What role does it play in fashion marketing?
This article explores the components of a fashion marketing plan and how fashion brands can strengthen their marketing strategies. Fashion marketing focuses on meeting the needs, needs, and goals of target consumers, which are implemented through a marketing mix.
Fashion marketing and fashion public relations are very different because fashion public relations only focuses on communication and how brands interact with target consumers and resonate.
A fashion marketing program focuses on four basic concepts: 1) product development, 2) distribution management, 3) communication, and 4) cost. In order to implement effective marketing campaigns, the marketing mix must be consumer-centric and focus on niche markets rather than the mass market. This concept simply means that marketing strategy and implementation should put consumers and their needs, needs and needs at the forefront, and intend to position a very clear market.
niche marketing is more targeted and cost-effective, and allows marketers to focus on specific market segments. Otherwise, large-scale marketing activities will be in place, lacking a clear consumer to sell.
As an example, assume that the luxury brand Louis Vuitton is a mass retailer and not suitable for the niche market. In essence, this means that Louis Vuitton has pushed its products to the mass market, which is actually unrealistic. Louis Vuitton's price does not allow the brand to cater to the public, which is why the brand has introduced all marketing communication channels into the luxury market. However, this does not mean that the brand will not completely fall into the luxury market, consumers are limited; this simply means that communication strategy and brand image will resonate with consumers in the luxury market. This approach allows companies to remain competitive and effective in terms of strategy.
Components of the Fashion Marketing Plan
1) Product Development
The most important part of the product development phase is not the product itself. This product is only a by-product of this stage. The most important component of this stage is the consumer. Consumers determine all the components of a marketing plan and therefore decide what the product is. Remember that today's highly competitive global market requires companies to be consumer-centric and focus on meeting consumer needs. Consumers decide on pricing strategies, distribution points, communication strategies and final product output. In the above example of Louis Vuitton, the target consumer determines the relevant costs and values of the brand.
There are two directions in the product development phase. The business can be product-oriented and choose to develop the product first and then push it to the target market. Or, companies can be more market-oriented and first segment the market to determine their specific needs, needs and needs, and then create products that meet these needs.
Due to the transient nature of the fashion industry, fashion marketers have a short sales cycle because of seasonal demand for their products. As the season changes, trends and tastes change. Therefore, marketers need to constantly adjust the product supply.
2) Price: Cost vs value
The pricing strategy is strictly applicable to market segmentation. With consumer-focused marketing priorities, pricing strategies will take into account consumer-related costs and consumer value. Pricing may vary based on market segmentation and its perceived value for the product or brand. Consumers who purchase luxury brands believe that the product is more valuable and, in turn, willing to pay more for the price-sensitive consumer or the product with the smallest difference in mass production.
3) Distribution Management
Distribution strategy determines the convenience and availability of products. Traditional fashion brand distribution channels include brand flagship stores, independent retailers, department stores and online distribution channels. The more distribution channels, the higher the exposure of the brand, and the greater the availability of the consumer market.
4) Promotion and Communication
Promotion strategies require how the brand attracts buyers and a range of activities for communicating with target consumers. Activities at this stage include the development of brands and their identities, promotions, public relations, product placement, advertising, event marketing and sponsorship.Business Credit: No Personal Credit And No Personal Guarantee Our Business Credit Membership Provides Weekly Training,resources,vendor Credit Lines, Cash Credit Sources And Banking Contacts. Brand New High Converting Self Help/wealth Generation Success Package. How To Buy Commercial Real Estate With No Cash And No Credit! Birddogbot - Real Estate Deal-finding Solution For Investors (view mobile)! Fan Victor - The Ultimate Fantasy Sports Plug-in (view mobile)! Get Lifetime Commission Per Customer! Our $1 Trial + Live Support Is Converting Like Crazy! Learn To Speak The Hebrew That Really Matters Using Sound, Video And Text. Recurring Charge! Legit Writing Jobs (view mobile)! 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