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Research aim and objectives
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Aim and objectives of this research are basically twofold. First aim of this research is to identify the impact of fast fashion industry on consumer behavior. To fulfill this aim a lot of things need to be analyzed and explored. Second aim of this research is to identify the strategic factors that form competitive advantages of a firm operating in fast fashion industry. Initially consumer behavior will be examined from various perspectives and will be linked to the fast fashion industry to reveal the facts that consumer behavior got influenced by the blistering speed of change in the fast fashion industry. Later strategic factors of the firms operating in this industry will be identified and an attempt will be made to link these factors to the consumer behavior. To fulfill the research aim and objectives in a more precise manner a fast fashion firm H & M will be used to reflect the facts related to the research. The main objectives of this research are as follows:
• Describe the main characteristics of consumer behaviour in fast fashion industry.
• Explore the similarities and differences between traditional consumer behaviour theories and consumer behaviour in fast fashion industry.
• Investigate the consumer behaviour characteristics for UK's perspective by analyzing the situation for H & M.
• Explore the factors that give a firm competitive advantage in fast fashion industry.
Secondary data will be used to form the research's theoretical background and basis. Then primary data will be collected from the consumers of this industry from the perspective of UK and based on the situation of H & M. Then primary data will be analyzed to reveal the outcome of this research in line with the research pre defined aims and objectives.
1.3 Research question
Research initiative undertaken in this dissertation will reveal the impact that fast fashion industry has on consumer buying behavior. Consumer buying behavior is an integrated approach which deals with the behavioral pattern of the consumers in an industry. Consumers are the life blood of an industry and in case of fast fashion industry consumers forms the integral part of the industry's operational structure. With the involvement of IT in this industry consumers are now offering the trends and fashion elements to the leaders of this industry directly. Most of the firms in fast fashion industry are retailers and therefore are closely related to the consumers. Therefore products and strategies adopted by these firms have significant impact on the consumer buying behavior. This research will also analyze and contrast the conventional theories of consumer buying behavior and their applicability in this industry's context. Therefore in this research the following questions will be examined:
• What are the basic and special characteristics of consumer behaviour in fast fashion industry?
• Why consumer behaviour characteristics in fast fashion industry differ from traditional consumer behaviour?
• Can traditional consumer behaviour theories be applicable to fast fashion industry?
• What are the sources of competitive advantages for a retail firm operating in a fast fashion industry?