PRESENTATION ON“FASHION MARKETING” SUBMITTED BY AMAN DEEP BBA-5TH SEM
Fashion MarketingMarketing is a series of activities that fashion businesses undertake so that customers will buy products from them instead of their competitors.Marketing Concept is the idea that businesses must satisfy customer needs and wants in order to make a profit
Fashion Marketing• Target Market the specific group of people that a business is trying to reach• Market Segmentation a way of analyzing a market by categorizing specific characteristics• Demographic statistics that describe a population in terms of personal characteristics such as age, gender, income, ethnic background, education, religion, occupation, and lifestyle• Psychographics studies of consumers based on social and psychological characteristics such as attitude, interests, and opinions• Geographics statistics about where people live• Behavioristics statistics about consumers, attitudes, use, or response to a product
Fashion MerchandisingFashion Merchandising the planning, buying, and selling of fashion apparel and accessories to offer the right merchandise blend to meet consumer demand
4 P’s of MarketingProductPricePlacePromotion
Channels of Distribution• Channel of Distribution the path a product takes from the producer to the consumerA 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.
Functions of MarketingFunctions of Marketing : the activities that include product/service management, distribution, financing, pricing, marketing-information management, promotion, and selling
1.Product/Service Management FunctionFashion producers must look for new ways to use existing items or produce new ones that will continue to interest the consumer.
2. 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.
3. Financial FunctionFinancial 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.
4. Pricing FunctionPricing includes determining how much to charge for goods and services in order to maximize profits.
5. Marketing-Information Management Function• There are five main elements in a marketing- information system:1. Input2. Storage3. Analysis4. Output5. Decision making
6. Promotion FunctionPromotion is the communication technique a business uses, such as advertising and other promotional methods, to interest customers in buying the products.
7. 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.