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The Power of the Forecaster: An Exploration into the Value of Trend-Forecasting for the Survival of Small to Medium Enterprises in the Creative Industries

Greenwood, Laura (2015) The Power of the Forecaster: An Exploration into the Value of Trend-Forecasting for the Survival of Small to Medium Enterprises in the Creative Industries. Masters thesis, University of Huddersfield.

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Abstract

Trend-forecasting is a growing resource utilised throughout a diverse range of businesses in the
creative industry. Not only is it important to understand the significance of trend research, but also to recognise the latest mechanisms applied to support emerging innovations in Small to Medium
Enterprises (SME). This research takes position in the broad context of creative business and corporate strategies and is designed to inform and share valuable information relating to the implementation of design trends.
This research aims to explore the value of trend-forecasting as well as the implications and risk
factors involved in this process. Can the value of forecasting be measured and proven to help support
and contribute to the enrichment of SMEs? The particular area in which this research focuses on is
the surface design sector for interiors; including wallpaper, flooring, tiles, textiles, homeware products,
furnishings and decorative interior surfaces.
Qualitative research will be explored and critically analysed in the form of 6 mini-case studies,
workshops, exhibitions and a series of 12 short interviews. This allows a general insight into multiple
business sectors with an overview from many different perspectives within the creative industry.
The selected sample suggests SMEs are reluctant to engage with forecasters due to limited
knowledge of trend influence, organisational culture or profit driven businesses. The research
highlights although forecasters cannot guarantee profit, they do support creative design, market
orientation, retailing, merchandising and social media. This may have a positive impact on increased
levels of customer, brand awareness and industry leadership. Eventually this could improve revenue;
ultimately benefitting the UK economy in supporting future SMEs. Not only do trends inspire creativity
but they also have the potential to support the connection between brand and consumer. Engaging
with trends consequently initiates innovation and reinforces multiple ways of facilitating a more
sustainable business through design strategies.

Item Type: Thesis (Masters)
Subjects: N Fine Arts > NX Arts in general
Schools: School of Art, Design and Architecture
Depositing User: Elizabeth Boulton
Date Deposited: 27 Jul 2016 10:54
Last Modified: 27 Jul 2016 10:55
URI: http://eprints.hud.ac.uk/id/eprint/29090

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