LOVELY PROFESSIONAL UNIVERSITY DEPARTMENT OF MANAGEMENT

Report on Contemporary Issues in Management

FASHION MARKETING

Submitted to Lovely Professional University

[Lecturer- Ms. Darshpreet Kaur]

In partial fulfillment of the

Requirements for the award of Degree of Master of Business Administration

Submitted by: KAUSTAV SHARMA T-1902 B-60 10907160

DEPARTMENT OF MANAGEMENT LOVELY PROFESSIONAL UNIVERSITY PHAGWARA

ACKNOWLEDGEMENT No Learning is proper and effective without

Proper Guidance

Every study is incomplete without having a well plan and concrete exposure to the student. Management studies are not exception. On the other hand it provide sound basis to adopt the theoretical knowledge and on the other hand it gives an opportunities for exposure to real time situation.
Intention, dedication, concentration and hard work are very much essential to complete any task. But still it needs a lot of support, guidance, assistance, cooperation of people to make it successful.

I bear to imprint the people who have given me, their precious ideas and times to enable me to complete the Report. I want to thanks them for their continuous support in my writing efforts.
I wish to record my thanks and indebtedness to Ms. Darshpreet Kaur Lecturer [LIM], whose inspiration, dedication and helping nature provided me the kind of guidance necessary to complete this Report. I am extremely grateful to Lovely Professional University for granting me permission to be part of this college. I would also like to acknowledge my parents and my batch mates for their guidance and blessings. Last but not the least I would like to thank the Almighty for always helping me.

KAUSTAV SHARMA

Table of Contents.
Introduction to the topic. Review of literature on fashion marketing. Origin of fashion marketing. Fashion marchendising. Elements of fashion marketing. Career in fashion marketing. Role of a fashion marketer.

Corporate example. Current scenario of fashion marketing in INDIA. Indian fashion trends implications. Facts and figures about fashion marketing. Expected growth rate of fashion marketing In India.

Introduction to the topic.

What is fashion marketing? Fashion marketing is producing to the target audience what the fashion designer is actually wanting to make the clothes or make the designs for and it is looking to, pretty much looking into these certain groups and finding out what they like, what they do like and what they will continue purchasing. An example of this is targeting a specific group of people and seeing what they like and what they are into and what they want to pretty much what they buy and so say a group would be more of the trendy pop people. What is the style about? How can you generate that for them to come to your store to buy your, to buy your product. So you are appealing to that and so it is from the photo shoots from the clothes, the design and the styling you are trying to get those audiences in to buying your products and your styles. So marketing is just more of generating your audience to come to you and appealing to them.

Definition According to Parson's school of Design, fashion marketing is the process of analyzing, developing, and marketing current fashion trends into sales strategies. Fashion marketers research current trends, the industry, people, and study why trends are popular. Who and What

Fashion marketers determine who is interested in a product.

Advertising

A fashion marketer helps set up ad campaigns based on their research. They ensure that the ad is geared towards the right group for the product.

Reading trends

The fashion marketer must act as a psychic. They must read past and current trends, and analyze the information to determine what will be the next big hit, and create the campaign before the trend hits the market.

Business

Those working as a fashion marketer must also have a sense for business. They must determine what styles and trends will generate the most profit, and which ones are the most marketable. Woodbury University states that those with a fashion marketing degree will be prepared for a job in the fields of fashion buying, store management, advertising, styling for the media, promotion, and public relations.

Degree

Review of literature on fashion marketing

Article by Robyn Tellefsen

With the right training, you'll be prepared for an entry-level fashion marketing position with textile, apparel, and pattern manufacturers; fashion salons; highfashion department On the business side, fashion marketers analyze and implement sales strategies, perform inventory control and cost analysis, and stay mindful of profits and losses. On the art side, fashion marketers are creative and innovative, they recognize good clothing when they see it, and they have the ability to sell it to the public. Typical fashion marketing responsibilities include: attending fashion shows and visiting designer showrooms; placing orders for clothing and estimating the amount of inventory needed; arranging for the receiving, storage, and display of merchandise; pricing clothes; designing visual displays and ad campaigns and promotions; consulting with fashion designers and consumers; keeping tabs on profits and losses; maintaining the physical appearance of a store; and hiring and training new employees. Ultimately, fashion marketers are the ones who figure out how to get people to buy fashion designers' latest creations. They must move trendy items into stores while they're truly in vogue. But fashion marketers can also create trends by heavily promoting certain looks at the right time. That's why successful fashion marketers need a solid understanding of consumer psychology and social trends.

Evidently, fashion marketing training is key to managing the many layers of this industry. Through fashion marketing programs, you'll learn how to use textiles, color, and design to create visual merchandising campaigns. Business courses will show you how to develop, analyze, and implement effective sales strategies. You'll learn how to use computers for cost analysis, inventory control, and other store operations. You'll also get schooled on merchandise economics, leadership skills, manufacturing, advertising, and store planning. All told, fashion marketing programs cover everything from retail buying, window dressing, and producing fashion shows to public relations and consumer behavior. They also explore new opportunities in online retailing, electronic retailing, and catalogue development as alternatives to traditional retailing. fashion marketing is a profession that takes the latest trends and designs in clothing and communicates them to a target market in such a way that the consumer is not only aware of the product, but wants to and ultimately does buy the product. A target market is a sector of the consumer market to which a company wishes to sell (i.e. market) its clothing. To fully know what fashion marketing is, it is important to understand that marketing does not stop at ads in magazines or commercials on TV. The world of marketing is just as dynamic as the world of fashion. Marketing clothing includes elements such as determining which stores the apparel should be sold in, what price the clothing should be sold for--all the way to how the in-store displays should look. Fashion marketers often are as savvy about business as they are about fashion and popular culture. Fashion marketers are creative. At the core, the profession is about connecting with the image--the lifestyle--the consumer wants. For example, in the fashion industry, comfort, style, material, color, symmetry, and usability are just the beginning of a list of elements designers must consider when developing a line of clothing. Fashion marketers take the task a step further by determining the best way to promote the characteristics of the clothing to the consumer and to which group of consumers to promote it to. What a 65 year-old female is looking for from a piece of formal eveningwear is completely different from what a 21 year-old male wants from casual everyday wear. Consequently, fashion marketers must stay abreast with the latest fashions as well as know what styles will be successful for a variety of occasions, age groups and demographics. Article by Ezine. Fashion marketers play an essential role within the fashion industry because they are the link between designers and the public. The success of a line of clothing does not rest solely on its design. Often, successful marketing is just as crucial, if not more so, to the line as the actual clothing itself. This is because marketing is the tool through which the designer identifies with the public, and the public identifies with the designer. Without this exchange, it would be difficult to establish the consumer base required to have a successful line of clothing. Ultimately, fashion marketing is a fun profession--changing and reinventing itself just as often as the clothes it promotes. It integrates the artistic nature of fashion with the creative aspects of business--making for a highly rewarding career to the

ambitious and innovative. Fashion marketing articles give an insight into the zeitgeist. Such content is drafted keeping in mind the taste and tone of the reading audience over the web. Readers include young generation, office going people and the like. Before you actually indulge in their marketing, you need to keep in mind before you indulge in it is that you should have good and compelling content for submission. If you don't have it, you have failed in first step itself, let alone the money making scheme which you'd aimed from day one. You cannot wage a war without the ammunition. And the same is true out here as well! Such content largely aims at business, advertising and the fashion panorama in general. However, do keep a track that you have submitted in top 5 ratings otherwise, you would not be able to get the rank in the top listings category. Fashion Marketing Articles requires you to submit the text in the web based article directories. When you go in this manner, you are borne with the potential to make you rich and popular. With thousands of submission directories lurking out there, you should be able to roar high and make the lead name in just matter of time.

Origin of fashion marketing. The first designer in the history was Charles Fredric in mid 20th century in Paris. In mid 20th century many design house began to hire artists to sketch or paint design for garment. The images alone could be presented to the clients much more cheaply than by producing an actual sample garment in the work room. If the customer liked they ordered and resulting in profit. And there started the origin of fashion marketing. What is fashion merchandising? Fashion merchandising is the combination of the processes that a new fashion item must go through to be available in mass quantities to the consumer after it is left the hands of the designer. Fashion merchandising often gets confused with fashion marketing and although they work together, they are two very different

things. To understand fashion merchandising completely, it is important to examine the role that fashion merchandising plays in manufacturing, buying, promoting and selling fashion items. In regards to manufacturing, a fashion merchandiser will have significant input on the types of fabrics used to make a piece of clothing. Having a strong historical and socio-cultural understanding of the fabrics, help change a designers vision into reality. By applying their knowledge about fabric and clothing construction, a fashion merchandiser will take a designers piece and find the best way to manufacture the item while taking things like target market into consideration. The final component of fashion merchandising is selling. A fashion merchandiser that works with a designer is responsible for selling fashionitems to stores, who then sells to consumers. Again the merchandiser must have an idea about forecasting and market trends so they may give their recommendation regarding production of the item. Creativity is important, because a merchandiser must offer suggestions on how to display the items within the store. When a fashion merchandiser works for a retail store, responsibilities include buying and presenting fashion items within the store.

Elements of fashion marketing. Emphasis is placed on professional competence in the areas of fashion Display. Buying. Selling. And management. You should have an eye for style and a head for business.

Career in fashion marketing. Many are attracted to pursue a career in the fashion industry due to lucrative income opportunities. Aside from that, the idea that you can succeed on your own motivates aspirants even more. As a matter of fact, about one-third of professional fashion designers are self-employed. In general, fashion designer professionals have innate artistic and creative qualities. They use their creative gifts and artistic talents to create unique design concepts for various fashion applications. Today, fashion designer professionals are in demand in

a variety of industries. Since there is a constant demand for fashion designers specializing in a particular field, most of the aspirants focus their talent in one specialized fashion area like interior designing, merchandise displays, clothing/apparel, theatre sets and many more. In order to become an efficient fashion designer, you have to take note of these three important things: The primary needs of the client The focal point of the design The design's appeal to customers/consumers You have to always equip yourself with fresh and new ideas since market and fashion trends are constantly changing. Currently, there are a number of fashion design careers available. Some of the popular fashion design careersthat you should consider are as follows: Visual Merchandise Designers: They are mainly responsible for designing window displays, arranging store merchandise, creating props and accents, organizing clothing placement, styling mannequins, and spearheading marketing campaigns. Fashion Designers: Those working as fashion designer professionals are typically tasked to create designs for clothing and apparels. Some work with popular fashion designers while others are managing their own fashion labels. Set Designer: As the name implies, set designers are primarily assigned to conceptualize designs needed for movies, television sets and theatre productions. Their styles and designs must always be in line with what the script or the director requires. Some set designers produce unique set design for trade shows and museums. Interior Designer: The main goal of interior designers is to perfectly combine form with function. Their primary function is to introduce interior concepts that will increase the beauty, safety and functionality of a particular space or area. Interior designers work in a variety of settings including retail stores, residential homes, offices, hospitals, hotels, and many more. Training, Education, and Advancement Educational requirement for different fashion design careers vary greatly. But, bear in mind that school is not the only requirement that you need to satisfy in order to land good job offers. Although educational background is a deciding factor for employers, applicants must also possesses good qualities in order to be efficient with their jobs. A good fashion designer would have a keen eye for detail, exceptional creative talent, superb artistic skills, and great determination. A fashion designer aspirant must earn at least an Associate degree in order to get an entry level position. That being said, it is a must that you acquire formal training from reputable fashion designer schools. You also have to choose the right fashion designer programs that will help hone your skills and talents. Those who want to pursue higher paying fashion designer positions should pursue a 4-year Bachelor degree program. Applicants who have earned a Bachelor degree will have more chances of locating greater-paying fashion design careers. Pursuing advanced fashion degrees will expose you to more extensive fashion trainings and

more rigorous fashion design curriculums. Fashion designer aspirants who enroll in 4-year course programs will acquire additional skills in marketing, advertising, business, liberal arts, management, and many others. Fashion designer aspirants must develop unique skill sets, good sense of style and exceptional creative qualities in order to gain the competitive edge. Participation in internship programs and working in entry level fashion designer positions will earn you the necessary experience you need to pursue advanced fashion design careers. Job Outlook More fashion designer jobs will continue to flourish due to the consistent need for skilled and qualified fashion designer professionals. That being said, competition will become more intense. Aspiring fashion designers should prove themselves by showing their capabilities and hidden potentials. Those who want to stand out must satisfy higher educational degrees and should possess ingenuity and persistence. Among the different fashion designer careers, those who specialized in graphic design are projected to have higher employment growth rate. There will also be a continuous demand for interior and industrial designers. Meanwhile, visual merchandisers will just have a natural turnover due to the need to fill in soon-to-be vacant positions. Fashion Salary Income rate of various fashion design careers fall in different salary ranges. But majority of fashion designer professionals earn a median annual salary of around $35,000 to $75,000. Other fashion design professions receive the following annual income range: Graphic Designers: $20,000 to $65,000 Interior designers: $21,000 to $71,000 Merchandise Displayers: $15,000 to $40,000 Set designers: $18,000 to $63,000 As professionals gain more experience, they will attract better job offers. Meanwhile, entry-level fashion designers still have higher salary rates as compared to other professions. With formal schooling, more relevant experiences, distinct skills, and specialized trainings, fashion designer professionals will have better chances of finding more lucrative job opportunities! As with any career, the best way to start a new career on the right foot is to get an education. A degree in Fashion Design or Fashion Merchandising can get your foot in the door of one of the many fabulous career opportunities in the rapidly growing fashion industry. Whether you are interested in fashion design production, marketing and merchandising, fashion media and promotions, or any other type of fashion career, a degree will help you learn the skills necessary to bloom in the fashion industry. Read on to see what fashion careers are available to you!

Fashion Design Production Fashion and accessory designers use their knowledge of design principles, techniques, and tools to create sketches and models of original garments, shoes, handbags and other fashion accessories. They often specialize in a particular facet of clothing design, such as men's, women's, children's wear, or lingerie. While some fashion designers control the entire design and marketing process, others use the services of patternmakers to create original textiles and trimmings, production managers to oversee the actual creation of the fashion line, and fashion merchandisers to introduce and establish the designs in the fashion marketplace. Fashion Marketing/Merchandising Fashion marketing and merchandising professionals are responsible for identifying and creating fashion trends to sell the products created by fashion designers. Drawing on their knowledge of consumer psychology and trends, they promote fashion with advertising and visual marketing campaigns. The fashion merchandising field includes jobs in both retail and wholesale sales. Fashion Media & Promotions The fashion industry offers a number of opportunities for creative professionals who aren't attracted to the design side. Fashion writers and editors are employed by newspapers, magazines, web sites, and other media outlets to keep consumers upto-date on style trends. Fashion photographs, illustrators, and stylists are often employed by catalogs and magazines. Other Fashion Careers Other fashion career opportunities include costume design for TV, film and theater productions; personal stylist positions with high-end department stores and private clients, and modeling work for everything from newspapers ads to strutting the catwalk in Milan or Paris. Role of fashion marketer. Fashion marketers. Design product launches. Product promotions . Branding campaigns. And they conduct market research.

Corporate example. There are companies who are earning millions of dollars each day from fashion the example of few of them are, ZARA. Zara produces of-the-moment fashion and has developed a very successful vertically integrated company which can design, manufacture and distribute

garments to retail stores in as little as three weeks. Zara's target market is comprised of Urban, Fashion-conscious consumers, who shop frequently for the latest trends D&G The high-end fashion house of Dolce & Gabbana was started by Domenico Dolce and Stefano Gabbana , who were both Italian designers. They are famous for their designs that were worn in Hollywood. They have already designed clothes for many prominent movie and music icons such as Madonna, Monica Bellucci. Gisele Bndchen. Ayumi Hamasaki. Kylie Minogu.

Dolce & Gabbana has two central lines that target on different appeals of taste. The first one is Dolce&Gabbana, which specializes on the more expensive luxury items.. This line also markets corrective eyewear, fragrances and sunglasses. The second line is D&G, which is the more casual line which follows an urban inspiration.. It has fragrances, corrective eyewear, jewelry, sunglasses and timepieces.

Louis and Vuitton. It is French fashion house founded in 1854. The brand is well known for luxury products like shoe, watches ,jewelery ,books and sunglasses. Louis and Vuitton is one of the worlds leading international fashion house.

About Abercrombie &Fitch Abercrombie is an American retailer that focuses on casual wear for consumers ages 18 through 22. The brand is having 300 locations in US and now expanding internationally.

Current scenario of fashion marketing in India. Indian fashion trend implications.

Three factors that make fashion marketing in India a challenging landscape. The Indian customers are being brand aware a lot. Indians like to experiment and fuse western wear with Indian designer clothing, adapt western trends and Indianize them as per local trends. Lastly, India is not only open to western designer brands but also home to domestic talent and a long-running royal patronage of luxury.

Facts and figures about Indian fashion marketing.

Consumer spending on apparel in India has grown over the last 5 years touching the global benchmark of 5% of the total income. US is the single largest buyer of Indian textiles and apparel with 32% share. Clothing textiles and fashion accessories from 39% of the 55,000 crore organised retailing in India.

Expected growth rate of Indian fashion marketing in future.

 The demand of readymade garments in rural India will surge at an annual rate of 16.50% Readymade garments exports from India is expected to touch US $ 14.5 billion by 2009-10 with a cumulative annual growth of 18 % to 20%. The Indian fashion industry is expected to rise at a stupendous pace of 22.67% through 2012.

CONCLUSION Marketing is the key driver of fast fashion. Marketing creates the desire for consumption of new designs as close as possible to the point of creation. This is achieved by promoting fashion consumption as something fast, low price and disposable. The fast fashion business model is based on reducing the time cycles from production to consumption such that consumers engage in more cycles in any time period. For example, the traditional fashion seasons followed the annual cycle of summer, autumn, winter and spring but in fast fashion cycles have compressed into shorter periods of 4-6 weeks and in some cases less than this. Marketers have thus created more buying seasons in the same time-space. Two approaches are currently being used by companies as market strategies; the difference is the amount of financial capital spent on advertisements. While some companies invest in advertising, fast fashion mega firm Primark operates with no advertising. Primark instead invests in store layout, shopfit and visual merchandising to create an instant hook.[17] The instant hook creates an enjoyable shopping experience, resulting in the continuous return of customers. Research shows that seventy five percent of consumer's decisions are made in front of the fixture within three seconds.[8] The alternative spending of Primark also "allows the retailer to pass the benefits of a cost saving back to the consumer and maintain the company's price structure of producing garments at a lower cost".