Marketing Mix in Fashion Industry
Department of Textiles (Fashion Technology)
DKTE’S Textile & Engineering Institute, Ichalkaranji, India
Intern at Textile Learner
Definitions of Marketing:
Marketing is the enterprise, set of company, and processes for creating, communicating, delivering, exchanging offerings that have value for consumers, buyer, partners, friends and the community at large.
Marketing is the process by which a firm profitably translates customer needs into proceeds. Series of activities & experiences designed to create plan, price, promote & distribute need satisfying products service & ideas to selected customer groups in order to achieve the objectives of both customer & organization.
Definition of Marketing Mix:
The marketing mix refers to the set of actions or strategy that a company uses to promote its brand or outcome in the market.
What is Marketing in Fashion Industry?
Fashion marketing is the procedure of managing the flow of merchandise from the starting selection of designs to be produced to the presentation of products to retail customers, with the aim of maximizing a company’s sales and profitability.
Marketing Mix in Fashion Industry:
Here how the 7 Ps of marketing can applied to everything in your marketing mix.
Product is not only refers to tangible things but also to intangible aspects such as brand name and product service. Earlier it was believed that a good product will vend itself. In today’s aggressive market, there is no such commodity as bad product. So manufacturers must focus on creating a product or service that will satisfy the needs & wants of the consumers.
The product characteristics must define with performance, calibre, appearance, brand service, hold up and assurance.
It provides very significant depending on the type of brand, type of product, type of company.
The tactics behind the pricing of your outcome needs to be based on what your customers wants & needs are prepared to pay costs such as retail mark-up and manufacturing as well as other surveys.
Your marketing mix can include contribution and membership discounting programs, or email marketing of encouragement and vend.
It encloses the entire costing methodology for outcomes.
Promotion refers to entire set of activities. Successful fashion marketing strategies include all the promotional activities across the marketing mix. Promotion means advertising, preparing templates, direct marketing, in-store promotional activities create public relation.
The probability of digital encouragement is limited only by your imagination and can comprise online events, chats, social media groups, and live streams. Some intentions are there like differentiate product, strength the brand, building perceptions. Example buy 1 Get 1 free offer. It draws the attention for customers.
The aim of the promotion is to present your different types of product, increase demand for the product.
Where, which place & how your product is exhibited and vend should be directly informed by your consumers.
Aside from price and standard, the place of scattering must also be taken into consideration while creating a right marketing strategy as the garment industry is primarily based on insight.
In place consist of channels, coverage, locations, and transportation.
Focus must also be kept on the dispensation and partners, without which even excellent products will fail. Big insurrection in business have come about by changing place, Location, logistics, channel inspiration, service levels, and channel members must be taken into consideration.
The process of exporting products from producer to customer.
4P of marketing is converted into 7P of marketing
Magnificent consumer favor not only converts to vending but can expand your consumer base by referrals. These referrals by people who love your brand can also be a great ex. of how your marketing efforts can support your vending process.
It’s important that all who represents your brand or deals with consumers including the nonhuman chat bot variety are fully trained sales professionals with an intimate knowledge of your product and how it will improve the lives or solve the problems of your consumers.
The process of delivering your product to the customer should be planned for maximum regulation and responsibility, but may also include features that are in line with your brand, such as being environmentally or viable focused.
With the get up in online shopping, digital corporation and logistics have become a crucial part of the marketing mix.
7. Physical Evidence
Physical evidence incorporates aspects that prove your brand exists and that a purchase took place. It provides tangible cues of the quality of experience that a company is offering.
Examples proof that your brand exists can include things like a physical store, a website if your business operates solely online, and printed business cards that you exchange when meeting people.
This, of course, includes wrapping and branding, but should also bring in the ways products are displayed in stores, where they are placed, and the factors in which they sit, as well as digital arrangement, including on your website and social media.
When using the 7 Ps as a model to conduct marketing inspect, I look at each of the Ps. It’s silly to ignore an area unless it is completely case your command.
7 Ps of marketing is converted to 9 Ps of marketing
As the purview of marketing continues to develop, so does the retail mix. Since 2007.
Larry Londre’s 9Ps of marketing has included:
Partnership marketing is about cooperating with a person or business because they have a association with an area of a market that you’re interested in selling to. it is based on shared interest between two companies or organization.
The Marketing Mix Concept PowerPoint Presentation Slides by applying recommended practices for organizing content in an informational presentation. The importance of the roles of outcomes, promotion, price, and place shows an active part of your overall marketing growth.
Digital marketing, specifically, refers to ‘attaining marketing intentions through applying digital automation and media’.
Types of Digital Marketing Strategies:
1. Social Media Marketing Platforms (Like Instagram, Facebook, Twitter, YouTube, LinkedIn, Pinterest): Social media marketing is the use of social media platforms and websites to advertise a product or service of that product.
2. Influencer Marketing: Influence marketing is way of digital marketing in that software solution designed to assist brands with influencer marketing.
3. Email Marketing: Email marketing is the act of sending a trading message. There are 4 types of email marketing promotional mails, retail mail, newsletters (email), acquisition.
4. Content Marketing: Content marketing is a form of marketing focused on generating, producing, and give out content for a selected audience online.
5. Search Engine Optimization (SEO): Marketing’s strategy is a detailed plan to improve a website’s search engine hierarchy in order to take prisoner more organic traffic.
6. Pay-per-click (PPC): Pay-per-click is an internet advertising model used to drive traffic to websites.
7. Affiliate Marketing: Affiliate marketing is a type of production-based marketing which a business recompense one or more affiliates for each visitor.
8. Mobile Marketing: Mobile marketing relates to any promotional activity that takes place on smartphones and other handheld device like tab, including other cell/mobile phones.
Disadvantages of Digital Marketing:
- High competition.
- Dependability on Technology.
- Time Consuming.
- Security and Privacy Issues.
Marketing Strategy of Raymond Ltd:
Raymond is a fashion and fabric reseller based out of India, in 1925.
An installment pricing strategy for its outcomes. Raymond company also produces suiting fabrics and woolen fabrics. like Park Avenue, Raymond Premium Apparel, Parx, and Colour Plus are brands under Raymond ltd.
It resells all its brands through a wide network of 700 stores in over 200 cities spread all across India and abroad . Raymond is amongst the most respected and one of the widest apparel manufacturers.
Raymond’s Marketing Effort
Marketing effort encourage products through different types of media like television, radio, print, and online platforms. It not only encourages the outcome but also sends a important message to connect with the customer.
Raymond’s marketing effort is attractiveness as well as bewitching to the customer
Raymond’s Digital Presence
Customarily , businesses need to have an effectual planning to increase brand perception. A digital presence gives your brand a perfect programme to communicate with customers. It allows you to set the account on who you are as a brand, interact with your customers, and set yourself aside from competitors.
Marketing Strategy of Levi’s:
Target Market and Positioning of Levi’s
Levi’s section its target market according to gender, income, age, occupation, and social class. Levi’s manufactures garment products for both genders. The company produces shorts and jeans for both sexes. Besides, it creates shirts and T-shirts for both male & female. Women have a huge variety of products that they can buy in Levi’s manufacturers.
Competitors and their Strengths
Levi’s experience stiff opposition from contestant garment companies. The company’s main competitors include Gap Jeans, Calvin Klein, Tommy Hilfiger. The fresher of contestant led to the end of an era of holding for Levi’s. The contestant corporation came up with competitive prices that led to Levi’s losing customer. Besides, competition lowered Levi’s profit margin. Companies like Calvin Klein and Gap Jeans wage rigid rivalry against Levi’s.
Levi’s goods a wide range of produce ranging from denim jeans, shirts, T-shirts to shoes. The accessibility of different products contributes to the aggressive advantages of the company.
CRM or Customer Loyalty Program
Levi’s has a devotion program label Levi’s® Loop. Levi’s® Loop is an online program that seeks to encourage customers to relate to Levi’s brands.
Levi’s uses various channels to advertise its products. They use fashion magazines, television, banners, the Internet, and billboards to promote its merchandise.
Direct Merchandising and Sales Promotion
In Australia, Levi’s assist its outcomes through the creation of publicity. The company’s sales assist focuses on the end customers. It aims to satisfy potential customers to obtain Levi’s products. The company uses mass selling and personal vending to assist its outcomes.
Marketing is the most stirring of all business sports. It is the throb of every successful profession. It is continually changing in response to the eruption of information, the extension of technology, and the defiance of contention, at all levels and everywhere.
Fashion interacts with own profitable, financial, intellectual, and sociological factors, which reinforce the importance and need for fashion companies to understand their customers’ behaviors.
A dictionary of marketing, internet
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Founder & Editor of Textile Learner. He is a Textile Consultant, Blogger & Entrepreneur. He is working as a textile consultant in several local and international companies. He is also a contributor of Wikipedia.