Fashion Marketing 101 Fashion & Interiors II

Objectives Describe sales technique Describe sales technique Understand intended audience and how audience relates to sales Understand intended audience and how audience relates to sales Use design techniques and previous design knowledge to create and sale your accessories line. Use design techniques and previous design knowledge to create and sale your accessories line.

Marketing Developing, Promoting, selling products, items and or ideas

Sales and Selling Techniques Indirect Selling General promotion to the public like advertising Direct Selling Personal selling is the exchange of merchandise to individual customers in return for money or credit. Responsive Selling Done in response to the customers presence in the store, rather than going to to find customers.

Sales and Selling Techniques Selling Steps 1. Approach and greeting 2. Classifying customers 3. Presentation of merchandise 4. Overcoming objections 5. Closing the sale 6. Supplementary Suggestions 7. Maintaining Relationships.

Selling Steps: Approach and greeting Approach and greeting Greet Customers and begin to build a relationship. Greet Customers and begin to build a relationship. Classifying customers Classifying customers Casual Lookers- browsing or killing time Casual Lookers- browsing or killing time Undecided Customers- Need help and more time spent shopping for a gift or to gain ideas Undecided Customers- Need help and more time spent shopping for a gift or to gain ideas Decided Customers- The know exactly what they want and why. Quick purchases. Decided Customers- The know exactly what they want and why. Quick purchases. Presentation of merchandise Presentation of merchandise Analyze customers needs Analyze customers needs Explain product features Explain product features Show advantages and disadvantages of product. Show advantages and disadvantages of product.

Selling Steps Continued Overcoming objections Overcoming objections Sometimes customers have spoken or unspoken objections- Clarifications and more details may need to be explained. Silent customer are more challenging. Sometimes customers have spoken or unspoken objections- Clarifications and more details may need to be explained. Silent customer are more challenging. Spoken Objections can indicate where you need to go next for Suggestions Spoken Objections can indicate where you need to go next for Suggestions Closing the sale Closing the sale Simply means to get a commitment from a customer to buy a product or merchandise. Simply means to get a commitment from a customer to buy a product or merchandise. Check for clarity, silence at this point for a long period usually means the sale is about to close. Check for clarity, silence at this point for a long period usually means the sale is about to close. Suggestion for the purchase may be made. Suggestion for the purchase may be made.

Selling StepsContinued Supplementary Suggestions Supplementary Suggestions This is where you can increase sales This is where you can increase sales Suggestion for additional services or other stores that your company owns. Suggestion for additional services or other stores that your company owns. You must understand the product and the customers needs. You must understand the product and the customers needs. Add on’s-related merchandise items that create complete outfits Add on’s-related merchandise items that create complete outfits Trading up-Up selling or substituting one item for a more expensive item or newer style. Trading up-Up selling or substituting one item for a more expensive item or newer style.

Selling StepsContinued Maintaining Relationships Maintaining Relationships When the sale is finalized, reassure the customer with an approving statement. When the sale is finalized, reassure the customer with an approving statement. When a customer makes a risky or expensive purchase this is even more important. When a customer makes a risky or expensive purchase this is even more important. Bonding and keeping client records will make for repeat clients and future customers. Bonding and keeping client records will make for repeat clients and future customers.

Audience for Sales Target Market Target Market Specific Segment of a total market that a company wants to direct its product and marketing efforts towards. Specific Segment of a total market that a company wants to direct its product and marketing efforts towards. Marketing Mix Marketing Mix Blend of features that satisfies a choose market. It includes the following, Product, price, place and promotion. Blend of features that satisfies a choose market. It includes the following, Product, price, place and promotion.

Introduction of Accessories project.

Promotion Methods Advertising Advertising Publicity Publicity Visual Displays Visual Displays Special Events Special Events Fashion Publications Fashion Publications Trade Publications Trade Publications

Advertising Appears in newspapers, magazines, or direct mail, radio, television, internet, billboards. Appears in newspapers, magazines, or direct mail, radio, television, internet, billboards. Some companies have an in house advertising department or hire and outside agency. Some companies have an in house advertising department or hire and outside agency.

Advertising-Continue Large Retailers Develop Direct mail or e mail pieces to send to customers. (e.g- coupons, catalogs, and monthly bills) Large Retailers Develop Direct mail or e mail pieces to send to customers. (e.g- coupons, catalogs, and monthly bills)

Publicity Advertising can be costly but publicity is free! Advertising can be costly but publicity is free! PR (Public Relations) Departments can be hired for larger companies. These people distribute information about products, designers collections, and events promoting the designer. PR (Public Relations) Departments can be hired for larger companies. These people distribute information about products, designers collections, and events promoting the designer.

Publicity-Continue So the resulting information or buzz created causes publicity Information might appear in magazines, newspapers, etc. So the resulting information or buzz created causes publicity Information might appear in magazines, newspapers, etc. As a designer- Think about the Publicity Created when your designs are worn on the red carpet!!!!! As a designer- Think about the Publicity Created when your designs are worn on the red carpet!!!!!

Visual Displays Displays for items: Displays for items: Store Windows Store Windows On shelves On shelves Eye Catching designs encourage the sale of fashion clothing and accessories Eye Catching designs encourage the sale of fashion clothing and accessories

Special Events Creating and Event or theme to attract customers to your location. Creating and Event or theme to attract customers to your location. Sales, Christmas in July, Spring in January, Special Pricing. Sales, Christmas in July, Spring in January, Special Pricing. Market Weeks-Promote sales of particular items Market Weeks-Promote sales of particular items

Special Events-Continue Fashion/Runway Shows are another type of special event. Fashion/Runway Shows are another type of special event. This event helps sell designer collections to buyers in the fashion industry. Traveling Trunk Shows- Present Lines to store customers and sales associates Traveling Trunk Shows- Present Lines to store customers and sales associates

Fashion Publications Fashion magazines Fashion magazines Vogue, Glamor, Seventeen, Ebony, GQ (Gentleman's Quarterly) Vogue, Glamor, Seventeen, Ebony, GQ (Gentleman's Quarterly) Show fashion styles, articles, fabrics and promote the latest styles and showcase Designer Interviews. Show fashion styles, articles, fabrics and promote the latest styles and showcase Designer Interviews.

Trade Publications Organizations of Manufactures, designers, retailers, and other people involved in a particular industry.

Trade Publications Examples American Apparel Manufactures Association (AAMA) American Apparel Manufactures Association (AAMA) The Fashion Association (TFA) The Fashion Association (TFA) National Retail Federation National Retail Federation Council of Fashion Designers of America (CFDA) Council of Fashion Designers of America (CFDA) National Association of Men's Sports wear Buyers (NAMSB) National Association of Men's Sports wear Buyers (NAMSB) The Fashion Group The Fashion Group And Many More And Many More

Fashion Industry Segments Primary Market: includes the business that grow and produce the raw materials that become fashion apparel Primary Market: includes the business that grow and produce the raw materials that become fashion apparel Secondary Market: includes businesses that transform the raw materials into fashion in the merchandise production phase Secondary Market: includes businesses that transform the raw materials into fashion in the merchandise production phase Tertiary Market: includes retail businesses Tertiary Market: includes retail businesses

Primary Market Textiles: largest segment of the primary market Textiles: largest segment of the primary market Produces fibers, fabrics, leather, fur, plastic, metal, paper, and any other substance involved in production Produces fibers, fabrics, leather, fur, plastic, metal, paper, and any other substance involved in production

Secondary Markets Manufacturers Manufacturers Wholesalers Wholesalers Contractors Contractors Product Development Teams Product Development Teams

Tertiary Market Retailers Retailers Off-price, specialty stores, department stores, discount stores, variety stores, outlet stores, non store retailers Off-price, specialty stores, department stores, discount stores, variety stores, outlet stores, non store retailers

Support Industries Advertising Agencies, Accounting and Financial services, computer support industries, website design houses Advertising Agencies, Accounting and Financial services, computer support industries, website design houses

Types of Fashion Business Organizations Sole Proprietorship: one owner Sole Proprietorship: one owner Minimum license, complete owner liability Minimum license, complete owner liability Owner owns all assets Owner owns all assets Taxed as personal income Taxed as personal income Most common form of business in small business Most common form of business in small business

Types of Fashion Business Organizations Partnerships Partnerships Based upon an agreement between two parties on how organization will be run, profits/loss split Based upon an agreement between two parties on how organization will be run, profits/loss split Each partner is taxed separately Each partner is taxed separately Each partner liable for debts Each partner liable for debts Ends at the death of one partner Ends at the death of one partner Corporation Corporation

Types of Fashion Business Organizations Corporation Corporation Formed with a charter which is a legal document Formed with a charter which is a legal document Stocks and shareholders Stocks and shareholders Taxed as a separate entity Taxed as a separate entity Limited liability for the owners Limited liability for the owners Corporation exists as a separate entity Corporation exists as a separate entity

Fashion Risks Types of risk: Types of risk: Economic risk Economic risk Human risk Human risk Natural risk Natural risk Pure risk Pure risk

Other Risks Types of risk: Types of risk: Speculative risk Speculative risk Controllable risk Controllable risk Uncontrollable risk Uncontrollable risk Insurable risk Insurable risk Uninsurable risk Uninsurable risk