Fashion Marketing

1
Chapter 9
Fashion Productsand Research
Fashion Products and Planning
Fashion Market Research
2
Chapter Objectives

• Describe fashion products.
• Explain trade associations.
• Explain trade publications and fashion magazines.
• Discuss aspects of product planning.
• Describe the methods used to do market research.
• Explain market segmentation and target market
  research.
• Define merchandise information systems.

3
Fashion Products Goods and Services

• Goods are tangible items that are made,
  manufactured, or grown.

Apparel
Textiles
Accessories
Section 9.1
4
The Fashion Trade

• The rag trade has many trade associations.

rag trade the slang term for the garment
industry
A trade association promotes a specific group,
sets standards, and provides a means of
communication among its members.
trade association a nonprofit organization that
provides services to specific groups who develop,
make, and sell products within an industry
Section 9.1
5
The Fashion Trade

• A fashion trade publication is a type of fashion
  product, though it is not always sold
  commercially.

trade publication a magazine, book, or journal
offering a variety of information to a certain
industry or a segment of an industry
Womens Wear Daily is the major American fashion
trade publication.
Section 9.1
6
The Fashion Trade
fashion magazine a consumer magazine sold
commercially, featuring articles, illustrations,
and advertisements with an international emphasis

• A fashion magazine is a type of fashion product
  that is sold commercially.

The public gets most fashion news from fashion
magazines.
Section 9.1
7
Fashion Product Planning

• The product planning process includes Market
  Research and developing a product mix and product
  assortment that will satisfy the needs and wants
  of the market.

product mix the total selection of goods and
services that a company makes or sells
product assortment the range of items or
merchandise within categories that a company sells
Section 9.1
8
Fashion Product Planning

• The number of different items
• offered within a classification
• of products is called
• assortment breadth.
• A product assortment has depth
• if it consists of a large quantity
• of the goods offered.

Section 9.1
9
Understanding Products and Planning

• The fashion industry stays current through trade
  associations and trade publications.
• The Fashion Group, Inc. - 1 Trade association
• Womens Wear Daily Trade publication
• Consumers use fashion magazines to stay informed.
  Vogue, Teen Vogue, Seventeen
• Fashion businesses must carefully plan their
  selection of goods and services to suit customers.

Section 9.1
10
9.1

• What are the two types of fashion products?
• Goods and Services
• What trade association represents all segments of
  the fashion industry?
• Fashion Group, Inc.
• What are the two characteristics of assortment?
• Assortment breadth (how many items) and
  assortment depth (quantity of items)

A.
B.
C.
Section 9.1
11
Key Terms

• Page 180 6 words
• Page 187 6 words

12
Activity 9.1

• WS 29 Compare and Contrast a Trade Publication
  and Fashion Magazine
• See Womens Wear Daily - Trade Magazine
• www.wwd.com
• Compare to
• Vogue, Teen Vogue, Seventeen Fashion Mags

13
Chapter Objectives

• Describe fashion products.
• Explain trade associations.
• Explain trade publications and fashion magazines.
• Discuss aspects of product planning.
• Describe the methods used to do market research.
• Explain market segmentation and target market
  research.
• Define merchandise information systems.

14
Market Research and Fashion

• Market research is an essential part of the
  product planning process in the fashion industry.

market research the systematic gathering,
recording, analyzing, and presentation of
information related to marketing goods and
services
Market analysts are specialists who gather
marketing information, analyze data, compile
reports, and assist all segments of the fashion
industry by providing information.
Section 9.2
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Gathering Marketing Information

• The methods of gathering marketing information
  are

survey method a research method that involves
gathering information from people through surveys
or questionnaires

• The survey method

• The observation method

observation method a research method that
involves watching people and recording consumer
behavior by cameras or individuals
Section 9.2
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Gathering Marketing Information

• The methods of gathering marketing information
  are

experimental method a research method whereby a
researcher observes the results of changing one
or more marketing variables while keeping other
variables constant

• The experimental method

• The focus-group method

focus group a panel of six to ten consumers who
discuss opinions about a topic under the guidance
of a moderator
Section 9.2
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Market Segmentation
Target MarketDemographics
MaximizeSales
Research
Age
Analyze
Gender
Improve Communication and Services
Income
Market segmentation is a way of dividing the
total market into smaller groups and analyzing
each group by specific characteristics.
Section 9.2
17
18
Merchandise Information Systems

• The set of procedures for collecting, storing,
  and analyzing research data is called a
  merchandise information system.

merchandise information system a system that
produces, stores, and analyzes information that
enables fashion marketers to make decisions about
merchandise for sale
Researchers must collect data on a continual
basis.
Section 9.2
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Merchandise Information Systems
Sales recordsand supplier data
Customer profile data
Competitors records
Government data
Merchandise Information System
Market segmentation is a way of dividing the
total market into smaller groups and analyzing
each group by specific characteristics.
Section 9.2
19
20
9.1

• What are the two types of fashion products?
• Goods and Services
• What trade association represents all segments of
  the fashion industry?
• Fashion Group, Inc.
• What are the two characteristics of assortment?
• Assortment breadth (how many items) and
  assortment depth (quantity of items)

A.
B.
C.
Section 9.1
21
9.2

• What is market research?
• Systematic gathering, recording, analyzing and
  presentation of information related to the
  marketing of goods and services
• What are four methods used to collect data in a
  merchandise information system?
• Survey, observation, experimental, and focus
  group
• How does market research influence new products?
• Helps producers develop new products that
  consumers want to purchase

D.
E.
F.
Section 9.2
22
Checking Concepts

1. Name two fashion products, including goods and
   services.

1. Describe the services provided by trade
   associations.

1. Identify the difference between trade and fashion
   publications.

continued
23
Checking Concepts

1. Explain two tasks involved in product planning.

1. Identify the market research method that involves
   a group of possible customers.

continued

1. Identify some factors that affected fashion in
   the 1940s.

24
Checking Concepts

1. Name one source of demographic information.

1. List the kind of data obtained by merchandise
   information systems.

continued

1. Identify some factors that affected fashion in
   the 1940s.

25
Checking Concepts
Critical Thinking

1. Explain the importance of doing fashion market
   research.