Chapter 1 introduction

Chapter 1

An Introduction to Fashion Marketing

1

“Fashion is not art, it is industry”

Jean Muir

Some Marketing definitions…

“Marketing is a human activity, directed at satisfying needs and wants through exchange processes”

Kotler

Chartered Institute of Marketing

“Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably”

Drucker

“Marketing is the whole business seen from the point of view of its final result, that is from the customer’s point of view”

• Marketing is about making it easy for the customer to say “YES”

• Write down what makes it easy for you to say ‘YES’ and make a purchase

• The aim of marketing is to eliminate the need for selling

What is fashion?

• Fashion involves change, accepted change, defined as a succession of short-term trends or fads.

• Styles do not become fashions unless they win acceptance amongst consumers.

• Fashion is not just about clothing.

Related Fashion Services

Advice on garment coordinationCosmetic surgeryTattoosHairdressingGarment alteration, cleaning, repairsSun tanning

CLOTHINGUnderwear...OuterwearFormal……..InformalBespoke… ..Ready-madeNatural……..Man-made

Fashion-related productsShoes Hats Hosiery Jewellery Belts BagsScarves CosmeticsFragrances Wigs

USAGE SITUATIONS

Work/SchoolLeisure

Domestic

FASHION PRODUCTS AND SERVICES

• But fashion fulfills more than just a basic need of clothing and home furnishings.

• Fashion fulfills a need to reflect an image of oneself to the world.

What is Fashion Marketing?

“…. the application of a range of techniques and a business philosophy that centres upon the customer and potential customer clothing and clothing-related products and services in order to meet the long-term goals of the organisation” Mike Easey

Two Views of Fashion Marketing

Sample statements

Assumption

Orientation

Alleged drawbacks

Design should be based solely on marketing research

Make what we can sell

Marketing centred

Bland designsStifles creativity

Fashion marketing is the same as promotion

Sell what we can make

Design centred

High failure rates

Relies on intuition

The Fashion Marketing Concept

DESIGNCENTRED

FASHION MARKETINGCONCEPT

FAILURE MARKETINGCENTRED

High

Low

Concern forFashion Design

Concern for customers and profit

Fashion Merchandising

The retailers role in fashion marketing is very important.

Merchandising = the buying and selling of goods.

Fashion Merchandising aims to have:– The right fashion merchandise, at the right place,

at the right time, in the right quantities at the right price

Marketing Mix – 4 P’s

• Product – what a business offers customers to satisfy needs

• Price – the amount the customer pays for products

• Promotion – the ways a customer is informed and encouraged to buy the product

• Place (distribution) – involves getting the product to the customer

Key Marketing Functions

Functions of

Marketing

Marketing InformationManagement

Financing

Pricing

Promotion

Product/ServiceManagement

Distribution

Marketing-Information Management

• Involves gathering and using information about what consumers want.

Financing

• Involves planning ways to cover the costs of successfully operating the business.

Pricing

• Is the process of setting the value or cost at the right level.

• Must cover costs of all other marketing functions.

• Is the only element of the mix which brings in cash.

• Depends on the costs of production plus a margin for profit.

• Needs to reflect demand.

Promotion

• Is communicating with the customers about the product to achieve the desired objective

• Methods of promotion include:– Advertising– Personal selling– Publicity– Sales promotions– Public relations

Product/Service Management

• Designing, producing, maintaining, improving

and/or acquiring products or services to meet customer needs.

Place (Distribution)

• … involves moving the product each step from the design idea to the consumer.

The Marketing Triangle• Illustrates the relationships within

marketingCustomers

CompanyCompetitors

Marketing Dynamism

• Marketing Strategies cannot be static

• They must respond to a changing environment