FD - Ch. 9

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Chapter 9 Fashion Productsand Research Fashion Products and Planning Fashion Market Research

Chapter Objectives : 

Chapter Objectives Describe fashion products. Explain trade associations. Explain trade publications and fashion magazines. Discuss aspects of product planning. Describe the methods used to do market research. Explain market segmentation and target market research. Define merchandise information systems.

Fashion Products: Goods and Services : 

Fashion Products: Goods and Services Goods are tangible items that are made, manufactured, or grown. Section 9.1 Apparel Textiles Accessories

Fashion Products: Goods and Services : 

Fashion Products: Goods and Services People in all segments of the fashion market—primary, secondary, or tertiary markets—offer services. Section 9.1

The Fashion Trade : 

The Fashion Trade The rag trade has many trade associations. rag trade the slang term for the garment industry Section 9.1 A trade association promotes a specific group, sets standards, and provides a means of communication among its members. trade association a nonprofit organization that provides services to specific groups who develop, make, and sell products within an industry

Types of Trade Associations : 

The Fashion Trade Section 9.1 Types of Trade Associations American Fiber Manufacturers Association—fiber production American Yarn Spinners Association—yarn production American Textile Manufactures Institute—fabric manufacturing American Association of Textile Chemists and Colorists—fabric finishing Council of Fashion Designers of America—apparel designing American Apparel and Footwear Association—apparel manufacturing and sales National Retail Federation—retail activities The Fashion Group International, Inc.—all segments of the fashion industry 7

The Fashion Trade : 

The Fashion Trade A fashion trade publication is a type of fashion product, though they are not always sold commercially. trade publication a magazine, book, or journal offering a variety of information to a certain industry or a segment of an industry Section 9.1 Women’s Wear Daily is the major American fashion trade publication.

The Fashion Trade : 

The Fashion Trade A fashion magazine is a type of fashion product that is sold commercially. fashion magazine a consumer magazine sold commercially, featuring articles, illustrations, and advertisements with an international emphasis Section 9.1 The public gets most fashion news from fashion magazines.

The Fashion Trade : 

The Fashion Trade Examples of popular fashion magazines are: Section 9.1 Vogue Marie Claire Glamour Cosmopolitan InStyle GQ (Gentlemen’s Quarterly) Teen Vogue Teen Glamour Seventeen When did you start reading fashion magazines? Do they influence your personal style? Has the type of fashion magazines you read changed?

Fashion Product Planning : 

Fashion Product Planning The product planning process includes developing a product mix and product assortment that will satisfy the needs and wants of the market. product mix the total selection of goods and services that a company makes or sells Section 9.1 product assortment the range of items or merchandise within categories that a company sells

Fashion Product Planning : 

Fashion Product Planning The number of different items offered within a classification of products is called assortment breadth. A product assortment has depth if it consists of a large quantity of the goods offered. Section 9.1

Product Development : 

Fashion Product Planning Section 9.1 Product Development Company Goals Merchandising: Plan, Budget, Line, Size Design: Idea/Sketch Sample Pattern Sewing/Fitting Sample Garment Line Selection Market and Trend Research Economic, Global, and Technological Influences Cultural and Artistic Resources Color Fabric 13

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What are the two types of fashion products? What trade association represents all segments of the fashion industry? What are the two characteristics of assortment? 1. 2. 3. Section 9.1 9.1

Market Research and Fashion : 

Market Research and Fashion Market research is an essential part of the product planning process in the fashion industry. Section 9.2 market research the systematic gathering, recording, analyzing, and presentation of information related to marketing goods and services

Market Research and Fashion : 

Market Research and Fashion Market analysts are specialists who gather marketing information, analyze data, compile reports, and assist all segments of the fashion industry by providing information. Section 9.2

Gathering Marketing Information : 

Gathering Marketing Information The methods of gathering marketing information are: Section 9.2 survey method a research method that involves gathering information from people through surveys or questionnaires The survey method The observation method observation method a research method that involves watching people and recording consumer behavior by cameras or individuals

Gathering Marketing Information : 

Gathering Marketing Information The methods of gathering marketing information are: Section 9.2 experimental method a research method whereby a researcher observes the results of changing one or more marketing variables while keeping other variables constant The experimental method The focus-group method focus group a panel of six to ten consumers who discuss opinions about a topic under the guidance of a moderator

Market Segmentation : 

Market Segmentation Market segmentation is a way of dividing the total market into smaller groups and analyzing each group by specific characteristics. Section 9.2

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Market Segmentation Section 9.2 Research Age Gender Income Analyze MaximizeSales Improve Communication and Services Target MarketDemographics 20

Merchandise Information Systems : 

Merchandise Information Systems The set of procedures for collecting, storing, and analyzing research data is called a merchandise information system. Section 9.2 merchandise information system a system that produces, stores, and analyzes information that enables fashion marketers to make decisions about merchandise for sale Researchers must collect data on a continual basis.

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Merchandise Information Systems Section 9.2 Merchandise Information System Sales recordsand supplier data Customer profile data Competitors’ records Government data 22

Market Research and New Products : 

Market Research and New Products Businesses must respond to market research on a timely basis so that the research will be more productive. The information can help solve problems and make business decisions. Section 9.2

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