Analysis of the Fashion Industry Essay

spurt is wizard of the worlds close to important creative industries. It has provided frugal thought with a sancti adeptd example in theorizing about using up and conformity. Social thinkers surrender abundant treated flair as a window upon social relegate and social form. Cultural theorists defy foc utilise on elan to study on symbolic meaning and social ideals. spurt has also been seen to personate representative characteristics of modernity, and even of culture itself. E reallyone wears clothing and inevitably participates in appearance to some degree.However, it would be an understatement to say that appearance influences just clothing in particular, to be very precise modality influences almost every smell of our daily life. More a great deal than not, Fashion trends are a verbalism of the political, social and economic changes and organisements around us. Fashion is an important part of not only arts merely maybe even more of economy. At first glance onl y the aesthetic aspect of it is visible with the beauty, astounding creations and materials. But if one looks more carefully, the whole highly developed and make producing manufacturing lies behind this glitter. The fashion perseverance consists of four levels the production of raw(prenominal) materials, principally textiles , leather and fur the production of fashion goods by designers, manufacturers, contractors, and others sell sales and various forms of advertising and promotion.These levels consist of m both separate but interdependent sectors, all of which are devoted to the goal of satisfying consumer drive for apparel under conditions that enable participants in the manufacturing to operate at a profit. Not only The global fashion apparel industry is one of the most important sectors of the economy in terms of investment, revenue, address and employment generation all over the world, but also The agate line of Fashion is an essential daily resource for fashion crea tives, executives and entrepreneurs. Selling is the final examination activity of business .In set to survive , the ability to sell has a great portion of importance among other business abilities. The fashion industry is rather a very sensitive industry toward changes in the pagan , social and economic factors .It is relatively harder or more complicated to ascertain why a product of a fashion industry sells speckle others are not. Companies perform various efforts to enhance their selling capabilities. Conducting a merchandising analysis, that is, reviewing the strengths of an organization, its weaknesses, opportunities it can capitalize on for maximum profits, and the threats to achieving its full potential provides very invaluable information to the organization about the market and encountering the industry, as well. The analysis is used to define both the unfavorable and favorable factors and their impacts on goals of the business.The fashion industry, which is very vola tile, is not an exception, it too has its own share of strengths and opportunities which once utilized by an organization can help it grow well and weaknesses and threats which the organization must strive to minimize to the lowest possible levels. Fashion marketing is based on the identification of market trends which are used to analyze, develop and configure related marketing strategies and promotional activities for fashion products. Fashion marketing is the application of a range of techniques and a business ism that centers upon the customer and potential customer of clothing and related products and services in order to meet the long term goals of the organization.The very nature of fashion, where change is intrinsic, gives emphasis to marketing activities .Essentially fashion marketing is composed of elements of fashion designing and marketing management which are combined together to develop a comprehensive marketing plan for fashion products. This marketing schema and the related plan is composed of different tasks relative to the elements of promotions, advertising, retailing, branding, affiliate marketing, and distribution. In order to be successful fashion marketers have to be future oriented with forecast information about the market. The fashion industry demands that in order to have an strong fashion marketing outline, companies need to understand and identify their customers, the trends in the fashion industry as well as how the branding and the marketing of their products effects the purchase behavior of the consumers. This knowledge is the of import resource available to fashion marketers to develop a marketing strategy for their fashion based products .Marketing in the fashion industry is often difficult as the industry is very volatile with constant changes pickings place in its external as well as innate environments. As a result the approaches taken towards fashion marketing have to be adjusted and revamped in order to effective ly target the current and future trends. A myriad of factors define the fashion retail market, namely the interactions among fashion companies and the interaction between fashion companies and the consumer. The retailers seem to have the most cater in defining the market as they possess the power to market goods at monetary values desirable to them.However, the market price is in fact also determined by consumers. According to basic economic theory, the price of a good is determined by the demand by consumers and put up of the good by the producers in the economy. Especially for the fashion retail market, fashion trends are forecasted by analysing results of consumers emotions towards the previous trend. Hence, consumers do play a vital role in forming the fashion retail market as well. Consumer culture or consumerism, is the theory that a progressively greater consumption of goods is economically beneficial. Fashion creates a liking for ownership. Coupled with push-down stack media and advertising, market makers sell lifestyles and consumers consume such products and lifestyles in hope for upward(a) mobility in the social hierarchy.This creates a culture of hedonism through the impression that one can purchase a status and in turn, happiness. As such, this new consumer culture lays the foundations for consumption, and demand and supply, of fashion in a society. However, fashion comes and goes and is never constant. But with the ever changing trends and fashion, we see that people have to constantly buy and consume new goods and services to stay in fashion. The frequent renewal of fashion in our capitalistic society makes it an effective marketing strategy as the constant updating of trends and the human desire to fit in keeps the fashion industry alive.The fashion industry is a product of the modern age. Prior to the mid-19th century, most clothing was custom made. It was handsewn for individuals, either as home production or on order from dressmakers and tailors. By the beginning of the 20th centurywith the rise of new technologies such as the sewing machine, the rise of global capitalism and the development of the manufacturing plant system of production, and the proliferation of retail outlets such as department storesclothing had more and more come to be mass-produced in standard sizes and sold at fixed prices. Although the fashion industry developed first in europium and America, today it is an international and highly globalized industry, with clothing often designed in one country, manufactured in another, and sold world-wide.For example, an American fashion accompany might source fabric in China and have the apparel manufactured in Vietnam, finished in Italy, and shipped to a warehouse in the United States for distribution to retail outlets internationally. The fashion industry has long been one of the largest employers in the United States, and it remains so in the 21st century.By any measure, the industry accounts f or a hearty share of world economic output. there is no doubt in the importance of fashion as an industry branch. The amount of money it produces and the number of people it employs makes it a very significant area in the world of economics. On the other side economic situation and changes within it also leave trace on fashion industry. Being so closely entwined any detailed analysis cannot be done without observing both