Cool Clothes is a textile company that is planning to make technologically advanced clothes, which are resistant
Question:
Cool Clothes is a textile company that is planning to make technologically advanced clothes, which are resistant to dirt and stains caused due to spills (ketchup, paint, oil, etc.).
The basis for this change was an insight that the company uncovered from its customer interviews. The insight highlighted that the customers were willing to pay 20% more for clothes that were resistant to dirt and stain caused by spills and would prefer such clothes to other branded alternatives, which did not possess these qualities. Furthermore, the consumers were driven by the awareness of the negative impact of fast fashion on the environment.
This change, which the company may undertake, would transform it from a fun clothes brand to a tech-savvy, fun brand.
Which change driver or change driversmay have caused this company to change?
- Internal - company growth
- External - social behaviour of customers
- Both internal and external drivers
- External - regulatory factors
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach