1. Marketing Apparel Products Apparel Development 2 Objective 4.01

2. What is “marketing”? Using a variety of methods to persuade customers to purchase products and services.

3. Marketing Strategy Mapping out all aspects of a business plan What direction you are going How you plan to get there What assets will you need

4. Marketing Objectives ***The goals of marketing plan How much will we sell To whom At what price

5. Market Segmentation Groups of buyers with similar needs and interests Based on: Demographics Geographics, and Psychographics

6. Target Marketing This is the specific market segment on which you are going to concentrate your efforts.

7. Target Market A group identified for a specific marketing program. When a business does not identify a target market, its marketing plan has no focus.

8. The “6 P’s” Product Place (distribution) Price Promotion (advertising/packag ing) People (customers) Position (in the market place)

9. Product Choosing what products to make and sell Choosing what services to offer

10. Distribution The means of getting the product into the consumer’s hands.

11. Distribution Channel Process of getting merchandise to the proper location.

12. Indirect Distribution Product delivered through wholesalers Manufacturer -> wholesaler-> retail location

13. Direct Distribution Product to customer; no one in between you make a purse- you sell it to your customers

14. Ways of Distribution Retail store**- most of the space is used for selling Department store-many different types of products men's, children's, electronics, make-up; Target, Sears Boutique- specializes in a type of product Warehouse- no frills, low prices

15. Ways of Distribution cont. Mail Order - low over head (no retail space) high profit *Catalog- print promotion; 800#; delivery to person *Internet-secure connections only-pay pal protects both buyer and seller

16. Price Price strategies should reflect what customers are willing and able to pay. Take into account prices the competition charges.

17. Promotion Refers to decisions about advertising, personal selling, sales promotion, publicity and packaging.

18. Packaging The physical container or wrapper that holds the product ***

19. Label The part of the product’s package used to present information

20. Market Share % of the market that your product holds versus the % of all the competitors Based on total sales

21. Market Share If 100,000 purses are sold every year in Statesville, and your business sold 25,000 of those, what % of the market share do you have?