20 FM Product Identity

8/9/2019 20 FM Product Identity

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Product Identity

A name, term, sign, symbol or design,

or a combination of these intended to

identify the goods or services of one

seller or group of seller and to

dierentiate them from those of

competitors.


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Product Identity

Image that a company possesses is the

perception its customers have of it

Competitive environment


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Product Identity

Controlling the target segment

Growing trend of vertical integration


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Product Identity

he value of a brand, based on the

e!tend to which it has

"igh brand loyalty

#ame awareness,

$erceived %uality,relationships.


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Fashion Image

A company(s fashion image is based

on its merchandise, promotion and

environment


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Fashion Image

$roduct life cycle or fashion cycle

describes not only the adoption level of

consumers, but also of the brands


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he Adoption $rocess

his ad encouragestrial by oering a

coupon.


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Categories

)hen an organization introduces a newproduct, people do not begin the adoption

process at the same time, nor do they movethrough it at the same speed.

Adoptersare divided into *ve categories.


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2.5% Innovators

13.5% Early Adopters

34% Early Majority34% Late Majority

16% Laggards

Product Adopter Categories

Categories


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$roduct AdopterCategories

Group #1 - Innovators

Innovatorsare the *rst adopters of newproducts.

hey are venturesome + they try new ideasat some ris'.

$ d t Ad t


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Group #2 Early Adopters

Early adoptersare guided by respect.hey are opinion leaders in their communities

and adopt new ideas early but carefully.

$ d t Ad t


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Group #3 Early a!ority

Early majorityare deliberate.Although they rarely are leaders, they adopt

new ideas before the average person.


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Categories

Group #4 "ate a!ority

Late majorityare s'eptical.

hey adopt an innovation only after amaority of people have tried it.


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Categories

Group #5 - "aards

Laggardsare tradition bound.hey are suspicious of changes and adopt the

innovation only when it has becomesomething of a tradition itself.


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Change of Identity

Di/cult to change the perception of

customers

0aintaining or e!panding the present


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Product Differentiation

o dierentiate a company from the other

#o two retailers or manufacturers are

li'e, for factors li'e price, %uality, physical


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$ositioning refers to the image of a

company relative to its competition in the

mar'et1place

same consumer business is called

competition


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According to the theories presented by

2nee and )alters, product dierentiation

can happen in two ways..


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3irst, the brand attempts to changes

the attitude of its customers towards it.

&econd, the brand can present itself to


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People Involved in PD

0ar'eting team

Analysis the current trend in fashion

and factors which will eect the

sales


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Designers

$lays around with new te!tures,

colors, silhouettes, and fabrics based


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0erchandisers

hey develop range of garments

which are in sync with production


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&upply chain

&upervises the product range in

conte!t of material procurement


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Garment technicians

De*nes the details of types of

stitches, seams, fusing, thread, and


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Global sourcing is a strategicsourcing strategy that eectivelybroadens the scope of theprocurement process to include

companies that operate in othercountries. &trategic sourcing is theinternal business process used tomanage the bidding and vendor

selector process. $rocurement isalso 'nown as purchasing andrefers to the laws surrounding fair

and e%uitable biddingopportunities.

Global sourcing


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&'illed services such aspurchasing, engineering,information technology

professionals and consultantsare a growing area of globalsourcing. he level of s'ill and'nowledge held by these

professional allows them toprovide high %uality services totheir employers

20 FM Product Identity

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