Transcript Fashion Marketing

Fashion and
Marketing
Back to Table of Contents
Chapter 2
Fashion and Marketing
Fashion and Marketing
Fashion Marketing Basics
Marketing Strategies
2
Fashion and Marketing
Chapter Objectives
Define the term marketing.
Explain types of customer characteristics used
to define a target market.
Explain fashion merchandising.
Describe the four components of the marketing
mix.
Identify the four types of promotion.
Identify the seven functions of marketing.
3
Fashion and Marketing
How Fashion Is Marketed
Marketing is a series of
activities that fashion
businesses undertake so
that customers will buy
products from them instead
of their competitors.
Section 2.1
marketing the
process of developing,
promoting, and
distributing products to
satisfy customers’
needs and wants
4
Fashion and Marketing
The Marketing Concept
To market effectively,
fashion marketers follow
the principles of the
marketing concept.
Section 2.1
marketing concept the
idea that businesses
must satisfy customer
needs and wants in order
to make a profit
5
The Marketing Concept
Identify
customers
Business
Determine what
customers want
Make the right products
available at the right time
and at the right price
Section 2.1
Communicate to
customers
6
Fashion and Marketing
The Marketing Concept
Retailers must consider the location, atmosphere,
and the image of the store.
Products must match style, quality, and price to
their customers.
Section 2.1
7
Fashion and Marketing
Target Market
Fashion marketers can
conduct research to identify
a target market.
target market the
specific group of people
that a business is trying
to reach
Identifying a target market
is achieved through market
segmentation.
market segmentation
a way of analyzing a
market by categorizing
specific characteristics
Section 2.1
8
Fashion and Marketing
Target Market
Specific customer
characteristics that are
expressed as statistics
include:
Demographics
Section 2.1
demographic statistics
that describe a population
in terms of personal
characteristics such as
age, gender, income,
ethnic background,
education, religion,
occupation, and lifestyle
9
Fashion and Marketing
Target Market
Specific customer
characteristics that are
expressed as statistics
include:
Psychographics
psychographics
studies of consumers
based on social and
psychological
characteristics such as
attitude, interests, and
opinions
Geographics
geographics statistics
about where people live
Section 2.1
10
Fashion and Marketing
Target Market
Specific customer
characteristics that are
expressed as statistics
include:
behavioristics statistics
about consumers,
attitudes, use, or
response to a product
Behavioristics
– Purchase occasion
– Product benefits
– Usage level and
commitment
Section 2.1
11
Fashion and Marketing
Diverse and Changing
Markets
The fashion market is too large and too diverse to
reach with a single marketing approach.
Consumer buying habits do not always remain the
same.
Businesses must offer new products and develop
strategies that affect their diverse customer bases.
Section 2.1
12
Fashion and Marketing
Fashion Merchandising
Fashion merchandising
involves developing plans to
make products available.
Section 2.1
fashion merchandising
the planning, buying, and
selling of fashion apparel
and accessories to offer
the right merchandise
blend to meet consumer
demand
13
Fashion and Marketing
Fashion Merchandising
Merchandising is the main function of apparel
retailing.
Retailers buy large quantities of goods at wholesale
prices.
Retailers sell the goods individually at retail prices.
Retailers are also responsible for store operations,
financial control, personnel, and sales promotion.
Section 2.1
14
Fashion and Marketing
Fashion Merchandising
Merchandising market factors include:
Economic issues that influence customer buying habits
New technology developed by a competitor
Section 2.1
15
Fashion and Marketing
Fashion Online
Operating an e-tail business on an electronic channel—the
Walking
past attractively
displayed
fashions
in store
windows
Web—can
be costly, due
to design,
delivery,
returns,
and
expenses.
canoperating
easily lure
you into a store to shop. However, it’s not so
easy to draw customers online.
Though Many larger dot-com companies crashed in the
1990’s, indicates
small stores
Cyclery
of West
Newton,
Research
thatlike
99 Harris
percent
of pop-up
or banner
ads
Massachusetts, actually increase sales using a basic Web
dosite.
not get
clicked.
One
is linking
throughrides
Web in
sites
Today,
a third
of solution
Harris’s bicycle
business
on
that
already
an established
the
Web toattract
get hard-to-find
partsdemographic.
and personal service.
Describe an e-business’s home page to your class after
viewing one through marketingseries.glencoe.com.
For more information, go to marketingseries.glencoe.com.
Section 2.1
16
Fashion and Marketing
2.1
1.
What is a target market?
2.
What customer characteristics are used to
segment markets?
3.
What is fashion merchandising?
Section 2.1
17
Fashion and Marketing
The Marketing Mix
and Fashion
To successfully sell a
fashion product to target
customers, businesses must
apply the marketing mix.
Section 2.2
marketing mix four
basic marketing
strategies, known as the
four Ps of marketing—
product, place, price, and
promotion
18
The Marketing Mix and Fashion
Product
Advertising
Place
The Four Ps
Sales Promotion
Publicity
Price
Public Relations
Personal Selling
Promotion
Section 2.2
19
Fashion and Marketing
Marketing Strategies
There are three strategies that fashion marketers
use to increase their business:
1. Increase the number of customers.
2. Increase the average transaction.
3. Increase the frequency of repurchase.
Section 2.2
20
Fashion and Marketing
Channels of Distribution
Before merchandise
reaches the consumer, it
goes through the channel
of distribution.
Section 2.2
channel of distribution
the path a product takes
from the producer to the
consumer
21
Fashion and Marketing
Channels of Distribution
A direct channel of distribution is a path of
distribution in which products are sold by the
producer directly to the consumer.
An indirect channel of distribution is a path of
distribution of products that involves one or more
steps, or intermediaries.
Section 2.2
22
Fashion and Marketing
Channels of Distribution
For apparel and home furnishings, the movement
through the channels of distribution is called the
soft-goods chain.
This chain includes three specific segments:
1. Textile segment
2. Apparel segment
3. Retail segment
Section 2.2
23
Fashion and Marketing
The Functions of
Marketing
There are seven functions
of marketing.
In order to have a successful
fashion business, business
owners follow the principles
of these functions.
Section 2.2
functions of marketing
the activities that include
product/service
management, distribution,
financing, pricing,
marketing-information
management, promotion,
and selling
24
Fashion and Marketing
The Functions of
Marketing
Product/Service Management Function
Fashion producers must look for new ways to use
existing items or produce new ones that will
continue to interest the consumer.
Section 2.2
25
Fashion and Marketing
The Functions of
Marketing
Distribution Function
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.
Section 2.2
26
Fashion and Marketing
The Functions of
Marketing
Financing Function
Financial 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.
Section 2.2
27
Fashion and Marketing
The Functions of
Marketing
Pricing Function
Pricing includes determining how much to charge
for goods and services in order to maximize
profits.
Section 2.2
28
Fashion and Marketing
The Functions of
Marketing
Marketing-Information Management Function
There are five main elements in a marketinginformation system:
1.
2.
3.
4.
5.
Section 2.2
Input
Storage
Analysis
Output
Decision making
29
Fashion and Marketing
The Functions of
Marketing
Promotion Function
Promotion is the communication technique a
business uses, such as advertising and other
promotional methods, to interest customers in
buying the products.
Section 2.2
30
Fashion and Marketing
The Functions of
Marketing
Selling Function
The selling function involves the direct personal
contact that businesses have with their customers.
Sales personnel must be able to communicate
the benefits and features of the items so that
customers are willing to pay higher prices.
Section 2.2
31
Fashion and Marketing
Marketing the Fashion
Product
Successful fashion marketers combine the
marketing mix and the functions of marketing to
develop, distribute, and promote their fashion
products.
Section 2.2
32
Fashion and Marketing
2.2
1. What are the four Ps of marketing?
2. What three marketing strategies are used to
increase retail business?
3. What are the seven functions of marketing?
Section 2.2
33
Fashion and Marketing
Checking Concepts
1. Explain the term
marketing.
2. List four types of
customer characteristics
used to identify a target
market.
3. Describe fashion
merchandising.
continued
1. demographic,
2.
3.
Fashion is
Marketing
the
psychographic,
merchandising
process of is
developing,
geographic,
the
planning,and
promoting,
behavioristic
buying,
andand
selling
distributing
of fashion apparel
products
and accessories
to satisfy
to
customers’
offer the right
needs
and
merchandise
wants. blend
to meet consumer
demand.
34
Fashion and Marketing
Checking Concepts
4. Name the components
of the marketing mix.
5. List the different methods
of promotion.
6. Explain the different
channels of distribution.
continued
direct channel
of
4. A
5.
6.
product,
Different
place,
methods
distribution
is a path of
include
price, and
sales
distribution in which
promotion,
promotion publicity
products are sold by
and
public directly to
the producer
relations,
the customers. An
indirect
channel
of
advertising,
and
distribution
is a path of
personal selling.
distribution of product
that involves one or
more steps or
intermediaries.
35
Fashion and Marketing
Checking Concepts
7. Identify the activities
associated with the
functions of marketing.
Critical Thinking
8. Compare the marketing
mix with the functions of
marketing.
marketing
mix
7. The
8.
Activities
include
includes four basic
product/service
marketing strategies
management,
also called the four Ps of
marketing—product,
distribution,
place,
price, and
financing,
pricing,
promotion. To sell and
marketingmarket products, all
information
businesses conduct
marketing
activities
management,
listed
in #7 thatand
can be
promotion,
classified into seven
selling.
basic functions that
include the four Ps.
36
End of
Fashion and
Marketing
Back to Table of Contents
Fashion and Marketing
38