Strategic Fashion Marketing - Assignment Example

Strategic Fashion Marketing What is fashion marketing? Fashion may be defined as a popular trend in either dress codes and ornaments or a way of behaving. Fashion marketing may then be defined as a way of promoting these popular trends. Various fashion trends in the market today appeal to different people. There are those that like conservative trends while others appreciate the contemporary look. Fashion trends continue changing now and again and just like any other business, thus marketing is done in order to promote them (Martin, 32). The contemporary fashion market is mainly for clients who are adventurous and aware of the current fashion trend. Contemporary outfits closely look like those seen on the runway only that they are sold at a different price, which is lower. The rise in status of contemporary fashion can be attributed to the changing tastes in artistic things among other factors. There are various marketing trends currently being used to market fashion wear. Technology and new inventions have seen the rise of many marketing strategies that are better and easier. Two contemporary fashion-marketing trends that will be influential over the next five years in the global fashion industry are mobile marketing and e-marketing. These fashion-marketing trends are important for various reasons. Many people have become very busy with daily activities be it official, academic or home chores. For this reason, they have very little time left for social activities including shopping for clothes. Things have been made easier by technology using the internet and mobile facilities like phones. Changing times have seen the rise in the use of these two marketing strategies. Internet has become readily available and this goes for mobile facilities as well (Ziv, 36). The above diagrams show how mobile phones are used in marketing and purchasing of items. They also show the different applications on phones that enable clients and sellers to communicate easily. Mobile marketing is important because many people in various regions can be reached. This means that the market base for contemporary fashion is expanded and in turn, more sales are made. It is also imperative because it facilitates the sellers to avail themselves to their clients instead of the clients having to always come to them. This allows the shoppers to save time and at the same time get their wear conveniently. Another importance is that clients of contemporary fashion are able to get their wear in good time while they are still fashionable (Martin, 58). The above diagram shows the different ways in which the internet can be used in marketing. E marketing on the other hand is important because it is very convenient. Many products are currently available online and can be purchased online. This makes it easier for the seller and buyer in many ways. The seller gets to have a wide market base since many people use the internet on a daily basis. The seller also gets to offer his / her products at a lower price due to fewer costs incurred and they also get to showcase a variety of their products at once through pictures. It is also important because technology has enabled for various gadgets that can connect to the internet from various locations making it easier for many transactions to be made digital (Perlman & Sherman, 69). The above diagram shows how marketing can be done using the pay per click promotion tool. These marketing trends are important to the clients as they save plenty of time and can buy the products from anywhere around the world and make payments as well. Clients can view the fashion wear, make orders from the comfort of their homes or offices, and have them delivered. They are also important since they help them to save some cash compared to when they buy from stores due to the operational costs involved. Fashion marketing is bound to face some challenges in the future. One of the tests it will face is maintaining its market base due to stiff competition. Many fashion designers have come up and are still coming up daily. Like any other business, when one comes up they tend to find a way of topping the list either through lower prices, better quality, uniqueness or availability. If one designer comes up with a design that appeals to a certain targeted market, they will sell. If another one comes up with something equally appealing but at a lower price, they will take over the market. Another challenge is maintaining a steady price that is favorable to clients considering the rising cost of materials and other business related costs. It will be tough to uphold a certain price when the cost of production is increasing. An increase in prices might mean losing some client who may not be able to meet the expense of the rising price. The other challenge will be introducing certain fashion elements to regions where the fashion might be seen as interfering with certain cultural beliefs or ways of dressing. Another challenge will be getting out good quality clothing. This is because stiff competition may sometimes lead to some going for bad quality materials in order to reduce production costs and in turn sell at a lower price to attract clients (Perlman & Sherman, 96). The fashion industry contributes a lot to international business growth. This is because clothes are an international item and those made in one part of the world can be worn in another part. This then leads to international trade, which is done among many countries. There are nations that are renowned for fashion like France and Italy. Fashion may be their greatest export but they also need certain things that they may not have or do not have enough. This gives rise to trade where they export their fashion wear and import that which they need. The above-mentioned challenges will influence international trade because a reduction in the number of sales will mean less exports and less revenue. This could also mean that various countries may have a deduction in their gross trade income leading to reduced revenue and in turn, fewer projects will be undertaken. International trade will also be impacted in that there will be less trade activities between countries given that there has to be a definite level of demand for a certain product in order for its export or import to be productive. The increasing costs of materials and other business related activities may also be a challenge. Increasing costs will mean that the governments will have to increase various costs like license fees and custom duty. This will sequentially lead to an augment in the operational costs and this contributes to a higher selling price of the final fashion wear. This high price might lead to lower sales or even closure, affecting international trade. Technology might also be a challenge that will influence international trade. The fast rate at which things are being invented might mean that some areas will have some form of technology that will not have reached other areas. Using modern ways of marketing might leave out a huge section resulting in lower sales and in turn impact international trade negatively (Martin, 89). It is clear that fashion trends change quickly and it is important for fashion providers to keep up with the market and their client’s tastes. This will need them to be fast and on point in meeting the demand and marketing strategies are some of the ways of doing this. By using the two trends they are bound to get quick feedback from the clients and act fast. The challenges are many but there are also ways of overcoming them just like they have been overcome in the past and currently. Works Cited Martin, Raymond. Trend Forecaster’s Handbook. New York: Laurence King Publishing. October 27, 2010. Print. Perlman, Sar & Sherman, Gerald. The Real World Guide to Fashion Selling and Management. New York: Fairchild Books. September 1, 2006. Print. Ziv, Yuli. Fashion 2.0: Season of Change: A Forecast of Digital Trends Set to Disrupt the Fashion Industry. Amazon Digital Services. 2014. Kindle. Read More