Fashion marketing

The making and selling of apparel and accessories that are desirable to customers.

Introduction to fashion industry

The fashion industry is a product of the modern age. Prior to the mid-19th century, most clothing was custom made. It was handmade for individuals, either as home production or on order from dressmakers and tailors. By the beginning of the 20th centurywith the rise of new technologies such as the sewing machine, the rise of global capitalism and the development of the factory system of production, and retail outlets such as department storesclothing had increasingly come to be mass-produced in standard sizes and sold at fixed prices. Although the fashion industry developed first in Europe and America, today it is an international and highly globalized industry, with clothing often designed in one country, manufactured in another, and sold world-wide.

The fashion industry can be divided into five segments:

Haute couture is the most expensive and exclusive of the segments. It is made up of a handful of companies which produce custom-made clothing for the world's wealthiest individuals. The luxury segment is a step down in terms of quality and price, but still serves a wealthy clientele. Affordable luxury targets "aspirational" consumers, those who are not rich enough to afford luxury brands but will accept lower-priced alternatives. The goal of mainstream brands is mass appeal; they sacrifice an air of exclusivity for popularity. Discount brands cater to low-income consumers.

Four areas of specialization in the fashion business

Textile mills Converters Finishers Leather producers Fur industry Paris couture French prt-aporter Italian ready to wear

Primary markets

Designers and producers

Newspapers Magazines Fashion consultants Buying offices

Promotion operations

retailers

Boutiques Department stores Outlets Off- price retailers discounters

The definition of marketing includes the nonprofit sector of society (societal cause)

The definition of marketing includes the nonprofit sector of society (forest protection)

Activities of Marketing

Activities of Marketing

Exchange

Buying - seeking and evaluating alternatives Selling - promotion of alternatives to consumers

Activities of Marketing

Activities of Marketing

Logistical

Transporting - movement of goods and services Storing - holding of goods and services

Activities of Marketing

Activities of Marketing

Facilitating
Financing - facilitating exchange Risk-taking - holding title Providing information understanding markets (consumer and industrial) Standardizing and grading - sorting by size and quality

NATURE OF MARKETING
marketing is an economic function of exchange.

It is a legal process by which ownership is transferred. It is a system of interacting business activities. It is a managerial function of organizing and directing business activities that facilitates the movement of goods from producers to consumers. It is a philosophy based on consumer orientation and satisfaction. It is a dual objectives profit making & consumer satisfaction. It is a social process by which the society gets goods and services for the satisfaction of needs.

SCOPE OF MARKETING
Study of consumer wants and needs. Study of buyer behaviour. Product planning and development. Pricing policies. Distribution. Promotion. Consumer satisfaction. Marketing control

Study of consumer wants and needs Goods are produced to satisfy human wants. Therefore the marketer has to study the wants and needs of consumers. These wants and needs motivate consumers to purchase goods and services.

Study of buyer behaviour

Modern marketing emphasizes on the study of buyer behavior. Analysis of the behavior pattern of the customers is helpful for market segmentation and targeting.

Product planning and development Product is the core of marketing. Product planning and development starts with the development and commercialisation of the product. Product planning covers the decisions like branding,packaging,labelling,grading etc. and expansion or contraction of existing product lines

distribution
Study of marketing channels is one of the major areas of marketing. Goods are to be distributed at the minimum possible cost,to the largest number of consumers. Thus suitable distribution channels should be selected.

promotion
It includes advertising,sales promotion and personal selling. These promotional activities are very essential for the accomplishment of marketing goal.

Consumer satisfaction
In the modern world consumer is the king. The consumers determine what should be the business and where it should be prosper. Thus every marketer should Approaches importance to consumer satisfaction.in other words consumer satisfaction is one of the major goals of marketing.

Modern approach

Traditional approach

Marketing control
Marketing also covers marketing control through marketing audit and APPROCHES OF MARKETING

Approaches Modern approach Traditional approach

Traditional approach
The objective of traditional marketing is profit maximisation. Traditional marketing was sales-oriented and not consumer oriented. It gaves emphasis to products. It was concerned with the transfer of ownership. It gaves emphasis to physical movement of goods.

Modern approach
Modern marketing is consumer oriented. Modern marketing starts and end with the consumer. Modern marketing starts before production. Modern marketing is the guiding element of business.