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Fashion and Marketing

1

Chapter 2

Fashion and MarketingFashion and Marketing

Fashion Marketing BasicsFashion Marketing Basics

Marketing StrategiesMarketing Strategies

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3

How Fashion Is Marketed?

Marketing is a series of

activities that fashion

businesses undertake sothat customers will buy

products from them instead

of their competitors.

e!inition"

#arketing the

process of developing,

promoting, anddistributing products to

satisfy customers’

needs and wants

Section 2$1

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&he Marketing Concept

Section 2$1

usinessDetermine what

customers want

Identify

customers

!ake the right products

available at the right time

and at the right price

"ommunicate to

customers

'

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(

&he Marketing Concept

#etailers must consider the

$location

$atmosphere, and

$image of the store.

%roducts must match

$style,$&uality, and

$price to their customers.

Section 2$1

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)

&arget Market

'ashion marketers can

conduct research to identify

a target #arket. target #arket thespecific group of people

that a business is trying

to reach

Section 2$1

Identifying a target market

is achieved through #arket

seg#entation. #arket seg#entation a way of analy(ing a

market by categori(ing

specific characteristics

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*

&arget Market)pecific customer characteristics

that are expressed as statistics

include* ps+chographics studies ofconsumers based on socialand psychological

characteristics such as

attitude, interests, and

opinions

Section 2$1

2$ ,s+chographics

3$ -eographics

%$ Behavioristics + %urchase occasion + %roduct benefits + sage level and commitment

geographics statistics aboutwhere people live

behavioristics statistics

about consumers, attitudes,

use, or response to a product

de#ographics statistics that

describe a population in terms of

personal characteristics age,

gender, income, ethnic

background, education, religion,

occupation, lifestyle

1$ e#ographics

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.

iverse and Changing

MarketsThe fashion market is too large and too diverse to reach

with a single marketing approach.

"onsumer buying habits do not always remain the same

usinesses must offer new products and develop

strategies that affect their diverse customer bases.

Section 2$1

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1/

Fashion Merchandising

Fashion #erchandising

involves developing plans to

make products available.

!ashion #erchandising

the planning, buying, and

selling of fashion apparel

and accessories to offerthe right merchandise

blend to meet consumer

demand

Section 2$1

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!erchandising is the main

function of apparel retailing.

Section 2$1

#etailers buy large &uantities of goods at wholesale

prices.

#etailers sell the goods individually at retail prices.

#etailers are also responsible for store operations,

financial control, personnel, and sales promotion.

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!erchandising market factors include*

Section 2$1

Economic issues that influence customer buying habits

-ew technology developed by a competitor

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perating an e/tail business on an electronic channel0the1eb0can be costly, due to design, delivery, returns, andoperating expenses.

Though !any larger dot/com companies crashed in the2334’s, small stores like 5arris "yclery of 1est -ewton,!assachusetts, actually increase sales using a basic 1ebsite. Today, a third of 5arris’s bicycle business rides in on

the 1eb to get hard/to/find parts and personal service.

Describe an e/business’s home page to your class afterviewing one through marketingseries.glencoe.com.

1alking past attractively displayed fashions in store windows

can easily lure you into a store to shop. 5owever, it’s not so

easy to draw customers online.

#esearch indicates that 33 percent of pop/up or banner ads

do not get clicked. ne solution is linking through 1eb sites

that already attract an established demographic.

Section 2$1

'or more information, go to marketingseries.glencoe.com.

Fashion On0ine

13

http://www.marketingseries.glencoe.com/http://www.marketingseries.glencoe.com/http://www.marketingseries.glencoe.com/http://www.marketingseries.glencoe.com/

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1%

1hat is a target market6

1hat customer characteristics are used to

segment markets6

1hat is fashion merchandising6

$

B$

C$

Section 2$1

2$1

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1'

&he Marketing Mi and Fashion

To successfully sell a fashionproduct to target customers,

usinesses must apply the

#arketing #i.

Section 2$2

#arketing #i four basic marketingstrategies, known as the four %s of

marketing0product, place, price, and

promotion

The 'our %s

,0ace

,rice

dvertising

Sa0es ,ro#otion

,b0icit+

,b0ic 4e0ations

,ersona0 Se00ing

,ro#otion

,rodct

S55

page 33

in book

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1(

Marketing Strategies

There are three strategies that fashion marketers

use to increase their business*

Section 2$2

2. Increase the number of customers.

7. Increase the average transaction.

8. Increase the fre&uency of repurchase.

S55 page 33 in book

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1)

Channe0s o! istribtion

efore merchandise reaches theconsumer, it goes through the

channe0 o! distribtion.

Section 2$2

channe0 o! distribtion

the path a product takes

from the producer to the

consumer

Channe0s o! istribtion

'or appare0 and ho#e !rnishings, the movement throughthe channels of distribution is called the soft-goods chain.

This chain includes three specific segments*

Section 2$2

2. Textile segment + fiber, yarn, fabrics7. 9pparel segment + design, manufacture, wholesale

8. #etail segment/ stores selling to consumers

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1*

&he Fnctions o!

MarketingThere are seven !nctions

o! #arketing.

Section 2$2

!nctions o! #arketing

the activities that include

product:service

management, distribution,financing, pricing,

marketing/information

management, promotion,

and selling

In order to have a successfulfashion business, business

owners follow the principles

of these functions.

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1.

The 7 Functions of Marketing

1$ ,rodct6Service Manage#ent Fnction

Section 2$2

'ashion producers must look for new ways to use existing

items or produce new ones that will continue to interest the

consumer.

2$ istribtion Fnction

Section 2$2

The distribution of goods includes the methods of

physically moving and storing goods.

Distribution technology allows businesses to track and

monitor merchandise all the way from the manufacturer to

the retail outlet to the customer.

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2/


3$ Financing Fnction

Section 2$2

'inancial planning can include many factors, such as

production costs of the product, product pricing for the

customer, and everyday expenses such as rent, supplies,

and payroll.

%$ ,ricing Fnction

Section 2$2

%ricing includes determining how much to charge for

goods and services in order to maximi(e profits.

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'$ Marketing7In!or#ation Manage#ent Fnction

Section 2$2

There are five main elements in a marketing/

information system*2. Input

7. )torage

8. 9nalysis

;. utput

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($ ,ro#otion Fnction

Section 2$2

%romotion is the communication techni&ue a business

uses, such as advertising and other promotional methods,

to interest customers in buying the products.

)$ Se00ing Fnction

The selling function involves the direct personal contact that

businesses have with their customers.

)ales personnel must be able to communicate

the benefits and features of the items so that customers are

willing to pay higher prices.

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23

Marketing the Fashion

,rodct)uccessful fashion marketers combine the marketing mix

and the functions of marketing to develop, distribute, and

promote their fashion products.

Section 2$2

8ist the ) !nctionso! #arketing9a#e the ,:s o!

the #arketing #i

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2%

4eca00 and write"

1hat are the 8 marketing strategies used to

increase retail business

2. increasing = of customers

7. increasing the average transaction

8. increasing fre&uency of repurchase

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2'

1$ 5p0ain the term marketing . !arketing is

the process of

developing,

promoting, anddistributing

products to satisfy

customers’ needs

and wants.

1$ demographic,

psychographic,

geographic, and

behavioristic

2$'ashion

merchandising is

the planning,

buying, and selling

of fashion apparel

and accessories to

offer the right

merchandise blendto meet consumer

demand.

3$

continued

Checking Concepts

2$ 8ist four types of customer

characteristics used to identify a

target market.

3$ escribe fashion merchandising.

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2(

%$ 9a#e the components

of the marketing mix.

product, place,

price, and

promotion

%$

continued

Checking Concepts

'$ 8ist the different methods

of promotion.

)ales promotion

%ublicity

%ublic relations

9dvertising

%ersonal selling

'$

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2)

)$ Co#pare the marketingmix with the functions of

marketing.

Critica0 &hinking

Checking Concepts

($ Identi!+ the activities associated

with the functions of marketing.

9ctivities include

product:service

management,

distribution,financing, pricing,

marketing/

information

management,promotion, and

selling.

($>. The marketing mixincludes four basic

marketing strategies

also called the four %s of

marketing0product,

place, price, and

promotion. To sell and

market products, all

businesses conduct

marketing activities listedin => that can be

classified into seven

basic functions that

include the four %s.

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