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2013 Fashion Promotion - Essay Example

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2013 Fashion Promotion

With shifting demographics, and augmentation of the internet, the fashion industry is progressively becoming a global and multifaceted business. This characterizes a significant difference in the cultural, social and economic perception of the participant. The result of these differences in magnitude, occurrence and viewpoint is that fashion marketing is dissimilar at the local level, let alone at the global one. This means that for every new player, there is an immediate need not only to look at the existent players and how they have succeeded but also to meticulously plan, and execute market oriented strategies that allow for growth through satisfied customers. In this study, we look at a means to launch a new fashion brand, Release, to the market and raise its profile such that it is in a position to gain at least 5% market share of the high-end fashion segment. The brand, Release, has every intention to rival well positioned brands in the fashion industry such as ZARA, HM and TopShop. Obviously, this is not a mean challenge as these are well established brands which have largely cut a niche in the fashion market. At the moment, a brand such as ZARA is the biggest fashion retailer in the world, eating into its UK market share will require meticulous planning and exquisite brand positioning. One that puts into consideration the cultural diversity, demographics, and the choices and priorities of the brands focus group. Release has made a deliberate effort to define its customers not on basis of products but on class, with the focus group being the high end clientele who are often in the middle or upper middle bracket. The idea is to provide everything this class of customers requires in terms of fashion under one roof, availing them a chance to shop for the entire family with complete ease (Ramesh, 2007.p.372). Besides, Release also seeks to focus on a particular generation, Generation Y, which encompasses individuals born 1976-2000; this is largely the group that makes up the frequent shoppers and persons within the targeted earning group. The premium fashion brands segment has arguably witnessed the greatest changes in the consumer market. The segment also faces aggressive competition from the higher-priced luxury and prestige brands and the lower priced mass fashion brands (Luxuryy, .p.242). High end consumers desire innovative and inspiring luxury products to enable them to feel dynamic and alive. They view high-end products as not necessarily the most expensive or the most lavish products, but the best that suits each individual and their outlook of life. Modern day high end consumers’ use expensive products and services as sentimental and expressive tools. Thence a high-end brand needs to offer an appropriate balance between the need levels of tangible and intangible benefits. The Release Brand Every time one, mentions about a “brand” in marketing the very first images are the names, sign or design of a particular product that is synonymous with a certain firm (OaShaughnessy, 2000.p.386). Initially, a brand is just a name but over time it comes to acquire definite associations or sense meaning. What the brand symbolizes is part of this sense meaning. A symbol is a sign that not only represents something but connotes some value. Whereas the brand image is the impression created by the brand in the minds of consumers, what the brand stands for, what it exemplifies. Gut reactions to symbols like brand-names can be viewed as identification reactions since reactions, such as favoring or not favoring buying, take place on identification without further investigation (Hackley, 2010.p.21). A brand’s image as a collection of qualities, properties, attributes, ...Show more

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The fashion industry has enormous variation in the size and structure of businesses serving the needs of customers. From a small retailing establishment to enormous fashion businesses such as Liz Claiborne or ZARA…
Author : kennithking
2013 Fashion Promotion essay example
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