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?