Fashion Marketing Ch 2

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  • Quick Check Answers It is the specific group of people that a business is trying to reach. demographics, psychographics, geographics, and behavioristics It is the planning, buying, and selling of fashion apparel and accessories to offer the right merchandise blend to meet consumer demand.
  • Quick Check Answers product, place, price, and promotion Strategies include increasing the number of customers, increasing the average transaction, and increasing the frequency of repurchase. The seven functions of marketing include product/service management, distribution, finance, pricing, marketing-information management, promotion, and selling.
  • Checking Concepts Answers Marketing is the process of developing, promoting, and distributing products to satisfy customers’ needs and wants. demographic, psychographic, geographic, and behavioristic Fashion merchandising is the planning, buying, and selling of fashion apparel and accessories to offer the right merchandise blend to meet consumer demand.
  • Checking Concepts Answers product, place, price, and promotion Different methods include sales promotion, publicity and public relations, advertising, and personal selling. A direct channel of distribution is a path of distribution in which products are sold by the producer directly to the customers. An indirect channel of distribution is a path of distribution of product that involves one or more steps or intermediaries.
  • Checking Concepts Answers Activities include product/service management, distribution, financing, pricing, marketing-information management, promotion, and selling. The marketing mix includes four basic marketing strategies also called the four Ps of marketing—product, place, price, and promotion. To sell and market products, all businesses conduct marketing activities listed in #7 that can be classified into seven basic functions that include the four Ps.
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  • 1. Fashion andMarketingBack to Table of Contents
  • 2. Chapter 2 Fashion and MarketingFashion and Marketing Fashion Marketing Basics Marketing Strategies 2
  • 3. Fashion and Marketing Chapter ObjectivesDefine the term marketing.Explain types of customer characteristics usedto define a target market.Explain fashion merchandising.Describe the four components of the marketingmix.Identify the four types of promotion.Identify the seven functions of marketing. 3
  • 4. Fashion and Marketing How Fashion Is Marketed Marketing is a series of marketing the activities that fashion process of developing, promoting, and businesses undertake so distributing products to that customers will buy satisfy customers’ products from them instead needs and wants of their competitors.Section 2.1 4
  • 5. Fashion and Marketing The Marketing Concept To market effectively, marketing concept the fashion marketers follow idea that businesses must satisfy customer the principles of the needs and wants in order marketing concept. to make a profitSection 2.1 5
  • 6. The Marketing Concept Identify customers Determine what Business customers want Make the right products Communicate to available at the right time customers and at the right priceSection 2.1 6
  • 7. 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
  • 8. Fashion and Marketing Target Market Fashion marketers can target market the conduct research to identify specific group of people that a business is trying a target market. to reach Identifying a target market market segmentation a way of analyzing a is achieved through market market by categorizing segmentation. specific characteristicsSection 2.1 8
  • 9. Fashion and Marketing Target Market Specific customer demographic statistics characteristics that are that describe a population in terms of personal expressed as statistics characteristics such as include: age, gender, income, ethnic background, Demographics education, religion, occupation, and lifestyleSection 2.1 9
  • 10. Fashion and Marketing Target Market Specific customer psychographics characteristics that are studies of consumers based on social and expressed as statistics psychological include: characteristics such as attitude, interests, and Psychographics opinions geographics statistics Geographics about where people liveSection 2.1 10
  • 11. Fashion and Marketing Target Market Specific customer behavioristics statistics characteristics that are about consumers, attitudes, use, or expressed as statistics response to a product include: Behavioristics – Purchase occasion – Product benefits – Usage level and commitmentSection 2.1 11
  • 12. 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
  • 13. Fashion and Marketing Fashion Merchandising Fashion merchandising fashion merchandising involves developing plans to the planning, buying, and selling of fashion apparel make products available. and accessories to offer the right merchandise blend to meet consumer demandSection 2.1 13
  • 14. 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
  • 15. Fashion and Marketing Fashion Merchandising Merchandising market factors include: Economic issues that influence customer buying habits New technology developed by a competitorSection 2.1 15
  • 16. Fashion and Marketing Fashion Online Operating an e-tail business on an electronic channel—theWalking past attractivelydue to design, delivery, returns, and Web—can be costly, displayed fashions in store windows operating expenses.can easily lure you into a store to shop. However, it’s not soeasy to draw customers online. Though Many larger dot-com companies crashed in theResearch indicates thatlike Harris Cyclery of West Newton, 1990’s, small stores 99 percent of pop-up or banner ads Massachusetts, actually increase sales using a basic Webdosite. get clicked. One solution is linking through rides sites not Today, a third of Harris’s bicycle business Web in onthat alreadyto get hard-to-find parts and personal service. the Web attract an established demographic. 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
  • 17. Fashion and Marketing2.1 1. What is a target market? 2. What customer characteristics are used to segment markets? 3. What is fashion merchandising?Section 2.1 17
  • 18. Fashion and Marketing The Marketing Mix and Fashion To successfully sell a marketing mix four fashion product to target basic marketing strategies, known as the customers, businesses must four Ps of marketing— apply the marketing mix. product, place, price, and promotionSection 2.2 18
  • 19. The Marketing Mix and Fashion Product Advertising Sales Promotion Place The Four Ps Publicity Price Public Relations Personal Selling PromotionSection 2.2 19
  • 20. 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
  • 21. Fashion and Marketing Channels of Distribution Before merchandise channel of distribution reaches the consumer, it the path a product takes from the producer to the goes through the channel consumer of distribution.Section 2.2 21
  • 22. 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
  • 23. 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 segmentSection 2.2 23
  • 24. Fashion and Marketing The Functions of Marketing There are seven functions functions of marketing of marketing. the activities that include product/service management, distribution, financing, pricing, In order to have a successful marketing-information fashion business, business management, promotion, and selling owners follow the principles of these functions.Section 2.2 24
  • 25. 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
  • 26. 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
  • 27. 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
  • 28. 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
  • 29. Fashion and Marketing The Functions of Marketing Marketing-Information Management Function There are five main elements in a marketing- information system: 1. Input 2. Storage 3. Analysis 4. Output 5. Decision makingSection 2.2 29
  • 30. 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
  • 31. 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
  • 32. 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
  • 33. Fashion and Marketing2.2 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
  • 34. Fashion and Marketing Checking Concepts1. Explain the term 3. Fashion 2. demographic, 1. Marketing is marketing. the process of is merchandising psychographic, developing, and the planning, geographic,2. List four types of promoting, and buying, and behavioristicselling customer characteristics distributing of fashion apparel products to satisfy and accessories to used to identify a target customers’ needs offer the right market. and wants. blend merchandise to meet consumer3. Describe fashion demand. merchandising. continued 34
  • 35. Fashion and Marketing Checking Concepts4. Name the components 4. A direct channel of 6. Different methods 5. product, place, distribution is a path of include sales price, and of the marketing mix. distribution in which promotion, sold by promotion publicity products are and public directly to the producer5. List the different methods relations, the customers. An of promotion. indirect channel of advertising, and distribution selling. of personal is a path distribution of product6. Explain the different that involves one or channels of distribution. more steps or intermediaries. continued 35
  • 36. Fashion and Marketing Checking Concepts7. Identify the activities 7. The marketing mix 8. Activities include includes four basic associated with the product/service marketing strategies management, Ps of functions of marketing. also called the four distribution, marketing—product, place, price, and financing, pricing,Critical Thinking promotion. To sell and marketing- all market products, information businesses conduct8. Compare the marketing management, marketing activities listed mix with the functions of in #7 that can be promotion, and classified into seven marketing. selling. basic functions that include the four Ps. 36
  • 37. End ofFashion andMarketingBack to Table of Contents
  • 38. Fashion and Marketing 38