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
Fashion Products:
Goods and Services
People in all segments of the
fashion market—primary,
secondary, or tertiary
markets—offer services.
Section 9.1
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Fashion Products and Research
The Fashion Trade
The rag trade has many
trade associations.
rag trade the slang
term for the garment
industry
A trade association
promotes a specific group,
sets standards, and
provides a means of
communication among its
members.
trade association a
nonprofit organization
that provides services to
specific groups who
develop, make, and sell
products within an
industry
Section 9.1
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The Fashion Trade
Types of Trade Associations
American Fiber Manufacturers Association—fiber production
American Yarn Spinners Association—yarn production
American Textile Manufactures Institute—fabric manufacturing
American Association of Textile Chemists and Colorists—fabric finishing
Council of Fashion Designers of America—apparel designing
American Apparel and Footwear Association—apparel manufacturing and sales
National Retail Federation—retail activities
The Fashion Group International, Inc.—all segments of the fashion industry
Section 9.1
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Fashion Products and Research
The Fashion Trade
A fashion trade publication
is a type of fashion product,
though they are not always
sold commercially.
trade publication a
magazine, book, or
journal offering a variety
of information to a
certain industry or a
segment of an industry
Women’s Wear Daily is the
major American fashion
trade publication.
Section 9.1
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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.
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Fashion Products and Research
The Fashion Trade
Examples of popular fashion
magazines are:
Vogue
Marie Claire
Glamour
Cosmopolitan
InStyle
Section 9.1
GQ
Teen Vogue
Teen Glamour
Seventeen
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Fashion Products and Research
Fashion Product Planning
Product planning includes
doing market research as
well as making decisions
about which products to
include in a product mix and
product assortments.
Section 9.1
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Fashion Products and Research
Fashion Product Planning
The product planning
process includes
developing a product mix
and product assortment
that will satisfy the needs
and wants of the market.
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 Product Planning
Product Development
Market and Trend
Research
Economic, Global,
and Technological
Influences
Cultural and
Artistic Resources
Company Goals
Color
Merchandising:
Plan, Budget, Line, Size
Fabric
Design:
Idea/Sketch
Sample Pattern
Sewing/Fitting
Sample Garment
Line Selection
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.
Consumers use fashion magazines to stay
informed.
Fashion businesses must carefully plan their
selection of goods and services to suit customers.
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Fashion Products and Research
One-Stop Shopping
What
is a fashion
product?
For on
retailers,
how their
fashion
Operating
an e-tail
business
an electronic
channel—the
products
are classified
important
when
a consumer
wants
Web—can
be costly,isdue
to design,
delivery,
returns,
and to
operating
expenses.
locate
their store’s
phone number or address in the phone
book. For online retailers, a product’s classification is even
Though
Many
larger dot-com
companies crashed in the
more
crucial
for getting
customers.
1990’s, small stores like Harris Cyclery of West Newton,
Massachusetts,
actually
sales using
basic Web
Online
search engines
and increase
e-tail databases
senda consumers
site. Today,
a third
of Harris’s
business
rides in on
to e-tailers
based
on the
kinds ofbicycle
products
being searched.
the Web to get hard-to-find parts and personal service.
Amazon, the online book and media retailer, distributes
everything
cookware tohome
fashion
apparel.
Describefrom
an e-business’s
page
to your class after
viewing one through marketingseries.glencoe.com.
For more information, go to marketingseries.glencoe.com.
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Fashion Products and Research
9.1
1.
What are the two types of fashion products?
2.
What trade association represents all
segments of the fashion industry?
3.
What are the two characteristics of
assortment?
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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.
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
Market Research
and Fashion
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
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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
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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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Fashion Products and Research
Market Segmentation
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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Market Segmentation
Target Market
Demographics
Maximize
Sales
Age
Research
Gender
Income
Section 9.2
Analyze
Improve
Communication
and Services
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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
Section 9.2
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Fashion Products and Research
Market Research and
New Products
Businesses must respond to market research on
a timely basis so that the research will be more
productive.
The information can help solve problems and
make business decisions.
Section 9.2
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Fashion Products and Research
9.2
1. What is market research?
2. What are four methods used to collect data
in a merchandise information system?
3. How does market research influence new
products?
Section 9.2
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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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