Marketing Research Fundamentals of Market Research The action

Marketing Research

Fundamentals of Market Research The action or activity of gathering information about consumers' needs and preferences. Market research involves two types of data: Primary research: this is research you compile yourself or hire someone to gather for you. Secondary research: this type of research is already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry. Most of the research you gather will most likely be secondary.

Sales Research A type of marketing research in which evaluations are made of previous records to recognize sales trends. Companies look at rising sales identify developing trends and declining sales show what fashions have passed their peak. Weak sales indicate fashions that are not meeting consumer demand.

Consumer Research Consumer Research: a type of marketing research that investigates the driving forces behind consumer behavior, consumer psychology, and purchasing patterns. Types of Consumer Research Surveys by telephone or mail to determine income levels, lifestyles, fashion preferences, and shopping habits Consumer focus groups to discuss aspects of shopping satisfaction and the pros and cons of currently offered merchandise In-store informal interviewing to assess what customers like and dislike and what they want but cannot find

Comparison Shopping Comparison shopping is most commonly used as personal research. A type of marketing research that evaluates current popular styles, by looking at fashion magazines, celebrities, and “street” fashions.

Fashion Forecasting A fashion forecasting predicts colors, fabrics and styles that will be presented on the runway and in the stores for the upcoming seasons.

Textile Designer Creates new patterns or designs on fabric Or redesigns existing ones Surface designs: applied to the fabric Structural designs: woven or knitted into the fabric Knowledge of computer, fibers, dyes, finishes

Textile Colorist Decides on combinations of colors Computer or paints/paper Knowledge of fibers and dyes

Textile Stylist Coordinates actions of textile designers and colorists Works with the customer and the manufacturing plant Skills: organization, communication, wellrounds Knowledge of all processes in textile production Well paid; must gain experience

Assistant Stylist Communicates with textile production plant Clerical duties for the stylist College degree required Work their way up through the system

Fashion Trends The direction of movement of public acceptance of color, texture, and silhouette in fashion. A style that is hip or popular at a particular time.

Fashion Services A company that provides services like trend & color forecasting, market analysis, design concepts & design documentation etc. for manufacturers.

Examples of Fashion Services Doneger Creative Services Promostyl ESP Trend Lab Carlin International Here and There Trend Union

Color Services Industry professionals who meet twice a year to pool their knowledge of color cycles and preferences and to project color trends for the future. Color services will send out yarn or swatch samples to designers.

Examples of Color Services Standard Color of Textile Dictionnaire Internationale de la Couleur Pantone, Inc. International Color Authority The Color Box The Color Marketing Group Concepts in Color Huepoint Color Portfolio, Inc.

Trade Publication Is a magazine or website published with the intention of target marketing to a specific industry or type of trade. Example: WWD VMSD DNR NRF Brief

Consumer Publication A publication whose editorial content appeals to the general public. Example: Vogue GQ Elle In W Style