fashion-marketing-planning

Fashion Marketing Planning

‘b’What’s in a fashion marketing campaign? ”b’

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This article explores the components of a fashion marketing plan and how

fashion brands can enhance their marketing strategy. Fashion marketing is

concerned with meeting the needs, wants, and demands of your targeted

consumer, and these goals are accomplished using the marketing mix.

Fashion marketing is distinct from fashion public relations in that fashion

PR is solely concerned with communications and how the brand communicates

with and resonates with it’s targeted consumers.

A fashion marketing plan focuses on four essential concepts: 1) product

development, 2) distribution management, 3) communications, and 4) cost. In

order to implement an effective marketing campaign, the marketing mix must

be consumer centric and focused on niche markets rather than catering to

mass markets. This concept simply means that the marketing strategy and

implementation should have consumers and their needs, wants, and demands in

the forefront and with a very defined market that it intends to target.

Niche marketing is more focused and cost-effective and allows the marketer

to focus on a particular market segment. Otherwise, a mass marketing

campaign is all over the place and lacks a defined consumer to market to.

As an example, imagine if the luxury brand Louis Vuitton was a mass

retailer and did not cater to a niche market. Essentially, this would mean

that Louis Vuitton would market its products to the masses, when in fact

this is unrealistic. Louis Vuittton’s price point does not allow the brand

to cater to the masses, which is why the brand channels all of its

marketing communications to the luxury market. However, that does not mean

that the brand is off limits to consumers who do not exactly fall into the

luxury market’ it just means that the communications strategy and the brand

identity would resonate more with consumers in the luxury market. This

approach allows the business to remain competitive and effective in its

strategic approach.

‘b’Components of a Fashion Marketing Plan”b’

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1)&nbsp’ ‘u’Product Development”u’

The most important component of the product development phase is not the

product itself. The product is just the byproduct of this phase. The most

important component of this phase are the consumers. Consumers dictate all

the components of the marketing plan, and consequently, dictates what the

product is. Keep in mind that today’s highly competitive global marketplace

requires that businesses are consumer centric and focus on serving

consumer’s needs. Consumers dictate what the pricing strategy will be, the

points of distribution, the communications strategy, and the final product

outcome. In the example given above regarding Louis Vuitton, the targeted

consumers dictate what the associated cost and value will be for the brand.

There are two orientations of the product development phase. The business

can be product-oriented and choose to develop products first then market it

to its targeted markets. Alternatively, the business can be more

market-oriented and segment its markets first to determine their specific

needs, wants, and demands then create the product to meet those wants.

Due to the transient nature of the fashion industry, fashion marketers are

under short marketing cycles since product needs are seasonal. As the

seasons change so do trends and tastes. Consequently, marketers are

required to constantly adjust their product offerings with time.

2) ‘u’Price: Cost vs Value”u’

The pricing strategy strictly relies on the market segmentation. With a

consumer centric marketing focus, the pricing strategy would take into

account the associated costs to the consumer and the value afforded to the

consumer. Pricing may vary based on the market segment and their perceived

value of the product or brand. A consumer buying a luxury brand perceives

the product to be more valuable and in turn is willing to pay more for the

product compared to a price-sensitive consumer or a product that is mass

produced with minimal differentiation.

3) ‘u’Distribution Management”u’

The distribution strategy determines the convenience and availability of

the product. Traditional distribution channels for fashion brands include

branded flagship stores, independent retailers, department stores, and

online distribution. The more distribution channels used the more intense

the brand’s exposure and the greater the availability to consumer markets.

4) ‘u’Promotions &amp’ Communications”u’

The promotional strategy entails how the brand will attract its buyers and

the series of activities used to communicate to the targeted consumers. The

activities in this phase include developing the brand and its identity,

sales promotions, public relations, product placement, advertising, event

marketing, and sponsorships.

Fabiola Fleuranvil,

N.Y.L.A. Entertainment Group

Music Promotions ‘ Fashion Marketing ‘ Entertainment PR

Email: ‘a href=’mailto:Fabiola@NYLAEntertainmentGroup.com”Fabiola@NYLAEntertainmentGroup.com”a’

Web: ‘a target=’_new’ href=’http:”www.NYLAEntertainmentGroup.com”http:”www.NYLAEntertainmentGroup.com”a’

Phone: (404) 437-0078

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