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Launching fashion brands, where designers/ fashion houses go wrong.

Guest post by: prakash gupta

Article Overview: There are hundreds of brands in fashion market, but why is some brands so popular? What makes them enjoy the leverage in the market? Why do fashion individual fails in launching a brand? what is a ASSOCIATIVE brand ?

Launching fashion brands, where designers/ fashion houses go wrong.

What makes VERSACE so special? What is so different about MANGO? Why does VICTORIA SECRET name comes to our mind, when we talk about the best inner wear for women? Thought of? Not really ! isn't . But all want to have a brand as powerful as them. Lets get on to the depth of the same so that we understand why a majority of designer fails and why a fashion label struggles to make it in the market. We visit VERSACE on line store (just google it), and there we are ! The top most link on right says you that they are active on social network media too . This is a wide aspect in current market where many fail to tap in . Next we see is a wide range of garments under various categories and accessories to team up the entire look. Founded in 1978, by Gianni Versace, the brand has witnessed a steady changes over time and has established itself as one of the most sought after brand among corporate, celebrity worldwide and not to mention the high fashion lovers.

Lets us start the study with VERSACE as the base. We are looking at ARMANI, DOLCE & GABNA, GUCCI, PRADA, ZILLI etc on the same line. The brand that we look at is widely known now and people buy it as a ASSOCIATE need product and not as a BASIC need product . ASSOCIATE need product is what we look at association to brands/products that helps one to benefit in social terms. The moment we see a VERSACE suit on a man, we quote "which brand?" and there comes the answer- "VERSACE" . Clear indication is seen that the brand gives a social distinction to the person and that makes him spend more on the brand.

The first step to create a brand is to establish first whether one wants to launch as a Basic need product or as a ASSOCIATIVE product . Next and the foremost mistake budding designers do is the concept and the price. We must understand that clothing is one of the basic needs in this planet , with food and shelter being the other two . Clothes will sell, no matter what . Its just the demand -supply gap which logs in. Creating anything without knowing what is desired will always see the ill consequences of it.

Most of us do not think from a consumer point of view. Designers copy concepts and launch at a price point , hardly knowing what makes them do that . The concept of "Think Global , Act Local " is very much missing. So how to go about it? Lets focus on the wide aspects of the same as a checklist before creating/launching a brand.

1. Is there a similar product in the market?

2. What is new /USP of your product ( for yes/no on the above one)

3. What is the demand of the product? (market research is the back bone)

4. The demographics of the market targeted (helps in price, positioning , advertising)

5. How easy is to get a copy of the product ?( point 2 above helps one reformulate the product so that its difficult to make one)

6. How well are we using the market feedback on the product formulation?

7. How well has the product befitted the consumer? (test marketing, pre-launch helps in this)

Considering the point 7 as the most important of all , as we know consumer needs cannot be satisfied and there is no limit to a human want. The key is test marketing with samples before going on the big path. The product when brought for a price, has many expectations from a consumer point of view. Lets see this with an example. We will take shoe here as a example as it relates to all of us and is easy to relate. After we have brought the same , what are the things we look at long term, before we buy the next one?

The price paid - the value for money

The covers ,

a. how easy it is to maintain,

b. how good is the fit, look, comfort.

c. how is the response to the same?

We all look for compliments, don't we? What a lovely shoe ! Hey ! from where did you buy those lovely pair of shoes? Aha ! so u got a new brand xxx ?

Look at whether the product you made gets maximum mark on this key aspects above. A true feedback not only helps to re consider the product , but also helps to get the fundamentals of a brand set right.

Another important aspect that is missing and that is seen as the backbone of world class brands is the use of technology is marketing. With the sudden growth of social media and use of mobile phones, reaching to mass and collecting the real time feedback is a cake now. Considering the size of population on the planet , its very foolish to think of " publishing designs on social media will increase the risk of copying/modifying " . There are million brains that thinks on the same thing at one point of time. What counts is the person who makes it first and markets it. Think of Albert Einstein! Did no body ever bathe before he said Eureka ! and discovered the law of buoyancy. Using social media helps to cut the cost and ensures a robust feedback mechanism, unlike the traditional market research gathering techniques on a list of questionnaires on paper. Well that might be helpful, but will take this opportunity to admit that it doesn't always as I myself had self answered on some 100 questionnaires that were handed as an assignment during MBA days. Well there u can guess the amount of damage done !

So to sum up , considering the aspects discussed above helps to get an aspiring designer to get on track and act as a guideline to ensure that the brand does not fail in the market. Will add the RCSM (Retail Customer Satisfaction Model) as a master key for the point 7 that will help my readers to get along the article .

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Article Tags: fashion sales techniques, how to launch a brand, launching fashion brands, why brands fail



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