Chapter 9 Fashion Products and Research Fashion Products

Chapter 9 Fashion Products and Research Fashion Products and Planning Fashion Market Research 1

Fashion Products and Research Chapter Objectives Describe fashion products. Explain trade associations. Explain trade publications and fashion magazines. Discuss aspects of product planning. Describe the methods used to do market research. Explain market segmentation and target market research. Define merchandise information systems. 2

Fashion Products and Research Fashion Products: Goods and Services Goods are tangible items that are made, manufactured, or grown. Apparel Textiles Accessories Services are intangible things that people do, such as tasks performed for customers. Retailers Section 9. 1 Cosmeticians Stylists 3

Fashion Products and Research Fashion Products: Goods and Services People in all segments of the fashion market—primary, secondary, or tertiary markets—offer services. Section 9. 1 4

Fashion Products and Research The Fashion Trade The rag trade has many trade associations. rag trade the slang term for the garment industry A trade association promotes a specific group, sets standards, and provides a means of communication among its members. trade association a nonprofit organization that provides services to specific groups who develop, make, and sell products within an industry Section 9. 1 5

The Fashion Trade Types of Trade Associations American Fiber Manufacturers Association—fiber production American Yarn Spinners Association—yarn production American Textile Manufactures Institute—fabric manufacturing American Association of Textile Chemists and Colorists—fabric finishing Council of Fashion Designers of America—apparel designing American Apparel and Footwear Association—apparel manufacturing and sales National Retail Federation—retail activities The Fashion Group International, Inc. —all segments of the fashion industry Section 9. 1 6

Fashion Products and Research The Fashion Trade A fashion trade publication is a type of fashion product, though they are not always sold commercially. trade publication a magazine, book, or journal offering a variety of information to a certain industry or a segment of an industry Women’s Wear Daily is the major American fashion trade publication. Section 9. 1 7

Fashion Products and Research The Fashion Trade A fashion magazine is a type of fashion product that is sold commercially. fashion magazine a consumer magazine sold commercially, featuring articles, illustrations, and advertisements with an international emphasis The public gets most fashion news from fashion magazines. Section 9. 1 8

Fashion Products and Research The Fashion Trade Examples of popular fashion magazines are: Vogue Marie Claire Glamour Cosmopolitan In. Style Section 9. 1 GQ Teen Vogue Teen Glamour Seventeen 9

Fashion Products and Research Fashion Product Planning Product planning includes doing market research as well as making decisions about which products to include in a product mix and product assortments. Section 9. 1 10

Fashion Products and Research Fashion Product Planning The product planning process includes developing a product mix and product assortment that will satisfy the needs and wants of the market. product mix the total selection of goods and services that a company makes or sells product assortment the range of items or merchandise within categories that a company sells Section 9. 1 11

Fashion Products and Research Fashion Product Planning The number of different items offered within a classification of products is called assortment breadth. A product assortment has depth if it consists of a large quantity of the goods offered. Section 9. 1 12

Fashion Product Planning Product Development Market and Trend Research Economic, Global, and Technological Influences Cultural and Artistic Resources Company Goals Color Merchandising: Plan, Budget, Line, Size Fabric Design: Idea/Sketch Sample Pattern Sewing/Fitting Sample Garment Line Selection Section 9. 1 13

Fashion Products and Research Understanding Products and Planning The fashion industry stays current through trade associations and trade publications. Consumers use fashion magazines to stay informed. Fashion businesses must carefully plan their selection of goods and services to suit customers. Section 9. 1 14

Fashion Products and Research One-Stop Shopping What is a fashion product? For on an electronic channel—the Operating an e-tail business retailers, how their fashion products are classified is important when a consumer wants to Web—can be costly, due to design, delivery, returns, and operating expenses. locate their store’s phone number or address in the phone book. For online retailers, a product’s classification is even Though Many larger customers. more crucial for getting dot-com companies crashed in the 1990’s, small stores like Harris Cyclery of West Newton, Massachusetts, actually e-tail databases send basic Web Online search engines and increase sales using a consumers site. Today, a third of kinds of products being rides in on to e-tailers based on the. Harris’s bicycle businesssearched. the Web to get hard-to-find parts and personal service. Amazon, the online book and media retailer, distributes everything frome-business’s home page to your class after Describe an cookware to fashion apparel. viewing one through marketingseries. glencoe. com. For more information, go to marketingseries. glencoe. com. Section 9. 1 15

Fashion Products and Research 9. 1 1. What are the two types of fashion products? 2. What trade association represents all segments of the fashion industry? 3. What are the two characteristics of assortment? Section 9. 1 16

Fashion Products and Research Market Research and Fashion Market research is an essential part of the product planning process in the fashion industry. Section 9. 2 market research the systematic gathering, recording, analyzing, and presentation of information related to marketing goods and services 17

Fashion Products and Research Market Research and Fashion Market analysts are specialists who gather marketing information, analyze data, compile reports, and assist all segments of the fashion industry by providing information. Section 9. 2 18

Fashion Products and Research Gathering Marketing Information The methods of gathering marketing information are: The survey method The observation method survey method a research method that involves gathering information from people through surveys or questionnaires observation method a research method that involves watching people and recording consumer behavior by cameras or individuals Section 9. 2 19

Fashion Products and Research Gathering Marketing Information The methods of gathering marketing information are: The experimental method The focus-group method experimental method a research method whereby a researcher observes the results of changing one or more marketing variables while keeping other variables constant focus group a panel of six to ten consumers who discuss opinions about a topic under the guidance of a moderator Section 9. 2 20

Fashion Products and Research Market Segmentation Market segmentation is a way of dividing the total market into smaller groups and analyzing each group by specific characteristics. Section 9. 2 21

Market Segmentation Target Market Demographics Maximize Sales Age Research Gender Income Section 9. 2 Analyze Improve Communication and Services 22

Fashion Products and Research Merchandise Information Systems The set of procedures for collecting, storing, and analyzing research data is called a merchandise information system a system that produces, stores, and analyzes information that enables fashion marketers to make decisions about merchandise for sale Researchers must collect data on a continual basis. Section 9. 2 23

Merchandise Information Systems Sales records and supplier data Customer profile data Competitors’ records Government data Merchandise Information System Section 9. 2 24

Fashion Products and Research Market Research and New Products Businesses must respond to market research on a timely basis so that the research will be more productive. The information can help solve problems and make business decisions. Section 9. 2 25

Fashion Products and Research 9. 2 1. What is market research? 2. What are four methods used to collect data in a merchandise information system? 3. How does market research influence new products? Section 9. 2 26

Fashion Products and Research Checking Concepts 1. Name two fashion products, including goods and services. 2. Describe the services provided by trade associations. 3. Identify the difference between trade and fashion publications. continued 3. Trade associations 2. Tradepublications 1. fashion apparel and are magazines, promote specific hairstyling service newspapers, books, or industry groups, set journals that offer standards, to a and information provide a means of certain industry. communication Fashion magazines among members. are consumer magazinesactive in They are sold commercially, the legislative featuring articles, process as well. illustrations, and advertisements. 27

Fashion Products and Research Checking Concepts 4. Explain two tasks involved in product planning. 5. Identify the market research method that involves a group of possible customers. continued 5. focus group 4. Product planning involves doing market research and making decisions about which products to include in a product mix or assortment. 28

Fashion Products and Research Checking Concepts 6. Name one source of demographic information. 7. List the kind of data obtained by merchandise information systems. continued 7. Types of 6. One source of information include demographic sales records information is and supplier data, government competitor’s statistics. records, customer profile data, government data such as price trends and projections. 29

Fashion Products and Research Checking Concepts Critical Thinking 8. Explain the importance of doing fashion market research. 8. Possible answer may note that market research is especially important in the fashion industry for planning new products and finding out what products consumers want. Consumer tastes and trends change quickly, and companies and designers need to know what styles will sell. 30