The Importance Of A Qualitative Analysis Of Comparative Market Data For Your Business Essay

This report have help us realized that in today’s world, Fashion has been a very huge influence on us. In the fashion industry, Bardot is still like a new baby compared to other competitors. It has some good advantages but overall, Bardot has a lot to improve on at the same

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.

The condition of Australian fashion retailers have been under-serviced and underwhelmed when it comes to fashion choice, especially in affordable variety (Wells 2013). There are only numerous fashion labels are available to dress 23 million people. In addition, the price cannot be compared to international brands’; the volumes produced by big international retailers like Zara and H&M are to service global market, unlike Sportsgirl or Country Road who produce much smaller volumes.

The fashion industry is rapidly growing and constantly generating new fashion trends almost weekly. Fashion for some may seem ridiculous and unnecessary; but fashion is not just a meaningless usage of article of clothing or farcical materials sew together for coverage. There is more to fashion than meets the eyes, fashion is precious and significant. It is a reflection of self-image, it speak the ream about who we are and how we review ourselves. Not only is fashion the reflection of self-image but also the reflection of our history as Coco Channel have said, “Fashion is not something that exist in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live, what is happening.” Fashion

While I am focused on success, I am also commercially aware of the present climate within the fashion industry. According to research from the Hong Kong Institute of Fashion Buying, China’s consumers of luxury and high fashion are between 20 and 50 years old. Due to the implicit and abstract nature of the traditional culture, there are basically no fashion marketing and management. Thus, there is an increasing need for professional fashion mangers.

There is no doubt that the Fashion Institute of Technology stands out and has so much to offer to an aspiring fashion merchandise manager. Courses such as: Advertising and promotion, the fundamentals of textiles, and product development will provide me with the knowledge base to not only run a successful business, but to be an innovative leader in the industry. FIT is notable for their exceptional faculty who are experts with real- world experiences. From its many internship possibilities to field trips, FIT’S location in the center of New York City is ideal for this industry. In addition, attending classes with students who are also fascinated in Fashion Business Management, would motivate my creativity and enrich my education. The Merchandising

2.2 Local Capabilities Australia is a competitive market. The strength and success of local brands and designers have been well able to compete successfully against high-profile imported and designer goods. Internationally, Australia is best known for its beachwear, bushwear (e.g. outback, outdoor clothing), urbanwear and high fashion. Currently there are over 5,000 fashion labels in Australia6 7 and more than 2,000 companies export fashion. 2.3 International Competition China dominates the Australian import market due to its low cost. This has increased the pressure on local firms to compete on price. This has resulted not only in a contraction of the domestic industry but also in a new focus on specialization and innovation. The international fashion and apparel industry presence in Australia is noticeably less than other western markets, such as Canada or Japan. For example, large international firms such as H&M, Zara, Top Shop or The Gap do not have stores in Australia. However, as economies begin to recover from the global financial crisis, The Gap, Abercrombie & Fitch, and Zara have expressed interest in the Australian marketplace. 2.4 Canadian Position Canadian fashion and apparel is regarded as having innovative design and quality. However, few designers and brands are well known in the Australian market.

The company Forte Fashion is looking for attracting young customers with modern apparel designs. In order to achieve this target, the company must recognise the essentiality of product development, address the production challenges, build a strong brand identity and support it with a well-structured plan for marketing and communication. It must take into account the interest of all its shareholders and achieve sustainability through a proper application of technologies like augmented and virtual reality. The company must also focus on its corporate social responsibility while planning its organisational

Similar to another one of my sources, this book also gives illustrations as well as information on fashion styles, well known fashion events and movements, as well as notable designers of the 20th and 21st centuries. It also gives us a perception of the social influences of fashion. Along with that, it brings about the commercial side of the fashion industry, but my focus on that will be about how certain brands came to be. It provides information about how certain fashion trends went from the catwalk, to the sidewalk. This ties down and goes back to the idea about how fashion trends evolved or become a movement.

With an increase in popularity of online shopping, it’s become so much faster to get what you want and when you want it. Behind the scenes, brands and retailers are even resorting to exploiting already underpaid works to make supply in order to keep up with the consumers’ demands; this is the fundamentals of fast fashion. Fast fashion is a term used to describe cheap and affordable clothes, which results from catwalk designs moving into stores as quickly as possible in order to respond

‘Fashion industry is characterised by short product life cycles, volatile and unpredictable demand, tremendous product variety, long and inflexible supply processes and a complex supply chain.’

Access a range of both internal and external data relevant to the business you have chosen and to assist you in identifying market trends and development such as changes in technology, demographic trends, economic trends, government activities environmental trends, social and cultural factors and any other relevant trends and developments. The data you access can come from a range of internal and external sources and may include graphs, charts or spreadsheets or any other relevant information.

Fashion is being an enjoyable and admirable aspect among people which is also personifies their freedom therefore allow them to be confident, relax and feel comfortable for who they are. Fashion promotes a culture that is based on appearance. The fashion industries too encourages the consumers to associate fashion consumption with pleasure,power & personal

How often do you purchase new clothes for yourself? How much do you willing to pay for it? In recent year, the business model of Fashion & garment industry was changed to “Fast Fashion”, consumers are looking for high quality design clothing at lower prices. Therefore, more and more fashion brands understood customer needs then produce chic and aesthetic product with inexperience pricing. Most of the brands also concerns that the product lifecycle in fashion area is short, especially seasonal cloths with maximum three months only. Nowadays, “fast fashion” brand business growing is yearly increasing as well as the brand awareness.

This work is an introduction to the fashion industry of Pakistan which has made quite a lot of progress in just a few years. Ten to fifteen years from now, this industry was still unknown to actually exist to the masses. Later with the formation of fashion councils and education centers under the enthusiastic few who wanted to make a difference and promulgate this very institution of fashion, did the very fashion industry took its concrete contour from the old tailor culture that formerly existed. Today it is one of the most progressing industries in the country.