The document is a marketing assignment submitted by Saha nuaz Sharif that discusses various marketing topics including the job of a fashion analyst, marketing, marketing concepts, marketing promotions, and strategies for creating a clothing brand. It provides details on the responsibilities of a fashion analyst in utilizing digital information to predict trends. It also defines key marketing terms like needs, wants, demands, and discusses the marketing concept of satisfying customer needs. The document proposes objectives and ideas for promotional activities and strategies the student would employ to create and market their own clothing brand called "Fashion Paradise".
Micro-Scholarship, What it is, How can it help me.pdf
Â
Fashion analyst, Marketing Promotions, Make your own brand.
1. Module Name: - Principals of Marketing.
Module Code: - MKT 1201
Submitted To:
Suhal Ahmed
Lecturer, Department of FDT.
Shanto-Mariam University of
Creative Tech.
Submitted By:
Saha nuaz Sharif
Iâd: 183051068
Group: E
Semester: 5th
Batch: 34th
Submission Date: - 15/06/2020
Topics: - Final Assessment.
2. Part A
Fashion analyst:-
The responsibility of a data analyst working in fashion is to utilize all digital
information collected to help retail and fashion companies become more profitable
by predicting trends and consumer behavior.
Marketing:
Marketing is technique to make a trusted relationship with customer for selling
product or service.
Philip Kotler defined marketing as "Satisfying needs and wants through an exchange
processâ. And a decade later defines it as "a social and managerial process by which
individuals and groups obtain what they want and need through creating, offering
and exchanging products of value with others.
American Marketing Association Marketing is defined by the as "the activity, set of
institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and society at large". The
term developed from the original meaning which referred literally to going to market
3. with goods for sale. From a sales process engineering perspective, marketing is "a set
of processes that are interconnected and interdependent with other functions of a
business aimed at achieving customer interest and satisfaction.
Marketing concept: The 'marketing concept' proposes that to complete its
organizational objectives, an organization should anticipate the needs and wants of
potential consumers and satisfy them more effectively than its competitors. This
concept originated from Adam Smith's book The Wealth of Nations but would not
become widely used until nearly 200 years later. Marketing and Marketing Concepts
are directly related. Given the centrality of customer needs, and wants in marketing,
a rich understanding of these concepts is essential.
Needs: Something necessary for people to live a healthy, stable and safe life. When
needs remain unfulfilled, there is a clear adverse outcome: a dysfunction or death.
Needs can be objective and physical, such as the need for food, water, and shelter;
or subjective and psychological, such as the need to belong to a family or social
group and the need for self-esteem. Wants: Something that is desired, wished for or
aspired to. Wants are not essential for basic survival and are often shaped by culture
or peer-groups.
Demands: When needs and wants are backed by the ability to pay, they have the
potential to become economic demands.
Marketing research: conducted for the purpose of new product development or
product improvement, is often concerned with identifying the consumer's unmet
needs. Customer needs are central to market segmentation which is concerned with
dividing markets into distinct groups of buyers on the basis of "distinct needs,
characteristics, or behaviors who might require separate products or marketing
mixes. Needs-based segmentation (also known as benefit segmentation) "places the
customers' desires at the forefront of how a company designs and markets products
or services." Although needs-based segmentation is difficult to do in practice, it has
been proved to be one of the most effective ways to segment a market. In addition,
a great deal of advertising and promotion is designed to show how a given product's
benefits meet the customer's needs, wants or expectations in a unique way.
ï Fashion analyst Job Description:
Fashion analyst use their own knowledge of the fashion industry, research findings,
and analytical skills to predict fashion trends. Retailers, designers, media firms,
advertisers, and other industries consider this information an invaluable tool to help
gauge what will be "in" several years in the future. Fashion forecasters do more than
predict which styles will be in year after year. They use research techniques and
4. fashion industry knowledge to make predictions about colors, forms, patterns,
shapes, and even fabrics. Fashion analyst provide their findings to fashion retailers,
fashion buyers, apparel and textile design firms, designers, advertising agencies,
magazine, and other media entities. Fashion forecasters may work directly with retail
companies, apparel and textile firms or designers. They may also work for consulting
firms, for independent fashion forecasting firms, or independently.
Self-opinion: first off all I want to say without knowing marketing properly a
fashion analyst cannot do his work. Because we know a fashion analyst work, a
fashion analyst is a person he inlays the fashion for the companies to sell the
product. And he has to do lots of research about market. Suppose a fashion analyst
will launch a product before launching the product he has to decide, what is the
market value of this product, who is the buyer, customer buying capacity, market
environment, color, trend, age range, culture, price, religion, and some rules &
regulation and also important how I will represent my product. And this is all
marketing. So without knowing marketing a fashion analyst can do his work but
nobody accept his work I think. If he want to more productive his work he has to
know and maintain marketing, marketing concept and marketing environment.
Part B
5. ï Marketing Promotions
Marketing Promotion is a type of communication between the buyer and the seller.
The seller tries to persuade the buyer to purchase their goods or services through
promotions. It helps in making the people aware of a product, service or a company.
It also helps to improve the public image of a company. This method of marketing
may also create interest in the minds of buyers and can also generate loyal
customers. In one Word we can say âFor increase the sells which steps or activities
are taken by the company is known as Marketing Promotion.â
Objectives of Promotional Marketing
Itâs vital to determine promotional marketing objectives so that we can achieve our
goals. There are various objectives to bring into focus:
Promotion of new products or services. It is possible to introduce new products and
services to the market against existing ones a chance to find a place in the niche.
6. Development of brand image. Brand image is when people associate a brand with a
particular product. For instance, when we think about toothpaste, Blend-a-med and
Colgate come to our mind, when we think about tires, its Pirelli and Bridgestone
when we think about soccer â itâs Manchester United and Real Madrid. This
promotion objective tends to Create or restore the brand image and makes products
more recognizable amongst others in the market.
Informing customers. Marketing promotion is vital for telling people about changes
in products or brandâs policies. It also helps to describe the features and details of
the products. Showing superiority over competitors. Everybody uses promotion
marketing these days, so to be competitive; each brand needs to apply a long-term
promotional strategy. Turning potential buyers into real customers. If promotion
marketing styles like personal selling, advertising and others are used appropriately,
they stimulate demand for the product.
Some Promotional Activities Idea
Personal Selling.
This one-to-one communication with potential customers is the most expensive type
of promotion, but also the most effective when done correctly.
Advertising.
Ads play a crucial role in making brands recognizable. Good advertising with an
accurate, targeted message will reach both existing and potential customers. 3.
Direct marketing.
Performed through social media, email, and SMS marketing, unlike advertising, direct
marketing intends to build relationships with people who have had your brand or
product on their radars before.
Sales promotions.
Promos stimulate purchasing and sales by giving discounts, cash back, free shipping,
gifts, and more.
Public relations.
This promotion style is a chance to build a positive and attractive brand image. With
PR promotions, marketers analyze the way people respond to their brand, find out
the positive and negative associations with their company, and work on the
reconstructing of the brand's image.
7. Email marketing.
With Email marketing, we can invite subscribers to our events, share news and
updates; promote our products and services. Increase both customer retention and
loyalty by sending transactional emails, boost sales with abandoned cart emails and
post-purchase emails, and improve our relationships with triggered emails.
Social media marketing.
We canât ignore such powerful channels as Facebook and Instagram. Users search for
reviews from the brandâs customers, look for high-quality photos of products, and
contact the brandâs representatives to find out more information. Encourage our
clients to leave feedback about our product, launch targeted advertising campaigns,
and create chat bots. They will help us automate answering FAQ and collect orders.
With Send Pulse, we can create a Chabot for Facebook Messenger at no cost.
Content marketing.
It should be a part of a online marketing strategy. People adore high-quality content
which helps them make a choice, answer their questions, offers expert tips. Do not
miss this chance to nurture leads with valuable content.
Influencer marketing.
People donât look for brands they look for emotions they can provide. For this
reason, they trust other people more than the brand itself. We should look for
thought leaders, influencers whose opinion DOES matter for the clients. Using
Instagram tags, we can find bloggers who enjoy using our product, or if weâre a start-
up, offer an influencer to try our product and if they like it, let them be our brand
ambassador.
Referral marketing.
92% of consumers tend to believe their friendsâ recommendations rather than any
advertising campaign. Word-of-mouth is the strongest promotion strategy. To
encourage clients to share a word about your brand, offer a referral program.
Reward them with a discount or bonuses each time a client buys using your referral
link. This way, we will increase sales, customer loyalty, and brand recognition.
8. ï Make your own brand
For making a brand at first I need to know what is brand. Brand is a type of product
manufactured by a particular company under a particular name. Or we can say âA
name, term, design, symbol, or any other feature that identifies one seller's good or
service as distinct from those of other sellers. The legal term for brand is trademark.
So, now I know what is brand and I want to open a brand. I want to manufacture
clothing product. Thatâs why I want to open a clothing brand. For making my brand
at first I have to make a brand name, brand logo, brand slogan, color.
9. Brand Logo:
Brand Name: Fashion Paradise.
Brand Slogan: Fashion with Paradise.
Select a product
10. I made a clothing brand thatâs why my main products are clothing product. But my
core product is T-Shirt.
Because our country is a summer based country though we have six different
seasons but our weather remain hot most of the time of the year. So, in hot weather
T-Shirt is very comfortable and popular to wear. Thatâs why we use 100% cotton
fabric for making our t-shirt. And also we made soft, comfortable and fashionable t-
shirt. We made all kind of t-shirt for all kind of customers, by thinking about their
age, choice, color, style, etc.
Brand Making Process
For making my brand I decided to create a clothing brand. For that at first I made a
brand name which is âFashion Paradiseâ. I select this name because I find that
name is unique, trendy and easy to remember.
Then I select a slogan. We have to understand a slogan is a very important and
crucial part of making a brand because of a slogan represent a brandâs aim, message
and some point quality. When people see or hear a brand slogan instant they make I
idea in their head about that brand, they began to understand what is the aim of
that brand and they understand what the brand want to say, and also they
understand the quality of that brand. Because a good meaningful slogan represents a
brand quality. When people see a good meaningful and thoughtful slogan they
already make a good idea about that brand even they donât use their product. So,
thinking about all this matters I select my brand slogan which is âDressed up as your
dreamâ
I made a logo which is unique and fashionable and creative. A logo can attract people
for buying their product. So I think my unique logo attracted people for buying my
product.
I use Red color for making my logo because I took a survey with young people about
color and I find more than 45% people like Red color. Thatâs why I decided to input
this color in my brand logo.
11. My customersâ can always believe in my brand because-
ï· I always try to maintain the quality of my product so, that my customersâ
always got the finest quality product from my brand.
ï· I give my customersâ after sells service.
ï· I use finest materials for making my product.
ï· My product has a long life cycle.
ï· We always bring new trend etc.
For increasing my sells I use all kind of common marketing policy but also I use some
different types of online marketing strategy which help me find new generation
customersâ
So letâs look at some of the different types of online marketing that are available in
my businesses:
Content marketing
I publishing content in different forms to build brand awareness and nurture
relationships with my customers. Content marketing is usually thought of as a type of
digital marketing but it can also take place offline. Examples of content marketing
include blogs, posts on social media, info graphics, and video.
Search engine optimization
Commonly known as SEO, this is the process of optimizing the content on my
website to make it more visible to search engines and attract more traffic from
searches.
Search engine marketing
Also known as pay-per-click or PPC, with this type of marketing businesses pay to
have a link to their site placed in a prominent position on search engine result pages.
And I use this method in my business.
Social media marketing
I use social networks like Facebook, Instagram, and Twitter to build relationships
with existing customers and reach a wider audience through digital word-of-mouth.
12. Email marketing
Sending regular email communications to users who have signed up to my list to
build relationships and drive sales.
These are just a few examples of the most popular types of digital marketing which I
used for marketing my brand. No business relies on just one form of marketing. On
the other hand, unless youâre a multinational corporation with a practically unlimited
budget and resources, itâs not possible to tackle all different forms of marketing
either to form an effective marketing strategy for my business, Thatâs why I select
the types of marketing that will be most effective for me, and form a plan in which
they are integrated into a master strategy.