Opportunities And Features Of Development
In today’s competitive fashion market, the subject of trends and prospects for the development of the fashion sector appears to be very controversial. At the same time, the relationship between consumers and manufacturers is becoming increasingly reliant on the marketing methods employed by a certain fashion market. This addresses the difficulties of developing and implementing successful marketing tactics that are in line with current fashion trends within the context of global trends.
The purpose of this article is to define marketing strategies in the fashion industry, reflect growing trends in the current fashion industry, and formulate priorities for fashion company development based on marketing features of enterprises working in this field. It’s also crucial to indicate the future of the addressed issues, represent the uniqueness of the subject at hand and evaluate the possibility of employing a marketing strategy in the operations of fashion industry leaders. In addition, this topic is researched by professional writers who also offer a “write my paper” service for students.
The fashion industry: the essence and characteristics of its products
Fashion is a complicated, multifaceted phenomenon for which there is no single, unambiguous interpretation that captures the essence of the idea. Many scientists look at fashion through socio-cultural, art historical, and other factors.
Fashion, in its broadest meaning, is a process aiming primarily at the individualization of personality and the construction of a system of images from which value judgments can be drawn.
Most definitions of the essence of the concept of “fashion” may have three definitions:
- fashion is “a synchronously closed structure with a certain property: to change”;
- fashion is “not only a cultural phenomenon, but also a socio-cultural institution of modern society with its characteristic functions, structure, and forms”;
- fashion is “a system of group preferences that includes not only taste but also a shared style of behaving for many people”.
The above definitions of the term “fashion” show that it is very multifaceted. It is characterized by constant variability, as well as the ability to construct, predict, distribute and implement certain values and behavioral patterns, to form the tastes of the subject and manage them. In this regard, an important issue seems to be the definition of the specifics of goods inherent in the fashion market, or, in other words, the fashion industry.
Fashion is ephemeral and is a huge, worldwide industry that is both diverse and ambiguous. It is tightly linked to modern technology, aesthetics, and functionality. Comfort, lightness, and breathability are crucial in sportswear; color, fabric structure, and style are especially significant in summer evening wear. Designers, materials scientists, experts in the field of supply chain and logistics, strategists, and other professionals are essential to the success of a fashion business. The fashion industry includes all areas of design, manufacture, marketing, and distribution, resulting in the release of the finished product, brand development, and promotion.
A distinctive feature of the clothing market that claims to be “fashionable” is the pronounced social nature of product consumption. Clothing, obviously, says more about its owner than any other thing.
Specifics and opportunities of marketing in the field of the fashion business
Currently, on the world market of women’s clothing, there are a huge number of brands, similar not only in the range offered but also in pricing policy pursued by companies – manufacturers of fashionable clothing. In this regard, in order to stand out from the competition, it is necessary to conduct an active marketing policy. This should concern both assortment formation, pricing, product promotion, and sales promotion. This fact determines the specifics of fashion marketing because, without a well-designed marketing strategy, many women’s clothing firms will fade away before they have a chance to become really recognizable.
Marketing in the fashion industry is often called fashion marketing. It became widespread in the second half of the 20th century. This period saw the emergence of a wide range of designs and trends in the world of fashion, which has since grown to become one of the most profitable sectors of the economy.
Fashion has ultimately evolved into a socioeconomic phenomenon that not only reflects but also often initiates societal changes. Fashion marketing helps to ensure interaction and contact with the buyer, and draw his attention to the proposed clothes, shoes, and accessories. Marketing promotes a combined perception of the buyer of the fashion items offered to him, complementing the visual contact with strong emotional, and often rational arguments.
Fashionable clothes are a kind of a public shell, which allows everyone to declare the inner and outer world of its owner, thus performing the communicative function of the individual with the world. Marketing amplifies it, which pays special attention to clothes design, construction, and production, as well as the creation and introduction of new materials, patterns, computer programs, and high technology. The human factor is very important – the skill of fashion designers, constructors, tailors, models, etc.
Without a question, the fashion sector is highly competitive, with a big number of target customers, and each brand competing for market dominance. Because the fashion industry’s consumers have such diverse tastes, marketing strategies must be chosen with extreme care.
Features of marketing in the fashion industry
Given that marketing is one of the most significant techniques for promoting the growth of items in the fashion market – clothing – it is critical to understand its characteristics in this sector. Let’s take a look at a few of them.
Marketing within the framework of a socially significant factor.
Because fashion is largely a social and cultural phenomenon, and each social group in modern society has a distinct visual range, it is critical to match the appearance of a specific group or “society” in each situation. A classy party, for example, may include the presentation of new clothing collections. In most cases, these are evening gowns or casual attire, but business conversations necessitate the wearing of business attire. As a result, successful fashion marketing is frequently based on the consumer’s impression of the social relevance of clothing in a particular scenario.
Marketing in the condition of rapidly changing collection.
Fashion is formed outside of any framework, be it social or temporal. As for the latter, it is important to note the speed of change in fashion trends and tendencies, and in this regard, accurate marketing planning and forecasting is a necessary and quite important condition for determining the trends of the coming season, the timeliness, and accuracy of which the success of the collection and, consequently, sales depends.
Marketing mix in the fashion industry.
Advertising, PR, personal selling, sales promotion, etc. – are actively used by manufacturers all over the world, but the fashion business also has such marketing activities as:
- display of collections or fashion shows, which have recently become real shows, with beautiful music, bright lighting, and the participation of celebrities;
- coverage of these events in fashion newspapers, magazines, TV, interested in the fashion industry.
Neuromarketing and its methods, such as musical arrangements, interior design, lighting, and the use of fragrances to establish the buyer’s associative range with a specific brand, are becoming increasingly popular.
Brand marketing in the fashion industry.
The success of developing a brand is determined by whether it will be in demand and recognizable in the future, whether it will be successful, or whether it will be forgotten by the consumer. And where, if not in the fashion industry, are these brand-related questions particularly important? The clothing market, which operates in a highly competitive context, has a tremendous brand impact on customers. In this regard, brand development and marketing appear to be a critical and responsible task for marketers. In the future, it will be effective marketing that will determine whether a fashion-market company succeeds or fails.
Marketing in the formation of purchases in the fashion market.
The fashion clothing market has recently been defined by the fact that most of the demand for goods is generated by customers who purchase goods on an import basis or through a franchise, rather than by the manufacturers themselves. They keep track of seasonal trends, link them with consumer demands in a given country, and place orders with manufacturers. The effectiveness of the buyers’ activity is based on the fact that marketing activities such as advertising, personal sales, public relations, and other similar activities are used to form the buyer’s loyalty to the fashionable clothes promoted to the market, as well as to the brand of these clothes.
The result of rational marketing can be not only an increase in sales but also a sustainable consumer commitment to a particular brand. And in case of success, it is possible that this clothing will ascend to the Olympus of fashion!