Transcript Fashion Products and Research

Chapter 9
Fashion Products and Research
Fashion Products
and Research
Fashion Products and Planning
Fashion Market Research
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Fashion Products and Research
Chapter Objectives
Describe fashion products.
Explain trade associations.
Explain trade publications and fashion magazines.
Discuss aspects of product planning.
Describe the methods used to do market research.
Explain market segmentation and target market
research.
Define merchandise information systems.
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Fashion Products and Research
Fashion Products:
Goods and Services
Goods are tangible items that are made,
manufactured, or grown.
Apparel
Textiles
Accessories
Services are intangible things that people do, such
as tasks performed for customers.
Retailers
Section 9.1
Cosmeticians
Stylists
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Fashion Products and Research
The Fashion Trade
The rag trade has many
trade associations.
A trade association
promotes a specific group,
sets standards, and
provides a means of
communication among its
members.
Section 9.1
rag trade the slang
term for the garment
industry
trade association a
nonprofit organization
that provides services to
specific groups who
develop, make, and sell
products within an
industry
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Fashion Products and Research
The Fashion Trade
A fashion trade publication
is a type of fashion product,
though it is not always sold
commercially.
Women’s Wear Daily is the
major American fashion
trade publication.
Section 9.1
trade publication a
magazine, book, or
journal offering a variety
of information to a
certain industry or a
segment of an industry
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Fashion Products and Research
The Fashion Trade
A fashion magazine is a
type of fashion product that
is sold commercially.
fashion magazine a
consumer magazine sold
commercially, featuring
articles, illustrations, and
advertisements with an
international emphasis
The public gets most
fashion news from fashion
magazines.
Section 9.1
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Fashion Products and Research
Fashion Product Planning
The product planning
process includes Market
Research and developing a
product mix and product
assortment that will satisfy
the needs and wants of the
market.
Section 9.1
product mix the total
selection of goods and
services that a company
makes or sells
product assortment
the range of items or
merchandise within
categories that a
company sells
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Fashion Products and Research
Fashion Product Planning
The number of different items
offered within a classification
of products is called
assortment breadth.
A product assortment has depth
if it consists of a large quantity
of the goods offered.
Section 9.1
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Fashion Products and Research
Understanding Products and Planning
The fashion industry stays current through trade
associations and trade publications.
The Fashion Group, Inc. - #1 Trade association
Women’s Wear Daily – Trade publication
Consumers use fashion magazines to stay informed.
– Vogue, Teen Vogue, Seventeen…
Fashion businesses must carefully plan their
selection of goods and services to suit customers.
Section 9.1
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Fashion Products and Research
9.1
What are the two types of fashion products?
A.
Goods and Services
What trade association represents all
B. segments of the fashion industry?
Fashion Group, Inc.
What are the two characteristics of
C. assortment?
Assortment breadth (how many items) and
assortment depth (quantity of items)
Section 9.1
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Fashion Products and Research
Key Terms
Page 180 – 6 words
Page 187 – 6 words
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Fashion Products and Research
Activity 9.1
WS #29 – Compare and Contrast a Trade
Publication and Fashion Magazine
See Women’s Wear Daily - Trade Magazine:
www.wwd.com
Compare to:
Vogue, Teen Vogue, Seventeen – Fashion Mags
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Fashion Products and Research
Chapter Objectives
Describe fashion products.
Explain trade associations.
Explain trade publications and fashion magazines.
Discuss aspects of product planning.
Describe the methods used to do market research.
Explain market segmentation and target market
research.
Define merchandise information systems.
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Fashion Products and Research
Market Research
and Fashion
Market research is an
essential part of the product
planning process in the
fashion industry.
Market analysts are specialists
who gather marketing
information, analyze data,
compile reports, and assist all
segments of the fashion industry
by providing information.
Section 9.2
market research the
systematic gathering,
recording, analyzing, and
presentation of information
related to marketing goods
and services
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Fashion Products and Research
Gathering Marketing
Information
The methods of gathering
marketing information are:
The survey method
The observation method
survey method a
research method that
involves gathering
information from people
through surveys or
questionnaires
observation method a
research method that
involves watching people
and recording consumer
behavior by cameras or
individuals
Section 9.2
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Fashion Products and Research
Gathering Marketing
Information
The methods of gathering
marketing information are:
The experimental
method
The focus-group method
experimental method a
research method whereby
a researcher observes the
results of changing one or
more marketing variables
while keeping other
variables constant
focus group a panel of
six to ten consumers who
discuss opinions about a
topic under the guidance
of a moderator
Section 9.2
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Market Segmentation
Target Market
Demographics
Maximize
Sales
Age
Research
Gender
Analyze
Income
Improve
Communication
and Services
Market segmentation is a way of dividing the
total market into smaller groups and analyzing
each group by specific characteristics.
Section 9.2
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Fashion Products and Research
Merchandise Information
Systems
The set of procedures for
collecting, storing, and
analyzing research data is
called a merchandise
information system.
merchandise
information system a
system that produces,
stores, and analyzes
information that enables
fashion marketers to
make decisions about
merchandise for sale
Researchers must collect
data on a continual basis.
Section 9.2
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Merchandise Information Systems
Sales records
and supplier
data
Customer
profile data
Competitors’
records
Government
data
Merchandise
Information System
Market segmentation is a way of dividing the total
market into smaller groups and analyzing each
group by specific characteristics.
Section 9.2
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Fashion Products and Research
9.1
What are the two types of fashion products?
A.
Goods and Services
What trade association represents all
B. segments of the fashion industry?
Fashion Group, Inc.
What are the two characteristics of
C. assortment?
Assortment breadth (how many items) and
assortment depth (quantity of items)
Section 9.1
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Fashion Products and Research
9.2
D. What is market research?
Systematic gathering, recording, analyzing and presentation of
information related to the marketing of goods and services
E. What are four methods used to collect data
in a merchandise information system?
Survey, observation, experimental, and focus group
F. How does market research influence new
products?
Section 9.2
Helps producers develop new products that consumers want to
purchase
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Fashion Products and Research
Checking Concepts
1. Name two fashion
products, including
goods and services.
2. Describe the services
provided by trade
associations.
3. Identify the difference
between trade and
fashion publications.
continued
Trade publications
1. Trade
2.
3.
fashion
associations
apparel
are
andmagazines,
promote
hairstyling
specific
newspapers,
books,set
service groups,
industry
or journals that offer
standards,
and
information to a
provide
a means of
certain industry.
communication
Fashion magazines
among
members.
are consumer
magazines
sold in
They are active
commercially,
the legislative
featuring
process articles,
as well.
illustrations, and
advertisements.
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Fashion Products and Research
Checking Concepts
4. Explain two tasks
involved in product
planning.
5. Identify the market
research method that
involves a group of
possible customers.
continued
4. Product
5.
focus group
planning
involves doing
market research
and making
decisions about
which products to
include in a product
mix or assortment.
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Fashion Products and Research
Checking Concepts
6. Name one source of
demographic information.
7. List the kind of data
obtained by merchandise
information systems.
continued
6. One
7.
Typessource
of
of
demographic
information
include
information
sales
records
is and
government
supplier
data,
statistics.
competitor’s
records, customer
profile data,
government data
such as price
trends and
projections.
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Fashion Products and Research
Checking Concepts
Critical Thinking
8. Explain the importance
of doing fashion market
research.
8. Possible answer may
note that market
research is especially
important in the fashion
industry for planning
new products and
finding out what
products consumers
want. Consumer tastes
and trends change
quickly, and companies
and designers need to
know what styles will
sell.
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