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1. Fashion Research Assignment
<<Research study on Fashion Industry>>

2. Introduction
Fashion industry is the multi-billion dollar industry having its existence
all over the world. Fashion is termed as the style preferred by the
group of people over a period of time in the items of the apparels,
footwear, accessories etc. The apparel market of the world is valued
around 3 trillion dollars and it represents 2% in the global Gross
Domestic Products (GDP). The divisions of the fashion industry
include the men’s wear, kids wear, sportswear, bridal wear along with
the accessories.

4. Branding
Branding is the orchestrating of the values of the product for
creating a permanent place in the mind of the customers in
the way like:
• promotion
• Promotion
• Placement
• product quality
• pricing

5. Uniqueness in Brands
The people used to influence by the fashion brands mainly in the
terms of uniqueness.
• Quality
• Price
• Attracting Designs
• Unique Creativity
• Comfortable Fibres etc
People used to prefer the brands personallity not only by the price
but also the role of the endorser who influence the mind of the
people in order to showcase their standard in the society.

7. Marketing Strategy used by Brands
• The organization fixes their marketing strategy based on the
niche market or differentiated market for influencing the target
audience towards their brands.
• Mostly the luxury brands target the niche market where they
attract a particular section in the market for increasing their sales
turnover.
• Luxury brands showcase the “best” attribute in their product
offering which is exclusive, mysterious, expensive and rare by
nature.
• The mass market strategy or market research is avoided by these
brands in order to align the customer’s emotion in the society.

8. Market Research for Branding
• The people preferring the luxury brands are the richest section of
the society whose standard and value is also very high. From that
point of view, these people used to prefer the luxury brands for
differentiating their value in the society.
• Luxury brands cannot be accessible to everyone in order to hold a
high value in the market
• The fashion brands like Louis Vuitton, Rolex, Hermes and Gucci
can fall under the category of the luxury brand with the features
like exclusive design, high price and renowned fashion designer’s
contribution.

10. Behavioural Psychology of Buyer
Social as well as behavioural psychology of the buyer influence the
decision making process while considering the purchase.
Personal factors like:
• Personality
• Motivations
• Desire
• Aspiration etc.
plays a major role to provoke the buyer for selecting the premium
brands.

11. Social Factorslike:
• Interactions
• Sharing Opinions
• Suggestions
which influence a buyer to select the premium brands.
Sophistication comes in the mind of the buyer who is having
high aspiration in their life and has a role model. It is the
psychology that comes in the mind of the buyer to follow the
role model which reflects in their purchase decisions.

13. High Level of Competition
• High level of competition is exists in the fashion industries. There
are many stories in the fashion industry which decline the
business due to the negligence and sound market research of the
people’s taste and preference. Thus investment plays a major role
which brings difference among the brands operating in the
premium and luxury segment. For example, premium brands like
Loro Piana having their items which includes cashmere fabrics
and woollen garments that are operating their business
successfully across the globe. The sales turnover of this brand has
increased from 243 million Euros to 512 Euros despite of the
recession period

14. Research and Findings
Research is the only way that can give insight in to a well defined situation
or problem. The approach of the research can be of two types which are:
• Primary Research: It is the procedure, where the responses are collected
directly from the respondents in the form like interview, opinion sharing,
observation, survey etc.
• SecondaryResearch: It is the procedure where the responses are already
exist in the secondary sources like books, websites, publication works etc.
In order to make the discussion more relevant, both the approaches of the
research are taken granted in order to determine a relation between the
roles of the premium brands in the fashion industry with the attitude,
culture and lifestyles of the customers.

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