Transcript Fashion MARKETING - Amazon Web Services

‘Marketing is the management process
responsible for identifying, anticipating and
satisfying customer requirements profitably.’
Chartered Institute of Marketing
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Societal Marketing from end of 20th Century into this
millenium.
◦ Through consumer pressure and legislation
companies need to consider how they are contributing
to the betterment of society. M&S Plan A (no plan B)
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Relationship marketing from end of 20th Century into
this millenium.
◦ Responsive to consumers demanding products and
information. The internet has meant that consumers
want to interact with companies and brands and social
media provides a good platform for this.
It is getting PERSONAL!
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DESIGN CENTRED This idea has the designer as
the key creator and marketers must sell the
idea to the public. This approach often uses PR,
advertising and communications agencies.
MARKETING CENTRED This idea is based on the
belief that market research collected on the
consumer and this informs the design
specifications.
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This idea combines both perspectives having equal
concern for design, customers and profits.
Concern for
Fashion design
HIGH
Design
centred
FASHION
marketing concept
Failure
Marketing
centred
LOW
LOW
HIGH
Concern for
customers and profit
ZEITGEIST
the characteristic spirit or mood of
a particular period.
In marketing we need to capture the Zeitgeist
Marketing Environment
Marketing
Research
PRODUCT
Design
Research
Customers
PRICE
PLACE
PROMOTION
Marketing Mix
Fashion marketing organization
The FASHION MARKETING process
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PRODUCT - Product variety, quality, design, features, brand name
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PRICE - RRP, discounts, credit facilities, pricing strategy, price perception
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PLACE - Location, coverage, channels, transport, inventory, delivery
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PROMOTION - Sales promotion, personal selling, advertising, PR, direct
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What about more P’s........
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(includes sub brands/collection) packaging, service
marketing, word of mouth, website, social media, events
7 P’s (additional Physical evidence, Process & People) are used
by Service companies such as Insurance, holiday companies as
they don’t have a physical product so the process by which the
product is received is critically important. Retailers also use the 7
P’s model as the sales environment is critically important to them
and especially people.
The Market environment
For our product
MARKET
NATIONAL ECONOMY
GLOBAL ECONOMY
BUSINESSES
CONSUMERS
The Market environment
For audit purposes
Company
MICRO ENVIRONMENT
MACRO ENVIRONMENT
Company
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Political forces
Legal forces
Regulatory forces
Societal & cultural forces
Economic forces
Technological forces
Environmental
Forces in the Macro environment will affect your
company and impact on how it is managed and
how it trades. You need to respond but have little
influence over these forces.
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To analyse the Market environment we need
a means to guide our research and
understanding – a FRAMEWORK
One of the analytical ‘TOOLS’ for this is…
PEST (or PESTLE) analysis
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Political (Legal is separated in PESTLE)
Economic
Societal
Technological
Easey also refers to LEPEST or STEPLE analyses.
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Organise yourselves into groups of 3 or 4
Carry out a PEST analysis. Your company is a
fashion retailer (it may be helpful if one of
you work for the retailer).
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Consumers
Competitors
Suppliers
Manufacturers
Intermediaries
The Micro environment the company can
directly affect. Therefore the company can
have a direct impact on AND be impacted
themselves.
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To analyse the Company situation again we need a
means to guide our research and understanding.
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The situation analysis ‘TOOL’ for this is…
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SWOT analysis
◦ Internal to the company
 Strengths
 Weaknesses
◦ External to the company
 Opportunities
 Threats
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In your same groups
Carry out a SWOT analysis of the company
you selected.
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What have we established by carrying out a
marketing audit?
Where we are NOW
Why is this important?
If we don’t know where we are now how can
we begin to plan where we are going?!