What Does a Marketing Mix Consist of in Fashion?

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In the fashion industry, a "marketing mix" usually consists of a few particular things. Find out what a marketing mix consists of in the fashion industry with help from a PR and marketing expert in this free video clip.

Part of the Video Series: Marketing & Business
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Video Transcript

Hi. My name's Heddi. I'm the Big Cheese founder of Travel Gift Card, MyTab.co coming to you from San Francisco. Today, we're going to talk about, I love this topic, a marketing mix in fashion. Now you can adapt this to anything so, if you've got friends that are also trying to really push themselves out in any kind of industry or creative, not just fashion. It is amazing. It's called The Four Ps, product, price, place and promotion. Now I studied this at university over twenty years ago. I excelled in this, I was living and breathing this. This is something that I love talking about. I'm going to explain to you really simply how it works and give you an example from my favorite designer, Betsey Johnson, holy grail, holy grail. So let's get going. So let's take a look at this, marketing mix. I talked about the four Ps I am obsessed with the four Ps. Four Ps, product, price, place and promotion. I studied this so extensively at university. I'm going to explain how to adapt this and give you a real life example. You need to incorporate this in marketing, online and offline marketing. That's how it relates to, and public relations, media coverage, social media. So then you look down, is the product needed. This is product, is it needed, who is your target audience? It may just not be who you have designed for. Take that in to account, who is your target market. Your price, define the right price based on your audience demographic. There is no point, and I'm going to write this down now, three hundred dollars for teenagers. Teenagers will not in a million years buy anything from you at three hundred dollars, a bracelet, a necklace, an accessory or dress. The place, be in the right place at the right time, location, location, location. Even if is online, make sure you have your act together on your timing. And promotion, PR, marketing, advertising, sales, everything combined, it works really well together. I'm going to get gamey Betsey Johnson, obsessed with her. So Betsey Johnson, she went bankrupt, she's come back to life again, I'm a massive fan of hers. She's got all these features, she's got all these products. Look at the prices down here. This is the price part of the marketing mix, twenty five dollars. thirty dollars. Where does it go up to now, you're looking at the tote bags. I've got two of hers. I love them. You're looking at ninety eight dollars and it goes, it's like a hundred and twenty dollars. This is really affordable. It's not a luxury, this is something that you will use and has quality. Her products are really good so it's going to last you for quite a long time. Look at the bag on the left. It's beautiful. So without drooling all over myself just now, you're looking at the price she's targeting correctly. Then you go down to a selling point, location, location. She's got her Facebook page, links directly back over to her website because she hasn't got any stores anymore. Absolutely fantastic, you know where you're going to. Twitter account goes back to her store again. She's selling through all these different ways. This is all your marketing mix. And then she can obviously communicate with her customers. So when you're looking at something like this, you don't need to have a store. You can be selling online. It's still comes under the full element of your marketing mix when you are building a profession brand. So you look down here at all the products, the jewelry, the accessories, the bags, the apparel, even her own gift guide. She's made sure that she has turned here business purely to online purchases and created a full marketing mix. So I'm a complete lazy monkey. I will wear sweat pants and pajamas every day for rest of my life if I possibly can do. I have more pajamas then actual real clothes. But Betsey Johnson, what she's doing right, she's targeting someone like me. She's quirky, she's slightly oddball, everything is slightly more colorful. There's something that's extra that nobody would have thought of. She's priced it within a range that, I'm 41 years old, I don't want to go out and spend 3,000 dollars on a bag. I want to spend something like 120 and do it as an impulse purchase. I would rather do ten of those than go and spend 3,000. So what she's done, she's got the right product price for the right person who she's targeting because she's attracting a personality. Now take in to account Betsey Johnson is something like 60, 70 years old. Thirty years younger than her, but she targets somebody like me because the way she's designed her website, it has the right colors, it has the right branding. She's incorporated the four Ps, her product, her price, her place and how she promotes herself out. I will then go out and I will go online and I will spend 500 dollars on ball gown that I might only wear once every two years. But she's targeted somebody like me in the right place at the right time and she does this continuous. So one thing you have to remember, you can adapt as you're going along your marketing and you can evolve, but you need to remember if you are so adamant that what you are doing is so right and that audience will absolutely love you, don't evolve too quickly and don't evolve too dramatically. Never confuse your customers in marketing, and also don't change too many things too often. Because people do like familiarity. They'll like you, they will keep buying from you. My name's Heddi. I'm the Big Cheese founder of MyTab.co, coming from San Francisco. And this is to Betsey Johnson.


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