8/8/2019 2 Intro to Marketing Strategy 810 NO.1

http://slidepdf.com/reader/full/2-intro-to-marketing-strategy-810-no1 1/4

Intro to Fashion Marketing Intro to Fashion Marketing

world of marketing is just as dynamic as the world of fashion

Intro to Fashion Marketing

world of marketing is just as Creative as the world of fashion

Fashion marketing

At the core, the profession is aboutconnecting with the image--the lifestyle--theconsumer wants.

fashion marketing is a interesting and funprofession.

It integrates the artistic nature of fashion withthe creative aspects of business--making fora highly rewarding career to the ambitiousand innovative.

The process throughwhich

VALUE

is exchanged

Marketing is…

8/8/2019 2 Intro to Marketing Strategy 810 NO.1

http://slidepdf.com/reader/full/2-intro-to-marketing-strategy-810-no1 2/4

The official definition

Marketing is an organizational function

anda set of processes

for creating, communicating, and deliveringvalue to customers

andfor managing customer relationships

in ways that benefitthe organization and its stakeholders

American Marketing Association Definition

1. Monetary costsAcquisition Cost

Usage CostMaintenance CostDisposal Cost

2. Time costsAcquisition

Usage CostMaintenance CostDisposal Cost

3. Energy Cost

1. Product benefits•Performance

•Durability

•Reliability

•Ease of use

2. Service benefits

•On time delivery

•Responsiveness to problems

•Technical support quality•Availability of support

3. Image benefits

Psychological needsPersonality enhancement

reinforcement

Value CreationPerceived Benefits Perceived Costs

Total customerbenefit

Total customercost

Total CustomerVALUE

The Marketing Nutshell

Design

Analysis

Decision

CompanyCompetitorCustomer

Segmentation Targeting Positioning

Product, Price, Place, Promotion

“Integrated Marketing”

Marketing Strategies

consist of

selecting a target market

and

developing a marketing mix

to

satisfy that market’s needs.

Successful Marketing

Identify market opportunities

and respond by

developing and executing

marketing strategies to

take advantage of the opportunities

better than the competitors.

8/8/2019 2 Intro to Marketing Strategy 810 NO.1

http://slidepdf.com/reader/full/2-intro-to-marketing-strategy-810-no1 3/4

The Marketing MixFour marketing activities

Product

Place

Promotion

Pricing

TargetMarket

Analyze

Decide

Implement

Marketing Process

Conduct A Marketing Review

(3-C Analysis)

Opportunity Identification

Assessment ofCOMPANY

Capabilities andCurrent Marketing

Position

Analysis ofCUSTOMER

Trends, NeedsPerceptions,

Behavior

Analysis ofCOMPETITORSCurrent Position,

Capabilities,Actions

A market orientation

consists of creating norms and valuesthat encourage customer-oriented

behavior throughout the organization,

including:

GeneratingMarket

Intelligence

DisseminatingMarket

Intelligence

Responding toMarket

Intelligence

The Marketing Concept

The idea that the

social and economic justification

for an organization’s existence

is the satisfaction of

customer wants and needs

while

meeting organizational objectives.

The Marketing Concept

Consumer-Oriented

Long-runProfitability

Cross-Functional

Effort

MarketingConcept

8/8/2019 2 Intro to Marketing Strategy 810 NO.1

http://slidepdf.com/reader/full/2-intro-to-marketing-strategy-810-no1 4/4

Strategic Marketing ?Is Integrated approach to Marketing

Marketing is an activity engaged in pursuing

value innovation by looking systematicallyacross all elements of a business model.

MarketingCustomer

Marketing

Customerneeds &wants

R&D Procurement P roduction Distribution Sells

Customervalue

A Need

Needs - state offelt deprivationincludingphysical, social,and individualneeds.

A Want

Wants - form that ahuman need takes,

as shaped by culture

and individualpersonality.

This Is Demand

Demand

Wants Buying Power

+ =

Customer manifesto

 – Do not offer me things

 – Do not offer me clothes, offer me attractive looks

 – Do not offer me shoes, Offer me comfort for my feetand the pleasure of walking

 – Do not offer me a house, offer me security, comfort,and a place that is clean and happy

 – Do not offer me books, Offer me hours of pleasureand the benefit of knowledge

 – Do not offer me things, Offer me ideas, emotions,ambience, feelings, benefits and experience

 – Please, do not offer me things

Argument

andDiscussion

Throws Heat

Throws light

Stems from Ego and closed mind

Open mind

Exchange of Ignorance

Exchange of Knowledge

Expression of temper

Expression of Logic

Tries to prove who is right

Tries to prove What is Right