In a fashion marketing world, there are many concepts a fashion designer or producer must be well-knowledgeable of. There are concepts such as acquiring and maintaining costumers – the chief thing in marketing; developing the strategy of building relationships with people to increase marketability of the products – gaining more customers, resulting to higher profit; having enough knowledge of the global marketplace – what it is and how it goes; understanding costumer demands and requests, and taking necessary actions to meet those things; taking part or involvement in the global market itself; coping with the social and cultural environment; making good and beneficial advertising and public relations – developing essential and special business marketing communications; and inclining marketing operations and systems with social responsibilities and business ethics. Of course there are more values and principles that need to be inherent in any business, but this paper will only take up some of them. This paper will assess and describe five fashion-marketing-related articles, and relate each article with any of the business aspects mentioned above.
Alexander Wang’s Asian Expansion
Just for a little background, Alexander Wang was raised primarily in the United States though he spent much of his childhood in the city of Shanghai, China. His business (fashion design, not just in clothing but in others as well) was first established in New York and more international stores are in progress now.
The first business marketing concept that is covered in the article is the value of having the business, perhaps the location, fit in with the social and cultural environment. Wang, when being asked regarding the advantage in that market, mentioned that ‘having a background and knowing how to speak the language is definitely an advantage’ (as cited in Foley, 2012, p. 2). In their book ‘International Marketing Strategy’, Doole and Lowe (2008) suggests that cultural differences, especially regarding language, have a significant effect on the use of the product in the market, its brand name and the advertising operations. This signifies that not being of the same language will be a great weak point in the business. In business advertising – in terms of explaining things in a way consumers will thoroughly understand – advertisers will find it hard to promote their products and services because of language indifference. Cultural environment is a necessary concern in establishing a business.
Another concept the article about Wang’s business covers is having partnership with other business stores; the term used in the article is the ‘Shop-in-shops’ concept. This concept simply means a marketing strategy wherein a brand owner or producer makes partnership with another retailer, taking space in its selling operations. This is another concern especially in having international business market; there is a greater possibility of higher profit and broader market in taking part of this shop-in-shop marketing strategy. Bazan explains in the article that though Korea is a good luxury market, many stores there ‘don’t have enough traffic – they don’t make money’ (as cited in Foley, 2012, p.2). What Bazan explained, means that in international marketing, establishing retail partnerships is not a simple thing. A brand owner cannot just simply make partnes with any retail store; there must be assurance that the store has enough customers which will be potential buyers of the product being sold in the retail partner. Retailers and other distribution partners contribute much in promoting the manufacturer’s products (Clark, 2000, p. 49). Thus, retail partnership should be well- established with much assurance that the partnership will eventually lead to higher profit.
Bottega Veneta to Launch China Web Site
As describe in the article, Bottega Veneta is about to launch a Chinese language Web site that will unveil information about its collections and designs ‘exclusively aimed at China’ (Zargani, 2011, p. 1). This section covers two marketing concepts: first, being in accord with the cultural environment; and second, using the online marketing communication strategy. Marketing communication includes Media Advertising, Direct Response and Interactive Advertising (Online Advertising), Place Advertising, Trade- and Consumer- Oriented Promotions, and more. Along with these, online marketing has been termed the promotion component of the marketing mix – the four sets of decisions: product, price, place, and promotion (Shimp, 2008, p. 8). But since today’s online network is considered a larger marketplace for business operations, it is greatly advised that business operations go along with the worldwide culture – having broader connections through the World Wide Web.
The second marketing concept is much related to the first one – the online market. Although there are many disadvantages in online marketing, it offers great advantages including greater availability for the manufacturer to respond to customer inquiries and for the consumers to order products; various ways for promotions are made available in the internet; and more costumers, and other potential customers, will have greater convenience in gaining access to the manufacturer’s product details and other information. The big advantage of the Internet is that ‘it is more interactive and constant towards product information’ (Ozuem, 2004, p. 159).
Louis Vuitton Links with Artist Yayoi Kusama
The business marketing concepts covered in this section are: making strategic alliances with other individual(s) and developing new products for maintaining the product life-cycle. It is said that Marc Jacobs, the artistic director of Louis Vuitton – a luxury goods company – has co-operated with a Japanases artist, Yayoi Kusama on a variety of products, which includes leather products, ready-to-wear goods, accessories, shoes, watches, and jewelry (Socha, 2012, p. 1). Even before, this value of making alliance with others is an asset. ‘Cooperation usually leads to more profitable outcomes than competition’ (Doyle, 2008).
Another concept that is emphasized in the article is development of new products. Because of their co-operation, Kusama was able to have new and developed products; she now has wider variety of designs ranging from collages, soft sculptures, and performance arts, into many luxury goods produced by Vuitton. Likewise, Vuitton has new products through the design concepts of Kusama. In turn, having new products will lead to more marketable goods, which will also get more attraction of consumers. This leads to greater possibility of increased profit. &nnbsp;
PPR Touts Environmental Impact Results
One particular marketing concept discussed in this article is the environmental-friendly or eco-friendly marketing. It is stated in the article that PPR (Pinault-Printemps-Redoute) – a retail-to-luxury firm – has hired additional team of energy, conservation and ecosystem services specialists to help them find ways to reduce greenhouse gas emissions; to help them formulate resolutions to maintain cotton and rubber supplies; and develop standards for obtaining them (Diderich, 2011, p. 1). Concerning their brand Puma, they also established the Puma EP&L (Environmental Policy and Law) to fulfill their social responsibility – taking care of nature. This marketing strategy is also a plus for a manufacturer or a brand because redeeming the nature is being addressed constantly in our society today – everybody is aware of it; for them to also fulfill their social responsibilities, consumers will be more inclined with eco-friendly products than goods that have higher chemical contents. Making eco-friendly products will also lead to higher profit in terms of having the attention of more consumers.
Valentino to Launch Online Museum
It is mentioned in the article that Valentino, together with Giancarlo Giammetti, has arranged their new career as Internet pioneers (Karimzadeh, 2011, p. 1). The business marketing concept this section covers, is somewhat similar with Bottega Veneta – establishing an online market. Specifically, this covers the subject of public relations which falls under the global marketing communications strategy section. ‘Public relations’ is described by Caywood (1997) as ‘relationship building – adjusting organizational behavior to be coherent with the values and expectations of the audience upon which the organization is dependent’ (p. 436). What this statement suggests is that a brand owner or manufacturer should be concerned with how to get the costumers’ attention and interest on its products and services. Every means should be done accordingly to build strong customer relationships, which may also gain attraction of more potential customers. In the case of Valentino – along with Giammetti – what they did provides them greater asset since many people, especially young students, will have greater access to his artwork through the internet. Today, what customers demand is greater convenience and ease in obtaining their wants or needs.
The article also says that the duo (Valentino and Giammetti) also made a global outreach through greater social networks – Facebook, Twitter, and Facebook. It is very important that a business should operate in areas where people will most likely be found; the global marketplace includes online social networks where millions of people are considered potential customers.
The business marketing concepts that are discussed in this paper is the core of every establishment. Without any of them – building customer relationships, getting partnership with other retailers/distributors, understanding the global market, making most of the Internet, adapting with the environment, and fulfilling social responsibilities – a business establishment will find it hard to sustain it operation; perhaps, there is less potential for success.
Buy Fashion Marketing essay paper online
- Carnegie Mellon Business and Computer Science College
- Risk Management
- Business Plan Report
- Internet Risks: E-Commerce, Social Networking, and Identity Theft
- SCRUTINISING A CSR REPORT: BP GLOBAL
- Consumer Trends
- Popular Culture Analysis
- Increasing Marginal Cost
- Marketing Philosophy of Steve Wynn
- The International Business