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Proposals

Frist draft

March 22nd 2016

Keyao Wei

On May 29, 2012, Nike announced the Air Yeezy II Red October was being released.

The whole sneaker market was blast after the announcement tough Twitter. Eleven minutes later,

Yeezy II Red October was completely sold out on the official website. The original price for

Yeezy II Red October is $245, but the inflated resale price goes up to $4000. This year, Kanye

west collaborates with Adidas and introduced the Yeezy Boost 750 on February, 2015 and Yeezy

Boost 350 on June. Undoubtedly, even though the retail prices are $350, and $200; the resale

market was inflated dramatically.

Nowadays high-end fashion does not only means good quality, innovative technology,

and cool designs, but it has a special affinity with pop cultures. Media generate the social norms

of the high-end fashion products by covering popular celebrities’s trends massively. People are

cultivated to the narratives that brands created, and it gradually changes people’s perception of

reality. My proposal is to suggest people make rational decisions coming to terms with shopping.

In oder to solve the problem, people should acknowledge some basic concept of branding,

framing, and rational decision makings. Then, I will provide some examples of the brands that

have good quality products with a decent price.

The term fashion, by its own nature, its a marketing product. In order to sell their

products, brands and businesses uses mass media to create social realities to communicate what

is trending, stylish and fashionable. Businesses uses celebrities to navigate people fashion tastes,

and dig out people’s purchasing desires. Human emotions and personality is tied to their

reasoning and decision making. A successful brands understand attention, emotion and memory

is essential for branding. Fashion retailing businesses uses celebrates as an agency to create

popular culture, and this action could effectively accelerates their sales.

Individuals have always wanted to be recognize and identify by others with positive

narratives. Therefore, people often labeled by brands, stereotypes, and categories. However,

it is more important to acknowledge that many high fashion brand are over pricing. The price of

the product is not always equivalent to the quality and values. In my opinion, luxury product

represent good quality and it has the long-lasting values. However, fashion is always changing

and manipulated by the media. Luxury is more like a upperclass lifestyle.

Now, I want to offer some solutions to the problem. First, I want to introduce the basic

economic concept, the Cost and Benefit Principle. The cost-benefit principle means: take no

action unless its marginal benefits are at least as great as its marginal costs. This principle could

be applied to consumer’s decision making process. It could prevent costumers to make irrational

decision, due to emotional, financial factors.

The second solution is to know your style. Consumers is often depends too much on the

popular and trending products rather than get to know what style/design fits them the best. For

instance, a tight mini dress may fit perfectly on a model, even though you bought it, it might not

fit on you. This is a simple and obvious illustration, but when people make their own decisions,

they are more often driven by their emotions. Therefore, knowing your own style would avoid

you to make silly decisions as well.

Then, I want to list some examples of brands that have fair prices and good quality. The

first came across my mind is the Uniqlo, it is an Japanese casual wear brand, which has high

quality product. The design concept is simple, basic and with no logos. Its is a good brand for

students who want to dress neat with a limit budget. If you are looking for something more

classy, I would like to suggest the brand Everlane. The brand has both men and women clothing,

shoes, and handbags. Most of their shoes are made out of leather. Comfort and simple are the

priority of the brand’s culture. I hope these two examples could provide a basic idea of how to

select the stores/brands that are fair pricing.