18 May Categories And Target Market Assignment In Fashion
For each assignment, instead of you sketching new products, do the same assignment but from the viewpoint of a Retail Buyer – you will source EXISTING PRODUCTS from brands that fit your criteria.
So for everything you would otherwise need to sketch – you just go find the brands and products that fulfill the requirements assignment.
Expand your “2-piece collection” from last week’s sketches into 5 total pieces of coordinating looks in a cohesive collection. Define the Lifestyle, Price and Demographic you are targeting for this collection in 1-2 sentences. Name 3 market leading brands that provide a frame of reference for this collection and provide links to each of their websites. Look up and provide the link for 1 existing product that is comparable in price and quality to 3 of your product sketches from your collection. Compile info into a cohesive presentation including photos of all 5 sketches of your 5-piece collection and upload into Moodle. Be prepared to present to class.
Class Notes – . Define your fashion category & customer segment by:
1). Lifestyle/Activity – ex. Yogawear, Formal Attire, Sportswear/Careerwear
2) Price.
- Luxury – $500 – $thousands. ex Market Leaders. Gucci, Versace, Chanel
- Designer / Bridge – $200-$1000. ex Marc Jacobs, Alice & Olivia, Theory
- Contemporary – $80-$250. ex Anthropologie, Banana Republic, Guess
- Moderate – $50-$120. ex. Zara Basic. Urban Outfitters. Gap.
- Budget – $35 and under ex. Old Navy, H&M, Forever 21
3). Demographics.
- age. Gender. Location/Climate. Size/Physical attributes. culture.
4). Product Category
- Shoes, Jewelry, Bags, Swimwear.
Understanding who Market Leader are in your Category/Segment is important because – knowing the competition sets the bar for quality, trends/looks, product expectations, service expectations. Sets examples for Business best practices and what not to do.
Defining your customer is so important because it helps you make choices for your products based on what your customer will likely want. Helps define your competitive advantages, helps you determine price.
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