Advertising and Fashion Retailing Project Report

It is no longer a question of identifying your customers by age, geographics or income, but looking into how and why they buy, base on their DOD, beliefs and the occasion. So far as in marketing field consumer buying is mainly found on either knowledge or sensed deals. When we had various surveys at opposite universities and colleges and in different gatherings related to vogue we came to know somewhat that consumer comes crosswise many genuine problems while acquire different crops and services(especially related to shape products).It is important for a full(a) marketing manager to give suck back a smashing eye over these problems irrespective to the locality of sell of your product. These merchantman be classified as * business/Need Recognition * Information search rating of different purchase options. * Purchase decision more than over there are many otherwise factors which devour a abundant see on buying habits of a customer. These are some popular factor s which ought to be in mind of those who demand to inclose in any pre-teen market. Next was to listen to the habits of those where we want to place our product.Near FIFO mark, we felt the smell of both(prenominal) the middle class and elite class. Also it is great opportunity to enter into a market where your fix customers come to buy product fore(prenominal)bear by shops. So you need to make your market from asshole because some of the marketing home is already through with(p) by your competitors. Its a common belief that nomenclatures INFLUENCES his/her port the most. Obviously this culture helpers them developing these opinions, attitudes and beliefs. These factors volition influence their purchase behavior.However other factors like groups of friends, or lot they look up to may influence their choices of purchasing a cave inicular product or service. trade and advertising obviously influence consumers in attempt to evoke them to purchase a particular product or ser vice. Peoples social status bequeath as well impact their behavior. What is their role within familiarity? atomic number 18 they Actors? Doctors? Office bleeder? And mothers and fathers. The life bearing of some 1 who earns 250000Rs would intelligibly be different from someone who earns 2500 RSI. Also celebrities confuse an influence on buying decision.So for the reason we have also requested SOFIA EMIR and NAOMI ANSI to come at our exhibition as a chief guest. Whether the somebody is extrovert (out going and spends on entertainment) or draw in (keeps to themselves and purchases via online or mail order) again has an impact on the types of purchases made. I would love to code here a theory of ABRAHAM MASONS HIERARCHY OF NEEDS. He suggests individuals pay back to meet basic psychological needs of hungriness and thirst. When this has been met they then move up to the succeeding(a) correspond of the hierarchy. Hence, we have to reach to the level to Pakistani society and cu lture.So Masons concept is useful for marketers as it can help them understand and develop consumer needs and wants. We are non unaware of the fact as this directly extremum out the economic condition of PAKISTAN. We tried to not to make our products and services in access major(ip) for middle class. This is one of our marketing strategy as well as social responsibility. FASHION prevision Fashion forecasting is a crucial and manifold marketing strategy which requires a double-dyed(a) express on marketing research. Fashion forecasting is the farsightedness of wittiness, behavior and buying habits of the consumer.ALLURE will be the prospective efficient indicator to forecast the direction in which spurt will move. Fashion forecasting will be our solid link to create a good market. We will look for prophetic as well as profitable styles and ideas that capture the mood of the time and signal a new spirt trend. We are well aware of the fact that if we need aloud on to fashion role s a pioneer and want to enhance its injury image, fashion has to continue to innovate. The task of fashion fore casting will be accomplished by the managers (owner of boutique) as we are done with our complete pick up on fashion marketing.Forecasting of fashion is an sign pervert which is then understood, practiced and then applied. Forecasting the upcoming demand for particular styles, fabrics and colourize is an important sentiment of the fashion industry. Its a common routine of fabrics specialists that they work for both year ahead to determine oecumenic guidelines for each fashion season. This is because of when once some fashion is forecasted then it takes about 1-2 year of regular saturated work to take the fashion from our mind to the functional market.Forecasting of fashion can be divided into two categories * Short term fashion forecasting * long term fashion forecasting For us as we are going to setup a preteenager market we decided to work on inadequ ate term forecasting. At a introduction act of our boutique hireling so much press and services for the purpose of forecasting of fashion wont be a great idea. As discussed earlier this concern will be done by us (owners). Later on we will subscribe to one or more arrives, whose Job will be to scan the market and report on the developments in color, textiles and style directions.Major trends in lifestyles, attitude and culture in particular music, sport, cinema and television are use to predict changing consumer demand. This process involves the following activities such(prenominal) as studying market conditions, noting the life style of the people, researching sales statistics, evaluating popular designer collections, surveying fashion publications, observing street fashions etc French companies based in Paris have traditionally dominated fashion forecasting. The point arises that why are we lacking hind end and how are they leading us.Forecasting is more than Just aid runway shows and picking out potential trends that can be knocked off at lower prices (although that is part of it) but this is a wrong practice which is cosmos followed by our so called fashion National designers. or else they need to understand that it is a process that spans shifts in color and styles, changes in lifestyles and buying patterns. The keywords behind the in(predicate) fashion forecasting is good consumer research, color forecasting, textile development, range of shows (operating over the 16 months preceding counterbalancing Innovation, ethnic Indicators etc.Keeping a fact in the mind we have made a unique collection of . by and by the forecasting based on practical figures we apply that the collection we are going to present on exhibition will be a complete innovative collection among all boutiques. When we started our research on colors and upcoming styles it looked a little tricky but as soon as we got into it completely, things became clearer. do decisions about expected favorable colors of next summer was crucial task. Different experimental shows, runways and vast or small exhibitions we managed to do help us a lot in this matter.We came to know about the taste of people of segmented market and their despotic and negative response about different outfits colors and embellishments and all. By the grace of God most of the times people respond with great appreciation and therefrom we got our stray to achieve our goal. INCOME LEVEL Frequent losses are expected in the first a couple of(prenominal) years of any operations due to initial investments and expenditures but once we are stabilized, this boutique will become a good source of income for us. origination Barriers I . Large Indian and multinational companies hold around 65% of the market.