Analysis of the Fashion Industry

Decent Essays
Fashion is one of the world’s most important creative industries. It has provided economic thought with a canonical example in theorizing about consumption and conformity. Social thinkers have long treated fashion as a window upon social class and social change. Cultural theorists have focused on fashion to reflect on symbolic meaning and social ideals. Fashion has also been seen to embody representative characteristics of modernity, and even of culture itself. Everyone wears clothing and inevitably participates in fashion to some degree. However, it would be an understatement to say that fashion influences just clothing; in fact, to be very precise fashion influences almost every aspect of our daily life. More often than not, Fashion…show more content…
This marketing strategy and the related plan is composed of different tasks relative to the elements of promotions, advertising, retailing, branding, affiliate marketing, and distribution.
In order to be successful fashion marketers have to be future oriented with forecast information about the market. The fashion industry demands that in order to have an effective fashion marketing strategy, companies need to understand and identify their customers, the trends in the fashion industry as well as how the branding and the marketing of their products effects the purchase behavior of the consumers. This knowledge is the main resource available to fashion marketers to develop a marketing strategy for their fashion based products . Marketing in the fashion industry is often difficult as the industry is very volatile with constant changes taking place in its external as well as internal environments. As a result the approaches taken towards fashion marketing have to be adjusted and revamped in order to effectively target the latest and future trends.
A myriad of factors define the fashion retail market, namely the interactions among fashion companies and the interaction between fashion companies and the consumer. The retailers seem to have the most power in defining the market as they possess the power to
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