University:
Winston-Salem Forsyth County Schools
Course:
AP Microeconomics
Academic year:

2015
Views:

332

Pages:

23
Author:

Sean Cline

UNIT F FASHION PROMOTION 6.01 Identify the components of the promotional mix. 1 Introductory Assignment • Read Chapter 21 in green Fashion Merchandising book, page 379. • Define the To Know terms on page 396. • Answer the 20 Review questions on page 396. • On a separate piece of white paper, draw the Promotion Through the Fashion Cycle as seen on page 379. 2 Promotion: The communication with customers about products and services to create demand and encourage purchases. 3 Promotion may be done locally, regionally, nationally, or internationally. The goal of promotion is to communicate with the largest target audience possible. Promotion helps to attract new customers, increase sales to existing customers, and stimulate brand name recognition. 4 Promotion should be designed to… Create an awareness and understanding of companies and/or products and to introduce new products, inform consumers or changing prices, and explain new services. Convince consumers about the benefits or using certain products or patronizing particular businesses. Remind consumers where to purchase certain products, to encourage purchases, and to stimulate additional purchases. 5 Promotion is one of the four major elements of the marketing mix. Product Place Price Promotion 6 Promotional activities affect how customers view a company. Deceptive or misleading promotion practices can harm a business. 7 Promotional mix: The combination of all types of communication used by a business to inform, persuade, or remind consumers about a company and/or its products. 8 Promotional mix elements  Advertising  Personal selling  Publicity  Public relations  Sales promotion 9 Advertising Any PAID form of NONPERSONAL presentation of ideas, goods, or services made by an IDENTIFIED SPONSOR. 10 Personal selling PERSONALIZED, TWO-WAY COMMUNICATION with a customer in the process of exchanging merchandise for money or credit. 11 Personal Selling Major form of promotion Very expensive because it requires individuals to make contact with potential customers Designed to complete the sale once a customer has been attracted to a business by advertising, visual merchandising, publicity/public relations, or special events 12 Publicity NEWSWORTHY INFORMATION about a company, product, or person placed in the media AT NO CHARGE with the purpose of creating a desired image. 13 Free Carried by mass media. Mass media are those instruments of communication designed to reach the mass of the people. Must be newsworthy to earn media space and time Must be timely, have local interest, and appeal to medium’s audience Seems more credible to consumers than advertising Company has little control over content of message or how it is presented to the public Can have a good or bad result Helps make styles, manufacturers, retailers, trends, or designers better known to the public 14 A written news story sent as publicity to a newspaper or magazine. Used to create public awareness of store openings, civic events at store locations, or announce employee promotions Used to create a positive image and awareness about a company, designer, or product 15 Promotional information packages that contain press releases and photographs. Help create awareness of products or designers’ latest fashions and apparel items Serve as free advertising for the business if pictures are published by the media 16 Activities designed to build positive relations with the customers, employees, and the community. Participation in community programs Effective PR can help build a positive image for a company, but cannot cover up bad news. 17 Visual merchandising Attractive and appealing physical display of merchandise combined with effective store layout and décor. Entices customers to enter the store Enhances store image Effectively presents the merchandise that the store has to offer Shows customers how to wear and accessorize merchandise 18 Special events Promotional activities designed to increase customer traffic, sell goods, and improve company image. Fashion shows Trunk shows Special sales Celebrity appearances 19 Coordinating the promotional mix elements Most businesses rely on more than one form of promotion to achieve promotional goals. The promotional mix is based on product characteristics and the existing market for the product. The promotional mix changes over time, just as products and consumers change. 20 Coordinating the promotional mix elements (cont.) Each promotional activity should be designed to complement the other types of promotion being used by the business. National advertising should be coordinated with local promotional activities. Sales staff should be informed of promotional activities taking place. 21 Promotional approaches during the fashion cycle… Introduction. Promotion is used to introduce trends and create interest in new merchandise. Rise. Promotion is used to motivate customers and increase desire for merchandise. Peak. Promotion is used to persuade consumers that the business’s version of a product is best and why. 22 Promotional approaches during the fashion cycle… (cont.) Decline. Promotion is designed to gain customers’ loyalty with reduced prices and reinforce their choice. Obsolescence. Promotion is used to emphasize large markdowns. 23