Marketing Communications Memo
TO: The management team
FROM: Owner of a small designer clothing business
SUBJ: Marketing Strategy of a Designer Clothing Business
In developing a market base for any product, there are many factors that influence the determination of which product to offer and which market to target. These factors include demographic factors and psychographic factors. Demographic factors generalize the wide market base in categories such as their age, social class, gender and religion.
These factors focus both on the physicality of a person as an individual and the external influence on the person, for example, in social class and religion. Psychographic factors, on the other hand, focus on emotive drive and the mental perspectives of the market hence will generalize consumers according to their personalities, beliefs, interests, values and buying motives. On understanding this factors, one can effectively determine which approach will work best for the target market and when and where to advertise in order to achieve maximum results.
In this case, we specialize in designer women clothing. Our target is the economically empowered female who appreciates style and has a unique personality. One who understands the value of designer clothes hence is not afraid to spend on them.
In this case, we would have to prioritize age and income over the other demographic factors as different age groups will require different styles and fashion. When it comes to psychographic factors, personality and buying motives would have to be of prior interest over the other factors.
The mode of dressing varies with the different age groups hence we need to understand which kind of dressing will suit which market when planning for marketing. Our marketing strategy needs to focus on the different age groups and understand what is stylish among them in order to remain relevant. Another factor to consider in the marketing strategy is that the different ages have different body shapes and when the younger female may prefer clothes showing of their shapely bodies, the older generation may prefer less revealing clothes. This should be made clear in our advertisements that we consider each age group and are capable of delivering clothing according to age. In designer clothing, it is very important to know how to differentiate people according to their income levels. Designer clothing is unique; different from what is offered in stores hence may require more attention in the creation of new designs and capital in making the clothing. This has to be recovered in the sales, and that is what makes them sell at higher prices. Therefore, the consumers being targeted need to be differentiated into different categories in their spending ability gauging by their income levels. The market being targeted should be one of a high social class because they have enough to spend and shopping is a culture widely accepted among them. Yet another major determinant in designer fashion is the personalities of different individuals. A person’s dressing signifies who they are. Clothes reflecting ones personality make them more comfortable, and that is something that designers strive to do. This should be emphasized in the marketing campaigns as most females want to have their personality displayed in their clothing, therefore, by assuring them we are able to connect with the clients. Yet another important factor in requiring consideration in female clothing design is the buying motive of the customers. Most females with a high spending power will spend on clothes that are stylish and that are what designers provide. Some tend to shop in order to fulfill their class requirements and stay at a higher level that their peers. Marketers should take advantage of this by placing higher prices on such target groups who have enough cash to spend. Clothes sold to those individuals buying from necessity are subsidized to enable to buy in bulk hence the designer still gets a market out of them. This is very important in pricing, as luxury shopping tends to have higher prices than necessity shopping.
The most vital demographic data to this organization would thus be the age bracket of the target market. By specifying on a certain age bracket which, in this case would be the late twenties early thirties, we are able to maximize on profit because this age bracket is still young and do not have much responsibility, for example, children. This age group is also still mingling and interacting hence have the urge to look smart and appealing at the same time therefore will spend more on their looks. Their consumption power is another factor to consider with this age group rising in their career levels hence their purchasing power is increasing. The psychographic data that would most benefit the marketing company would be personalities of the identified consumers with these consumers of this age group having vibrant social lives and social personalities hence the marketing should focus on relating to the social nature of this market. Their buying motives are also a major determinant in the marketing approach as their motive is to look presentable, professional at work and easy going, and social outside work circles.
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