What is fashion management?
Fashion management involves
- Building innovative marketing, branding, pricing, segmenting, distribution, retail, and media strategy basis comprehensive research and analysis of the ensuing fashion trends, customer sentiments, demographics and psychographics, tastes & preferences, his capacity to pay, social and cultural trends, economic situations, etc.
- Analyzing product and design viability vis-a-vis market
- Enhancing, building, and maintaining brand image, awareness as well as loyalty
- They predict success as well as product popularity.
- Sourcing, merchandising, retailing as well as exporting of the products also fall under his ambit.
- He is responsible for revenue since he is involved in creating demand through various advertising, marketing, and promotional campaigns besides fashion shows.
On completion of Fashion Business Management course, students will have the options of joining any of the following job profiles listed as under:
Excellent quantitative skills along with an ability to forecast sales and accordingly manage stocks are a prerequisite for this profile. In addition, he must stay updated about his customer preferences as well as taste along with market and fashion trends so as to plan and promote the right product mix at the ideal price point using attractive displays. He also is involved in maintaining the appropriate quantity of stock at the right stores at the apt time. Merchandising can be further divided into Fashion and Visual Merchandising.
He is responsible for sales and hence revenue. To achieve the same, he builds appropriate online and offline marketing strategies to not only engage consumers but also to create brand awareness, communicate brand positioning, maintain brand loyalty, sustain as well as increase market share. As per specialization, Marketing can be further classified into:
- Digital Marketing-Drive online marketing initiative-sales, online traffic, and inquiries.
- Events Marketing-Providing platform to showcase products and generate consumer interaction. E.g.: Trade & fashion shows, Launch events, etc.
- Sales– Ensure conversions of walk-ins as well as inquiries that are a result of various marketing initiatives. Basis the analysis of customer demand, predict sales as well as stock requirements at various retail outlets. Making sure that the product reaches consumers efficiently.
Fashion Product Manager
Usually, he is responsible for managing a product line and is involved in product development right from the conceptual stage to its final release in the market. He makes sure that the developed product is in line with customers’ preferences, prevailing market trends as well as company’s overall sensibilities.
He covers industry events like fashion & trade shows etc and is an influencer since he shares his insights and impressions about fashion scenarios as well as products across continents with people through blogs, magazines, trade publications, PR articles, and e-commerce websites, etc. Besides this, he is also responsible for organizing fashion shoots for magazines, etc.
International Program Manager
He strategizes to drive brands’ global expansion.
He ensures that the best quality raw materials like fabrics, materials, accessories, zippers, etc. are sourced at the lowest possible cost. This makes sure that not only the company retains a competitive advantage, but it also maintains the production schedule.
He is required to have a pulse of consumers, stay up to date with ensuing fashion trends by attending trade & fashion shows, visiting the production facilities as well as meeting the designers in order to predict fashion trends and identify the appropriate product that can be sold at their stores at the apt prices. Besides this, he is also responsible to negotiate contracts, price, quality, and delivery schedule of the products.
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