"taking the product to the consumer"
EX:trade show promotions, direct selling to customer face to face, negotiation with retails to stock your product,
Dupont used this.
Select group of customers with
the ability and desire to purchase a company's products and services and
to whom the company has directed their marketing efforts.
Interchangeable with: Target customers and customer base
Gender, age, occupation, income, education level, marital status family life cycle state
psychological statistics about the lifestyle of a population.
Values, attitudes, lifestyles, opinions, interest, hobbies
closely related to psychographic segmentation, but classifies customers by similar purchasing intents and behaviors.
Ex: cosmetic retailer may classify their customers by heavy usage rates or low usage rates depending on how often they purchase their cosmetics.
process of dividing the market into groups according to a particular region.
a narrowly defined market segment, but is not necessarily a small segment. Niche market consumers have an even more defined set of interests. Ex: Teens that shop at Hollister, Hot Topic and PacSun all have different specific interests.
Creating a lasting and mutually beneficial relations with key suppliers and consumers to ensure repeat purchases.
Ex: Writing thank you notes to customers, letting them know when upcoming promotions take place etc..
all the activities, from idea conception to ultimate consumer use, that satisfy the objectives of the buyer and seller.
4 P's of Fashion Marketing
Product, Price, Place and Promotion
The intended target customer determines the combination of the 4 P's
Wholesale, wholesale cost, and cost
three interchangeable words that refer to the amount the store pays for the item.
or distribution refers to the movement of products through the levels of the fashion marketing channel until the products reach the target customers.
Supply chain, channel of distribution, or marketing channel
representation of all the levels of the fashion industry. begins with production of raw materials and ends with retailing apparel.
Includes all activities that build awareness, interest, traffic, goodwill and ultimately encourage sales to the target customers.
"getting the consumer to come to you"
EX: advertising and mass media production, word of mouth referrals, sales promotions and discounts.
a single venue used to send the marketing communication to the target customer, such as radio broadcasts, billboards or newspaper print advertisements.
a company attempts to create a different store image or brand image in the minds of the target customers.
fashion that remains popular over a relatively long period of time EX: blue jeans, animal prints, men's navy blazer
the beginning of the fashion life cycle when a group of experimental consumers called fashion innovators adopt a new look.
rise or growth stage
when a group of fashion conscious consumers appreciate and imitate the innovator's new style. The early adopters compose the group of consumers at this stage.
a time when a large percentage of a population is wearing a fashion; everyone who wants the fashion wears it. The early majority represents consumers at this stage.
When there is a reduction in the number of people buying the fashion. Made up of the late majority.
represents the final stage in the life of fashion. The general population rejects the purchase of the merchandise in this stage an most retailers eliminate it from their stores. Consumers= laggards because they lag behind.
when the manufacture and the retailer spit the cost of the new product advertisement.
when the trendy specialty stores offer clothes intended for wear during a single season before consumers discard the items.
the process of extracting and interpreting consumer sate from available electronic information.
Ex: sending out a birthday coupon for a customers birthday based on the amount of money they spend with the company.
predicting the trends in popular colors, prints, styles, fabrications, and general trends.
a systematic method of collecting and analyzing data about a problem and then making a decision based on the findings.
involves the collecting of
relatively small amounts of data on large numbers of persons or things.
Data is then statistically analyzed to figure out averages.
EX: during WWII large amounts of data was taken to make mens uniforms which later on was used to analyze measurements for standardized men's wear.
collecting in-depth data on a particular topic or group of people. An in depth study of a small group.
7 Steps in Fashion Research
1. Defining the research problem
2. Developing hypothesis
3.Selecting the Sample
4.Developing the Research Instrument
6.Analyzing and interpreting data and drawing conclusions
realistically gives a consumer response to the introduction of a new product in a smaller market area, such as one or a few cities before expanding
a word or a symbol that identifies the source of goods or services and differentiates it from the competitor;s goods or services.
the way a store, label or designer impresses cutovers and influences their perceptions of the brand.
Rebranding/ Brand inovation
simular to repositioning but it usually involves resurrecting a brand that has been dormant or obsolete for quite some time.
the intangible, positive feelings that customers associate with the brand.
EX: having a Louis Vuitton may make you feel high class and more fashionable than the rest.
private label brands
Brands that are exclusive to the
store and retailer. Competing stores may not carry them so customer know
that they must shop at that specific store in order to purchase a
private label brand.
branded merchandise that is available in competing stores across the nation or the world. Brands owned by manufacturing companies and sold in a variety of retail stores. EX: Hanes, Nine West, Playtex
span geographic boundaries and may be available at stows throughout the world. EX: Guess, Baby Phat, Diesel
Bear the name of original designer, have widespread appeal, and may be available in a variety of competing stores.
high end or expensive brands afforded only by customers with significant amounts of discretionary income, or at least those who aspire to be affluent.
in the fashion industry is a legal contract between the licensor and the licensee that grands permission or gives the rights to use the licenser's namer other symbol on fashion goods made by the licensee.
intellectual property rights
refers to the protection of a person's or company's creative ideas for a certain period of time.
Ranges from a loose adaptation to a very similar adaptation of another design. Although legal, knockoffs can be very frustrating for the original designer.
refers to the process on the line for line copying of design ideas from other designers or companies. The illegal form of style piracy is counterfeiting.
the term encompasses the entire fabric industry, including the fibers, yarns, and manufacturing of the fabrics.
when a company engages in several levels of production within a single company.
EX: Pendleton Woolen Mills controls much of the wool manufacturing for most of it's products. Overseas wool selection and coat manufacturing.
Unfinished natural or man made products that are consumed by a manufacturer and used in the manufacture of finished goods, such s apparel or accessory merchandise.
apparel or home fashion items that are made of textiles, soft to the touch, and nondurable (meaning they are not meant to be kept for many years)