marketing apparel products apparel development 2 objective 4.01
TRANSCRIPT
Marketing Apparel Products
Apparel Development 2Objective 4.01
What is “marketing”?
Using a variety of methods to persuade customers to purchase products and services.
Marketing Strategy
Mapping out all aspects of a business planWhat direction you are goingHow you plan to get thereWhat assets will you need
Marketing Objectives
***The goals of marketing plan
How much will we sellTo whomAt what price
Market Segmentation
Groups of buyers with similar needs and interestsBased on: DemographicsGeographics, andPsychographics
Target Marketing
This is the specific market segment on which you are going to concentrate your efforts.
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.
The “6 P’s”
Product
Place (distribution)Price
Promotion (advertising/packaging)People (customers)Position (in the market place)
Product
Choosing what products to make and sellChoosing what services to offer
Distribution
The means of getting the product into the consumer’s hands.
Distribution Channel
Process of getting merchandise to the proper location.
Indirect Distribution
Product delivered through wholesalers
Manufacturer -> wholesaler-> retail location
Direct Distribution
Product to customer; no one in between
you make a purse- you sell it to your customers
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
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
Price
Price strategies should reflect what customers are willing and able to pay.Take into account prices the competition charges.
Promotion
Refers to decisions about advertising, personal selling, sales promotion, publicity and packaging.
Packaging
The physical container or wrapper that holds the product ***
Label
The part of the product’s package used to present information
Market Share
% of the market that your product holds versus the % of all the competitors
Based on total sales
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?