Sometimes you don’t know what you need. But sometimes you do know what you need, but you just can’t describe it. So we are both clear about how I can help you, here is a quick glossary of terms.
Fashion Marketing Terms
Brand/Branding - a brand is not a logo. A brand is so much more than that. It’s the reason people should trust you and a critical short cut for customers to understand what you offer & how you are different
Campaign - a series of linked promotions to get across a single proposition. Strategy, copywriting, video, photography, styling, creative direction there are so many components to developing a successful fashion campaign
Content - social media thrives on rich content. Copy, photos, videos, captions, hashtags are all content.
Copywriting - words are powerful. Great copy can drive people to take action. In some ways everything you do is about copy.
Digital Marketing - social media content, social media advertising, influencer marketing, google search ads email newsletters, banner ads are all in the lexicon of digital marketing
Influencer Marketing - people spreading your message through social media. Not all influencers are created equal.
Marketing Communication - how you get your message to consumers so they become customers. Digital or traditional, based on your budget however, big or small.
Marketing - how you create value for your customer, including product, price, place, promotion
Pitch Deck - a document that helps you sell products or communicate
Product Development - creating new products to find new customers or give existing ones more choice. Product development can help you keep up with the competition or manage change in consumer behaviour
Product Market Fit - carrying out research to ensure you have enough customers to make your business financially viable
Visual Identity - brand assets such as logo, symbol, photography style, colour, fonts all help you communicate what you offer. A visual identity system is the nuts and bolts of your brand.
Digital Marketing
Analytics - are the systematic measuring and analyzing of data. None of us like to do it. Without it, digital marketing is like having a car without wheels
Content - copy, photos, videos, captions, hashtags is all content
Conversion Rates - percentage of users who have completed a desired action
Engagement - the different ways people respond and interact with a business; may be platform specific
Traffic - the number of visitors to your website
Unique Visitors - the number of unique visitors to your website
Product Development
Range Plan - outlines what you offer, colour, size, fabric. Requires an understanding of fashion merchandising and fashion product lifecycles
Prototype - creating a preliminary version of your product or service
Product Development - creating new products or improving existing product or entering completely new markets
Sample - an example of the final product, can be used as a contract in kind. Skip the sample stage at your peril
Technical Drawing - a product drawn with precise details, can include measurements, instructions so the pattern cutter or factory understands the garment’s silhouette and fit.
Marketing Mix
Product/Service - core function, design, quality, materials, width and depth and lifecycle
Price - pricing is a function of cost and profit. However, you can use pricing as a strategy to drive sales or communicate how your product/service is positioned in the market
Price Architecture - how you build price points for different sectors of the market, entry, average and ceiling price
Place - how you choose to deliver your product/service to your customer. Direct to consumer, via third parties, online or offline are key considerations
Promotions - paid advertising, sales promotions, public relations, word of mouth and everything in between. Your promotional mix can make or break your business
People - management responsible for the entity, as well people involved in the business who can help promote the brand.
Processes - down stream operations, facilities, tools & equipment, supply chain management and up stream customer service should all flow to give a seamless service to the customer
Physical Evidence - all customer touchpoints including store, pop up design, packaging, business cards, thank you notes should promote your brand
Fashion Merchandising
Sold Quantity - number of products sold. Small businesses may be better placed to have higher value sales than number of products
Gross Sales - total amount of sales
Net Sales - a good accountant usually wants to know the sales figures once allowances (discounts from defects), sales discounts (promotional price reductions) and sales returns (items returned)
Selling Speed - how fast the product is selling. Calculated by sold quantity divided by the number of selling days. Important to know which products are dogs and which are cash cows
Unit Per Transaction - quantity sold divided by the number of transactions. Your objective should be increasing average sales not volume
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