Fashion marketing Processes

Fashion trade ProcessesINTRODUCTIONFashion commercialiseing is some subject new and upcoming on the horizon , especially in India with the rising slope in Indian middle class. Globalization and the shape of economy, its positive impacts are also evident in retail , textile and array industry and hence mien. Some are already here and others are headed this way . Global spurt brands like Tommy , Chanel , LV have found Indian shores and starting to create their high life niche markets. These dramatically ever-changing market conditions have bolstered the affect for highly competent fashion marketing professionals who can event up key positions in fashion marketing, Brand management and related areas.FASHION MARKETERSAn extremely interesting and creative field to work in , there are many upcoming courses to tap on the rationalise of fashion marketing. Aspirants of such course should be creative as well as knowledgable of the purlieu and the industry on the whole. It has been a major source of argument that fashion marketing is different from other goods marketing simply because of the nature of such an industry. some other very unique feature in fashion marketing is that with no trade barriers , globalization , considerable variations in culture, ethics, social perspective , it is not identical even at the national level, let alone the international arena. Hence its biggest challenge.Delhi based Pearl Academy of fashion and WLC have already started post ammonia alum programs on fashion marketing . Seeing the rise in demand of Indian fashion industry , its time value chain has also increased in a phenomenal growth percentage Fashion marketing is all almost how the clothes should reach the market when they have been designed and created. That is where the fashion marketing team takes charge. It seamlessly integrates advertising , design and business admin and a knowledge base about the fashion industry to be successful.For example who would be intere sted in a silk blouse ? A 15 year old girl or a 30 year working woman.these marketers have a good awareness of popular culture and what go away become stylish and in for the future. They should not only what will be successful but also which consumer group will be more(prenominal) interested. The fashion marketing processA major part of the fashion marketing is behind the scenes in the sense that they keep stops on the latest fashion trends and consumer buying habits , put together campaigns that target those specific consumers keeping in mind the broader world of fashion . They are savvy composition team , the connectors amidst the designers and the public.Fashion weeks , top notch fashion magazines like Vogue , Verve etc , fashion calenders, trends , blogs are where fashion is seen best. Fashion marketers need to be updated on all the fronts to exist in this dynamic, cut -throat, bling industry.FASHION MARKET AND INDIAThe fashion market has been categorized and structured as belowHaute couture are the illustrious international fashion houses of the world. physical bodyer wear is shown as prt-a-porter. Mass markets are the market area where most people buy their clothes. The size and value chain of fashion market is shown belowAs we are witnessing the Indian consumer is evolving and the fashion companies in India are reacting to this evolution through countless options. The fashion market has been growing leaps and bounds due to the young population , increase and rise in the middle class , increase in consumption and retail . This publicise and pull mechanism has make several businesses react to this with the retail business having the largest share of modern organised retail in India ie 20 % of the live market of Rs 56000 crore. Bilateral Co-operation in this sector shows great synergies. An IndoItalia Task Force on Fashion Design and life Style products has been created following an agreement between the Indian Ministry of Commerce and Italian Mi nistry of International Trade. On the Indian side members include FICCI Federation of Indian Chambers of Commerce Industry , NID National Institure of Design while on the Italian side there is Confindustria, Altagamma, Universita Bocconi, ICE.A few facts Georgio Armani has signed up with DLF , adjunction sham with the most reknowned real estate star sign . Armani will get Rs 10 mn into this retail venture. It will be opened up in New Delhi. Reliance Brands has entered into 4951 joint venture with Sixty Group . Its an Italian fashion house retailing its brands in India. Raymond had also tied up GAS to bring its retail venture to India. Consumer spending in India has increased over the last few years nearly touching the global benchmark of 5 % of total income In the medieval 3 years , Investments in the textile sector has increased from $ 3 Bn to $ 8 bn. Europe is Indias biggest export market. Demand in rural India for ready made garments will increase at 16.6% annually to tou ch US$ 10.41 Bn by this year. Versace is going to tie up with Reliance Brands The fashion Industry is expected to rise at 23 percent by 2013FASHION MARKETING ROLESA fashion marketer has to don various caps to do suitable justice to his profile, which includes uniform innovation Brand loyalty Consumer decisions and shopping behaviour Manufacturing systems Market positioning Merchandising Perceptions in the marketplace Piracy issues Pricing structures Product image prime(prenominal) and performance measurement The importance of socio-economic factorsRole of technology in Fashion marketing merchandising fashion is about visual communication at the basal level.Media designers and fashion marketers are using the internet as strong medium to reach out to the massesThe Fashion CycleStyles will be introduced, taken up by the fashion-forward, and then acknowledged and accepted by the general population. It will phase out once it is popularized.and by then designers will be busy with the new look.And this is where the Internet comes in. What is worn by a celebrity today can literally be seen by thousands the same day, increasing demand and ultimately shortening the life cycle of a fad. Retail TechnologyThere are specialised and personalised softwares for assisting buyers, merchandisers , managers to not only track gross revenue but buy raw materials more efficiently . And the internet has made it easier for fashion coordinators , fashion directors , graphic designers , advertising , stylists and so on to keep a tab on the fashion world on a minute to minute basis . Store managers , consumer consultants etc can determine and forecast sales for the integral chain or region by pulling up updating data from the internet.Creative OpportunityGraphic designers , advertisers, photographers have much much more opportunities to design , sketch , write about trends because of the internet . They can write about who is wearing where on which red carpet , about the various fas hion weeks going on around the world and open the doors to international fashion.Social MediaSocial networking groups and fashion blogs are putting the action from all across the ground . Justjared is one such hugely successful blog reporting what celebrities wear and what is in trend all across.They have been phenomenal to say the least.These local trend setters are having a gala time with the publicity and interest they are generating in the world of fashion.EducationStudents of fashion marketing , fashion PR , fashion merchandising are being trained and made accustomed to study and utilise marketing trends on the internet .Luxury market and Fashion MarketingLuxury brands are always about making their customers feel they own something one in million. And fashion marketers have acknowledged that the highlife wave is smasher Indian shores with a number of luxury brands entering the market such as Zara , Liz Clairborne , Burberry etc.The Luxury Marketing Council Worldwide has esta blished a chapter in India, with the aim of promoting luxury in India. Their task will also be to build synergy between various luxury brands interested in India by way of sharing of consumer insights as well as best practices. Hindustan Times has been extremely active and is pioneering the luxury revolution in India by organizing two Indian Luxury Conferences in the last 4 years.And it also supplies monthly magazine of luxury goods available in India, creating awareness and enthusiasm. The luxury market is relatively littler with respect to the number of companies, but goes much beyond its weight both in terms of sales and more specifically, influence. Luxury market leads the world of onward motion , PR and marketing per se they have the best packaging best merchandising , best promotions and the best of prices .Some insights There were 135,000 millionaires (in US dollar terms) in India in 2009. The affluent market is growing at a rate of 13% in IndiaThe wealth potential of India s affluents and their preferences have been found to match the atomic number 74The role of fashion marketing is even more important in the field with new developments , theories and knowledge to be shared any day and the trends changing every season.The focus of luxury brands in India is about how soon they will settle themselves here and how will they cater to our Indian audience . In luxury business no one can afford to treat their customers as loose segment. A number of Western brands have already started on guidance on the very demanding Indian consumer giving them fashions like ethnic chic etc to found them a taste of their own sensibilities and capturing their interests. A word of caution that goes for luxury marketers, irrespective of their brands and geographical presence The luxury consumer is always looking for newer ways to satisfy his continuously changing needs. Hence, the need to keep a close tab through insightful research is of prime importance. ConclusionFashio n marketing has the best of both worlds fashion and marketing. The fashion marketer must know about brand equity, marketing techniques and consumer buying habits. As far as India is concerned, given the rapidly accelerating affluence of the masses, the scenario is set to witness a boom . Universities have started to give out courses in this specialization sensing a need from the market.All fashion houses , luxury brands , retail chains have sensed the need for the two to be combined and present the crucial role of a fashion marketer. A very lucrative and creative field , it has gained huge popularity and is the most upcoming thing in the marketing world. The ones who will be riding the wave will be the ones whove kept their ears open to each and every word of their each and every customer.