Fashion Products and Planning

1. Fashion Products and Planning

2. Objectives • What are fashion products? • What are trade associations? • What are trade publications and fashion magazines? • What are the aspects of product planning?

3. Why Important? To understand and market fashion, it is important to know what and how fashion products are planned.

4. What are fashion products? Fashion products include goods that are produced and services that are performed. The fashion industry is comprised of many businesses that create fashion products.

5. Fashion Products • Fashion goods – (goods) are tangible items that are made, manufactured, or grown. • Includes apparel, textiles, accessories, and other fashion products, from cosmetics and perfumes to furniture and cell phones. • Ex. The goods made by manufacturers include the textiles created from raw materials, the fabrics to make garments, and the finished garments sold in retail stores.

6. Fashion Products • Fashion Services – (services) are intangible things that people do, such as tasks performed for customers. • Fashion services are provided by producers, retailers, cosmeticians, stylists, and other individuals who bring fashion to consumers.

7. Variety of Services People in all segments of the fashion market – primary, secondary, or tertiary markets offer services. Examples: 1. Marketing specialists in each segment can provide current information concerning market trends and new products.

8. Variety of Services Examples cont: 2. People involved in sales and service target fashion products on the right buyers. 3. Sales associates in the design segment provide information to production people. 4. The production sales staff works with retail buyers who stock the right goods in their stores.

9. Other Services • Fashion show production such as fashion week presentations and advertising assistance. • Retail services might include providing credit, personal shopping, and gift wrapping services. All segments of the fashion industry offer some form of service to attract and keep customers.

10. The Fashion Trade A dominant segment of the fashion industry, the garment industry is sometimes called Rag trade – a slang term meaning the “the garment industry.” • The rag trade has its own trade associations.

11. What are trade associations? Trade association – a nonprofit organization that provides services to specific groups who develop, make, and sell products within an industry. • Sets standards and provides a means of communication among its members. • EX. – the American Apparel and Footwear Association (AAFA) stays informed about current legislation relating to imports and exports, focusing on taxes, labor, and environmental issues.

12. Types of Trade Associations • American Fiber Manufacturers Association – fiber production • American Yarn Spinners Association – yarn production • American Textile Manufacturers Institute – fabric manufacturing • American Association of Textile Chemists and Colorists – fabric finishing • Council of Fashion Designers of America – apparel designing • American Apparel and Footwear Association – apparel manufacturing and sales • National Retail Federation – retail activities

13. The Fashion Group • Fashion Group International, Inc. – is a trade association representing all segments of the fashion industry. • Membership consists of women and men who are successful in the fashion business. • Members work as fashion designers, magazine editors, retail executives, and other fashion professionals.

14. The Fashion Group (cont.) • The group provides a forum for its members to share information and resources about career opportunities and ideas concerning the fashion industry. • Headquarters located in New York City. • Los Angeles and Chicago have regional chapters. • Fashion Group chapters are located in key fashion cities around the world.

15. What is the goal of all trade associations? To help members succeed by improving their segment of the fashion industry.

16. Trade Publications Trade publication – a magazine, newspaper, book, or journal offering a variety of information to a certain industry or segment of an industry. • Also types of fashion products, though they are NOT always sold commercially. • Provide companies with information they can use to develop new products. • Focus on trends and report on new developments in the textile, apparel-production, and retail industries.

17. Women’s Wear Daily • Major American fashion trade publication • Published five days a week; each day dedicated to different features concerning fashion trends, designs, and manufacturing information. • Lists schedules for fashion events such as designer and fashion week shows. • Reports important business and financial news regarding the women’s apparel trade.

18. Fashion Magazines Individuals in the fashion industry read trade publications for current information on fashion products, but the public gets most fashion news from magazines, which are also fashion products. Fashion magazine – a consumer magazine sold commercially, featuring articles, illustrations, and advertisements with an international emphasis.

19. Fashion Product Planning and Product Mix The planning process includes developing a product mix and product assortment that will satisfy the needs and wants of the market. • Product mix – the total selection of goods and services that a company makes or sells. • Manufacturers offer different lines of products and services.

20. Product Assortments • Product assortment – the range of items or merchandise within categories that a company sells. • Assortment breadth – number of different items offered within a classification of products. • Assortment depth – consists of a large quantity of the goods offered.

21. Pop Quiz! Which are two examples of fashion goods? A) textiles and apparel B) accessories and tailoring C) manufacturing and home furnishings D) design and manufacturing

22. Which are two examples of fashion services? A) marketing and coats B) hairstyling and tailoring C) home furnishings and distribution D) manufacturing and buttons

23. Rag trade refers to _____. A) the distribution of leftover materials B) a publication designed for a certain industry C) slang for Women's Wear Daily D) the garment industry

24. The Council of Fashion Designers of America is an example of a _____. A) government council B) trade association C) trade publication D) market research firm

25. What is the audience for a fashion publication? A) people working in a specific industry B) young teens C) the general public D) students of fashion design

26. What is the main American fashion trade publication? A) Vogue B) Lucire C) Women's Wear Daily D) GQ (Gentlemen's Quarterly)