Describe the designer fashion rental market. Explain the concepts of needs, wants and demands applied to this type of customer.
Which is preferable: buying a $1,000 worth of fine crystals or at a fraction of that price, renting a fine ensemble of diamonds just for that very special day? Buying knockoffs or renting the designer handbags?
The market realised this dilemma of consumers, thus the idea of renting designer jewelries and other fashion items emerged. Of course consumer could just purchase a fake handbag and happily live with it. But should he carry that bag over to Europe, that’s where the legality issues come to play, and now you have to live with the brand stigma.
Now, consider designer products rental.
The designer fashion rental market provides consumers with a wide selection of handbags, jewelries and accessories to choose from. Trusted online stores like BagBorrowOrSteal.com and sacdeluxe.fr guarantee authenticity on all items, legality is no longer an issue. Moreover, the fee for renting a designer bag won’t break your bank. All these make the rental market the best way out for consumers who just need that designer item for that particular occasion.
Operation-wise, overheads are greatly reduced due to the engagement in e-commence; saving a hefty sum on a physical store and salespersons. Benefits of such operation are endless; unlimited customer base, initial start up costs than operating a real world business etc
Needs are basic human requirements (Philip Kotler et al. 24). In this instance, we are able to identify 2 types of needs: stated needs and secret needs. Consumer expressed his/her need for designer fashion items, however unwilling to pay sky-high prices for them, as most of the usages are one-off. This is a stated n ...