What’s in a fashion marketing campaign?
This short article explores the components of a fashion marketing program and how fashion brands can improve their marketing tactic. Fashion marketing is concerned with meeting the requirements, desires, 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 is targeted, consumers.
A fashion marketing strategy focuses on 4 necessary ideas:
- Product development
- Distribution management
To implement an efficient marketing campaign, the marketing mix has to be consumer-centric and focused on niche markets as opposed to catering to mass markets. This idea merely suggests that the marketing system and implementation should have consumers and their needs, desires, and demands inside the forefront and having a defined business that it intends to target.
Niche marketing is a lot more focused and cost-effective and permits the marketer to concentrate on a particular marketplace segment. Otherwise, a mass marketing campaign is all over the spot and lacks a defined consumer to industry.
As an instance, visualize in the event the luxury brand Louis Vuitton was a mass retailer and did not cater to a niche industry. Essentially, this would mean that Louis Vuitton would marketplace its solutions to the masses when that is unrealistic. Louis Vuitton’s cost point will not enable the brand to cater to the masses, which is why the brand channels all of its marketing communications for the luxury industry. On the other hand, that will not imply that the brand is off-limits to consumers who usually do not specifically fall into the luxury industry; it just indicates that the communications technique and also the brand identity would resonate much more with consumers within the luxury market. This method allows the business to remain competitive and successful in its strategic approach.
Components of a Fashion Marketing Plan
1) Product Improvement
One of the most critical components of the product development phase isn’t the product itself. The product is just the byproduct of this phase. Essentially the most vital element of this phase could be the consumers. Consumers dictate all of the components of the marketing program, and consequently, dictates what the product is. Keep in mind that today’s highly competitive worldwide marketplace demands that enterprises are consumer-centric and concentrate on serving consumer’s needs. Consumers dictate what the pricing strategy is going to be, the points of distribution, the communications tactic, and also the final product outcome. Within the example provided above regarding Louis Vuitton, the targeted consumers dictate what the related cost and value are going to be for the brand.
You’ll find two orientations of your product development phase. The company is often product-oriented and opt for to develop goods initially then marketplace it to its targeted markets. Alternatively, the enterprise could be additional market-oriented and segment its markets 1st to decide their specific needs, wants, and demands then develop the product to meet these wants.
Because of the transient nature of your fashion market, fashion marketers are beneath brief marketing cycles due to the fact product desires are seasonal. As the seasons adjust so do trends and tastes. Consequently, marketers are essential to continually adjust their product offerings with time.
2) Price: Cost vs Worth
The pricing strategy strictly relies on market place segmentation. Using a consumer-centric marketing focus, the pricing technique would take into account the linked fees to the consumer as well as the worth afforded to the consumer. Pricing may differ based on the market segment and their perceived worth on the product or brand. A consumer shopping for a luxury brand perceives the product to be more valuable and in turn, is willing to pay much more for the product in comparison to a price-sensitive consumer or maybe a product that is certainly mass-produced with minimal differentiation.
3) Distribution Management
The distribution technique determines the comfort and availability of the product. Regular distribution channels for fashion brands include things like branded flagship shops, independent retailers, department shops, and on-line distribution. The more distribution channels used the extra intense the brand’s exposure along with the greater the availability to consumer markets.
4) Promotions & Communications
The promotional tactic entails how the brand will attract its buyers along with the series of activities utilized to communicate to the targeted consumers. The activities in this phase incorporate developing the brand and its identity, sales promotions, public relations, product placement, advertising, event marketing, and sponsorships.