Creative marketing strategy Essay Example | Topics and Well Written Essays - 2000 words

Creative marketing strategy - Essay Example The emergence of competition in the industry among the different sectors has come up due to the fact that the labels compete on the quality of their products rather than the price. A person would buy a well known product for instance Louis vuittion or Gucci at a very high price compared to the same product without the logo. Due to this factor of attractiveness, marketing or product promotion has been a key tool to great sales for the fashion industry with different modes of advertising and marketing used. Currently, the fashion industry is a multi-billion industry that has seen a lot of investors and entrepreneurs enter the broader textile and apparel industry. The amount spent in US on fashion each year is 250 Billion USD and according to the analyses, the amount is set to double in the next ten years. This translates that number of people employed is set to increase and the annual global fashion industry revenue is also set to be rising in the near future. In today’s era of fashion industry, it is more than just availing products in the international markets, but it entails marketing, branding and shipping of products. Due to the differentiation of the world markets, uniformity in marketing may be hard, but with increase use of technology, marketing and availing goods in the market has become easier (Tungate, 2012). The problems of different trade policies, difference in trading currencies, laws and infrastructure have been reduced .The companies that have been leading in pr oviding assistance to small scale designers and Fashionist include; council of designers of America, Editd (UK) and Nike. These organizations have helped young designers scale up the tough competition through helping them brand and market their products. Economic boom or recession influences the general income of the fashion industry. During the boom, people will tend to spend more on luxury and new trends because they