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Since the supply is being specifically restricted, only a price increase could occur. Thus, creating exclusivity creates value to the seller.
The third reason why exclusivity is valuable is that it creates differentiation (Finkelstein, 2009). Differentiation is a key driver of value for many products and services. Exclusivity does not equate to differentiation, but it does increase the perception of differentiation, simply by virtue of the fact that the product is not mass market. The perception of differentiation is sufficient to drive value, regardless of whether or not there is actual differentiation. Thus, exclusivity drives value by being a means to achieve the perception of differentiation.
4. Senk argues that shopping in largely entertainment, a point to which I agree. Entertainment is simply something that amuses, diverts attention or pleases. In that respect, shopping is very much entertainment. As with any form of entertainment, shopping meets other purposes as well; and it does not appeal to all people. These points, however, do not negate the value of shopping as an entertainment form.
The act of shopping with specific intent to purchase need not be entertainment. Certainly there is a percentage of shopping trips that amount specifically to purchase with no thought to entertain. However, many shopping trips incorporate at least an element of entertainment. The practical function of shopping should not detract from that, any more meeting...
The dual purpose of shopping allows for consumers to choose the purpose of their shopping trip. While some may never choose to engage in shopping strictly to entertain themselves, there can be little doubt that a large component of society would and does make that choice. Indeed, given that time spent shopping is leisure time that could be used for another pursuit, it seems entirely unreasonable to assume that there is not an entertainment component to most shopping (Cohen, 2006).
Shopping, therefore, is very much a form of entertainment. Senk's position is especially true in the fashion industry. Only a small portion of fashion buying is strictly about functionality. Style is always a component, and it is the style that provides much of the entertainment value. Furthermore, clothes shopping can be a social activity, which further enhances its appeal as an entertainment form.
Works Cited:
Finkelstein, A. (2009). 10 tips for building your brand on a budget. CIFFOB. Retrieved December 3, 2009 from http://www.ciffob.com/tin-tuc/10-kinh-te/77-10-tips-to-building-your-brand-on-a-budget.html
Cohen, M. (2006). Why customers do what they do. New York: MacGraw-Hill Professional
Works Cited:
Finkelstein, A. (2009). 10 tips for building your brand on a budget. CIFFOB. Retrieved December 3, 2009 from http://www.ciffob.com/tin-tuc/10-kinh-te/77-10-tips-to-building-your-brand-on-a-budget.html
Cohen, M. (2006). Why customers do what they do. New York: MacGraw-Hill Professional
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