However, fashion comes and goes and is never constant. A myriad of factors define the fashion retail market, namely the interactions among fashion companies and the interaction between fashion companies and the consumer. As a result the approaches taken towards fashion marketing have to be adjusted and revamped Clothing industry analysis essay order to effectively target the latest and future trends.
It was handmade for individuals, either as home production or on order from dressmakers and tailors. Essentially fashion marketing is composed of elements of fashion designing and marketing management which are combined together to develop a comprehensive marketing plan for fashion products.
Hire Writer These levels consist of many separate but interdependent sectors, all of which are devoted to the goal of satisfying consumer demand for apparel under conditions that enable participants in the industry to operate at a profit.
The very nature of fashion, where change is intrinsic, gives emphasis to marketing activities. Fashion marketing is based on the identification of market trends which are used to analyze, develop and configure related marketing strategies and promotional activities for fashion products.
The fashion industry has long been one of the largest employers in the United States, and it remains so in the 21st century. In order to be successful fashion marketers have to be future oriented with forecast information about the market.
For example, an American fashion company might source fabric in China and have the clothes manufactured in Vietnam, finished in Italy, and shipped to a warehouse in the United States for distribution to retail outlets internationally. There is no doubt in the importance of fashion as an industry branch.
This marketing strategy and the related plan is composed of different tasks relative to the elements of promotions, advertising, retailing, branding, affiliate marketing, and distribution.
As such, this Clothing industry analysis essay consumer culture lays the foundations for consumption, and demand and supply, of fashion in a society. The fashion industry, which is very volatile, is not an exception, it too has its own share of strengths and opportunities which once utilized by an organization can help it grow substantially and weaknesses and threats which the organization must strive to minimize to the lowest possible levels.
But with the ever changing trends and fashion, we see that people have to constantly buy and consume new goods and services to stay in fashion.
This knowledge is the main resource available to fashion marketers to develop a marketing strategy for their fashion based products. Coupled with mass media and advertising, market makers sell lifestyles and consumers consume such products and lifestyles in hope for upward mobility in the social hierarchy.
The amount of money it produces and the number of people it employs makes it a very significant area in the world of economics. Being so closely entwined any detailed analysis cannot be done without observing both How to cite this page Choose cite format: Fashion creates a desire for ownership.
Selling is the final activity of business. Although the fashion industry developed first in Europe and America, today it is an international and highly globalized industry, with clothing often designed in one country, manufactured in another, and sold world-wide. Not only The global fashion apparel industry is one of the most important sectors of the economy in terms of investment, revenue, trade and employment generation all over the world, but also The Business of Fashion is an essential daily resource for fashion creatives, executives and entrepreneurs.
The analysis is used to define both the unfavorable and favorable factors and their impacts on goals of the business. In order to survivethe ability to sell has a great portion of importance among other business abilities. The retailers seem to have the most power in defining the market as they possess the power to market goods at prices desirable to them.
Prior to the midth century, most clothing was custom made. The fashion industry demands that in order to have an effective fashion marketing strategy, companies need to understand and identify their customers, the trends in the fashion industry as well as how the branding and the marketing of their products effects the purchase behavior of the consumers.
The fashion industry is rather a very sensitive industry toward changes in the culturalsocial and economic factors. By any measure, the industry accounts for a significant share of world economic output.
On the other side economic situation and changes within it also leave trace on fashion industry. The fashion industry is a product of the modern age.
Hence, consumers do play a vital role in forming the fashion retail market as well. By the beginning of the 20th century—with the rise of new technologies such as the sewing machine, the rise of global capitalism and the development of the factory system of production, and the proliferation of retail outlets such as department stores—clothing had increasingly come to be mass-produced in standard sizes and sold at fixed prices.
Marketing in the fashion industry is often difficult as the industry is very volatile with constant changes taking place in its external as well as internal environments. According to basic economic theory, the price of a good is determined by the demand by consumers and supply of the good by the producers in the economy.
Conducting a marketing analysis, that is, reviewing the strengths of an organization, its weaknesses, opportunities it can capitalize on for maximum profits, and the threats to achieving its full potential provides very invaluable information to the organization about the market and understanding the industry, as well.
However, the market price is in fact also determined by consumers. It is relatively harder or more complicated to understand why a product of a fashion industry sells while others are not.
Fashion marketing is the application of a range of techniques and a business philosophy that centers upon the customer and potential customer of clothing and related products and services in order to meet the long term goals of the organization. Companies perform various efforts to enhance their selling capabilities.Clothing Industry and Competitive Strategies Essay Words | 11 Pages.
Clothing Industry and Competitive Strategies Introduction Clothing industry in the U.S is a big but very competitive industry. Clothing Industry Analysis Essay Sample-Global women’s clothing industry is expected to exceed $ billion in % increase in 5 years. Consumerism and Consumption in the Fashion Industry Essay.
Many people think fashion is just all about design or the clothing that you wear. In fact, the definition is “a popular way of dressing during a particular time or among a particular group of people” (Fashion).
May 11, · U.S. clothing stores are more profitable than they have been in years, even as sales growth has slowed, according to an analysis of private-company financial statements by.
The US industry is concentrated: the 50 largest companies account for about 70% of industry revenue. Products, Operations & Technology Major products include women's clothing (about 50% of industry revenue), men's clothing (about 20%), and clothing for children and infants (about 10%).
Five-fore analysis of B2C industry and Amazon’s market valuation Background of B2C industry Amazon is an American commerce company that sells electronic products and used for business-to-customer (B2C) transactions.
It began its business as an online bookstore, and is developing to selling many other electronic innovations.Download