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Chapter 2 Name:__________________________________ Marketing – Behavioristics – Marketing Concept – Fashion Merchandising – Target Market – Marketing Mix – Market Segmentation – Channels of Distribution – Demographics – Functions of Marketing – 1 Chapter 2 Name:__________________________________ Chapter 2 – Fashion and Marketing Case Study Page 25 1. With a partner, why did Gap’s expansion result in losses? List two reasons. 2. How important is understanding the needs and wants of the consumer for fashion businesses? Discuss your answer in one paragraph. Case Study Page 35 1. With a partner, write two sentences about how Gap has tried to find a balance between giving customers what they want and introducing new products. 2. What is the importance of having a marketing strategy for fashion businesses? Write a paragraph to explain your answer. Hot Property Page 28 1. Who is the target market for Ahimsa Peace Silk Products? 2. Is the organization targeting the right market for their products? Why? 2 Chapter 2 Name:__________________________________ 2.1 Fashion Marketing Basics Goals: To define the term marketing To explain types of customer characteristics used to define a target market To explain fashion merchandising How Fashion is Marketed __________________ is one of the most important aspects of any business. Marketing starts at the very beginning of the product development and continues after a consumer purchases that product. The Marketing Concept To market effectively, fashion marketers follow the principles of the marketing concept. Businesses identify the __________________, __________________ the products they __________________, and make the __________________ available at __________________ the customers are willing to pay. Businesses must also be able to __________________ this information effectively to their customers. Fashion marketers must offer the right __________________ to their customers at the __________________ time and at the __________________ price. In addition, they must develop __________________ to tell their selected market about these products. In addition, retailers or store owners must consider the __________________, __________________ and the __________________ of the store. The products they offer must match __________________, __________________ and __________________ to their customers. The goal is to accomplish these tasks and make a __________________. Fashion businesses must be __________________ oriented at all levels of the business by planning all activities around satisfying customer __________________ and __________________. Target Market 1. 3 Chapter 2 Name:__________________________________ 2. 3. 4. Diverse and Changing Markets A mistake that some fashion marketers make is to take a market for __________________. Changes in __________________ or __________________ conditions can affect the consumer’s choices. Businesses must know about __________________ that offer new products and develop __________________ that affect their diverse customer bases. Businesses constantly evaluate __________________ and __________________ due to the changing __________________ influences. 4 Chapter 2 Name:__________________________________ Identify three cultures or countries that have influenced current styles and describe the styles. 1. 2. 3. Fashion Merchandising After fashion marketers have identified their __________________ customers and desired __________________, they must develop plans to have the products available. Retailers and Fashion Merchandising Merchandising and Market Factors 2.2 Marketing Strategies Goals: To describe the four components of the marketing mix To identify the four types of promotion To identify the seven functions of marketing The 4P’s 1. 2. 5 Chapter 2 Name:__________________________________ 3. 4. Sales Promotion Public Relations and Publicity Advertising Personal Selling Applying the Promotional Mix Marketing Strategies 6 Chapter 2 Name:__________________________________ 1. 2. 3. Channels of Distribution A __________________ channel of distribution is a path of distribution in which products are sold by the producer directory to the customer. An __________________ channel of distribution is a path of distribution of products that involves one or more steps, or intermediaries. Fashion and Distribution 1. 2 3. The Functions of Marketing 1. 2. 7 Chapter 2 Name:__________________________________ 3. 4. 5. 6. 7. Marketing the Fashion Product 8 Chapter 2 Name:__________________________________ 2.1 Fashion Marketing Basics Page 30 1. What is a target market? 2. What customer characteristics are used to segment markets? 3. What is fashion merchandising? 1.2 Marketing Strategies Page 38 1. What are the four P’s of marketing? 2. What three marketing strategies are used to increase retail business? 3. What are the seven functions of marketing? 9 Chapter 2 Name:__________________________________ Portfolio Works The Best Promotion Read the two case studies on page 41, and then decide on the best marketing strategy for each store. Name the strategy, and then suggest a marketing promotion that might be used. Case 1: Josh opened an athletic shoe store in 2000. Recently sales have been dropping. To make money, Josh needs to sell at least 45 pairs of shoes daily. What is the best marketing strategy for Josh? Case 2: Adrien is an assistant marketing manager for a new clothing store in the mall. The store’s target market is young people between the ages of 15 to 25. His supervisor has asked Adrien to come up with a way to increase sales. 10