What is the sale price of an item that is $ and is 15% off?

$ * 15% = $  $27.00 $ $27.00 = $ The sale price is $

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Bell Ringer / Discuss Agenda Fashion Marketing Basics Lecture Introduce studying consumer behavior activity.

TopicPage # Chapter 1 Vocabulary 4 Chapter 1 Vocabulary 5 Elements of Design Flip Book 6 Chapter 1 Notes. Introducing Fashion 7 Color Schemes 8 Chapter 1 Notes. Introducing Fashion 9 Body Shape Outfits 10 Chapter 1 Notes. Introducing Fashion 11 Fashion Through the Ages Sketches 12 Chapter 1 Notes. History of Fashion 13 Identifying Target Markets 14 Chapter 2 Notes. Marketing Basics 15

Define the term marketing Explain types of customer characteristics used to define a target market Explain fashion merchandising

Marketing Marketing Concept Target Market Market Segmentation Demographics Psychographics Geographics Behavioristics Fashion Merchandising

Marketing – the process of developing, promoting, and distributing products to satisfy customers’ needs and wants. Marketing starts at the very beginning of the product development and continues after a consumer purchases that product.

To market effectively, fashion marketers follow the principles of the marketing concept. Marketing Concept - the idea that businesses must satisfy customers’ needs and wants in order to make a profit.

Businesses identify the customers, determine the products they want, and make the products available at a price the customers are willing to pay. Businesses must also be able to communicate the information effectively to their customers. In addition, retailers, must consider the location, atmosphere, and image of the store. The products they offer must match style, quality, and price to their customers.

The goal is to accomplish these tasks and make a profit. Fashion businesses must be marketing oriented at all levels of the business by planning all activities around satisfying customer needs and wants.

Target Market – the specific group of people that a business is trying to reach. Businesses identify their target market through market segmentation. Market Segmentation - a way of analyzing a market by categorizing specific characteristics. Marketers divide people into groups of possible consumers based upon shared characteristics. Demographics, Psychographics, Geographic, Behaviorist

Demographics – statistics that describe a population in terms of personal characteristics such as age, gender, income, ethnic background, education, religion, occupation, and lifestyle.

Psychographics – Statistics of consumers based on social and psychological characteristics such as attitudes, interests, and opinions. Consumers’ attitudes and values are often represented by how they choose to spend their time and money. Psychographic trends: women in the workforce, travel, home and family activities.

Geographics – Statistics about where people live. Typical geographic breakdowns could include the region of the country, size of the city or country, the density of the population, or even the climate.

Behaviorists – statistics about consumers based upon their knowledge, attitudes, use, or response to a product. Marketers may look at the: Purchase occasion: when a consumer might use the product. For example, ‘after-five’, casual, work attire. Product benefits: the benefits that the consumer desire in a product. For example, stain-resistance or wrinkle resistance. Usage and level commitment: How often consumers use a product and their loyalty in purchasing it.

The fashion market is too large and too diverse to reach with a single marketing approach. For example: Gap offers merchandise for women, men, and children. Within these groups they also offer dressy or casual wear.

After fashion marketers have identified their target customers and desired products, they must developed plans to have the products available. Fashion Merchandising – the planning, buying, and selling of fashion apparel and accessories to offer the right merchandise blend to meet consumers.

Merchandising is the main function of apparel retailing. Retailers buy large quantities of finished garments and other fashion products at a wholesale price and sell them at retail prices as single items or small quantities of goods.

1. Visit four types of clothing stores websites. Use 1 clothing store that you shop at regularly and 3 other stores that you don’t frequent at all or often. 2. Create the chart below on a LEFT-HAND PAGE like the one below: merchandise? Store #1Store #2Store #3Store #4 Demographic Segment. Psychographic Segment. How do geographics affect the selection of merchandise? Do you think the store’s marketers considered purchase occasion, product benefits, or usage level and commitment in choosing merchandise? Explain.