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Fashion Business Management

by gbaf mag
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Fashion Business Management, also called fashion merchandising, deals with enhancing and increasing the brand awareness and value of a particular product through advertising and media promotion. A fashion business manager is usually responsible for coming up with new and creative ways for the promotion of a particular product so that it can gain in popularity in the marketplace. They are consulted by the retailers or other stakeholders in the fashion industry to come up with new ideas for promoting products. The way in which this is done can have a direct effect on how much the product is sold. A manager must therefore have an understanding of all facets of fashion merchandising, so that he or she can best recommend ways to make more sales and get a higher return on investment from their decisions.

There are numerous advantages in aligning one’s career with fashion merchandising. It is one of the fastest growing industries in the world and there are plenty of opportunities for jobs in this field. Starting out as an intern before gaining full-time employment can be a great way to get your foot into the door. This will give you the chance to see if a fashion business is the right career choice for you before making a commitment to it. Internships in fashion merchandising can also give you an opportunity to learn about the fashion industry and gain valuable experience in areas that you may not have otherwise considered.

If you decide to take on fashion merchandising as a full time career then there are several things you need to keep in mind. First, it is important to keep an eye on the ever-changing trends in the fashion industry. Read magazines and watch fashion shows to get an insight into what is trendy and what is not. Learn as much about the fashion industry as you can and educate yourself so that you are better equipped to recognize trends and new styles. With the help of technology it is easier than ever to stay on top of the latest trends and learn what is popular.

A degree in fashion business management will prepare you for management positions in all facets of the fashion industry. You will need to know how to set up an effective marketing campaign to promote the products of a company. You will need to have sound fashion marketing skills and be able to fine-tune them when the need arises. You will need to be able to keep track of the finances of a company as well as understand accounts receivable and accounts payable. A major portion of fashion merchandising jobs requires the use of computers, so having a computer and internet access is a must.

As a fashion merchandising professional you will be responsible for maintaining close relationships with manufacturers of the products you represent as well as with store owners and employees of stores that carry your client’s products. A successful fashion merchandiser is a people person and needs to understand and know their customer base well. They must develop good relationships with employees, management and other vendors to effectively run the business. If you are not personally involved in the day to day operations of a company, you may find that the tasks can become too much to handle.

Another important facet of fashion business management is analyzing the marketplace. You must be prepared to predict what will be popular next and what styles will gain popularity over the next few months. You must develop accurate statistical projections and use this information to affect your own decisions concerning what products to offer and how they should be marketed. Your forecasts are crucial because they greatly influence the way you run your business.

You will also need to work closely with the designers who create the clothes that you represent. The fashion merchandising industry is very competitive and if you do not work closely with your designers you could find yourself out of business before the recession has completely recovered. The best fashion designers will be leaving the industry at the same time as the recession does. Therefore, if you want to be one of the designers that leaves the industry you must be ready to work very closely with your designers.

Last but not least, in order to make a living as a fashion merchandiser you will need to develop excellent marketing skills. If you are a good marketer, you will have a great opportunity to create a successful career in fashion. A large part of fashion merchandising jobs involves networking with other fashion merchandisers. You will get to meet a wide variety of people in the fashion industry and learn from each of them what is popular and what is not. This networking can lead to a successful career and you should make every effort to attend as many events as possible.


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