Luxury Fashion Industry

In marketing, it pays to be creative. Marketers utilize creativity in marketing to move their products and brands high in the market. One of the industries which have experienced a lot of growth in recent time is the fashion industry. Bohdanowicz puts it that technology is to be credited for the rise of the fashion industry in the world. Given that changes in fashion are occurring on a daily basis or regularly, the credit is on the kinds of creativity people are employing. Essentially, technology is at the heart of creativity, it helps assist the repertoire of knowledge in individuals in coming up with new materials or designs to wear.

The fashion industry is not all about modeling; rather, it entails the new designs people use in modern days. As noted, this industry has witnessed enormous growth in recent times. One cannot compare the outlooks of people in today’s world with how people were five years ago. The change is enormous and since it is hard to slow down, the only way is to keep up with it. By and large, the fashion industry is new; however, it has developed itself in a very large way. According to Hines, the fashion new forms of marketing are to be credited for the status it has gained in the recent past. It has become dynamic, and the prospects are that this industry would continue to gain the much needed competitive advantage in the world competitive market. Luxury fashion will always continue to add value to the businesses considering the new dynamics in this competitive market, especially with the introduction of new forms of advertising, the new media and the use of computer integrated technology.

Welters puts it that India and the United Kingdom are two leading countries in the world who have taken the fashion industry, especially the luxury fashion industry seriously. This is because it has gained enough fame to drive their economies forward. On the same subject, Boroian brings an understanding that India has a strong basis on designs, and this puts the country as one of the leading nations in the world to adopt the fashion industry. This also applies for the United Kingdom where the industry is gaining impetus as the world progresses.

Perhaps, the concept of international trade, international relations and globalization has helped make the industry gain new status. According to Okonkwo, the trends in countries such as China, India, UK and Russia promise that this industry would be a force to reckon with in the near future in terms of economics. This industry is unique in all sense, and this is because it makes everything else look unique. If a house looks different and is sparkling, it is because the design used is good. India and UK are keen on improving the levels of fashion. The focus is making fashion as a major economy boost for the countries, just as it is for tourism. However, there are comparisons and contrasts that are notable in the use of fashion in India and UK. Majorly, these similarities and differences in the use of luxury fashion and their marketing strategies are based on the cultures and natures of the two countries.

Bye writes of the concentrations that are given by the designers and the makers of fashion. For the designers, essential in their work is to have a planned study on what can sell and what cannot sell. If something can sell when introduced to the population, then, designers do not shy off in giving it a try. The focus is usually on making the fashion get a following or what Chadha refers to as a cult. Cult followership means unmatched and uncontrolled followership. It means having groups of people who want to maintain a certain way of doing something despite emergence of new forms of doing the same thing in the world. When certain marketing strategies work, a business is bound to maintain it in the long run.

In this study, the focus is on luxury fashion. India and UK are put as two nations whose luxury fashion can be used as case studies. In this study, cross sectional survey is utilized in establishing the feelings of the British and the Indians about this industry. Correlation and descriptive statistic analysis are used in this study. The scope of the study uses the United Kingdom and India as nations of focus. Primary and secondary data will be used in coming up with the research study; however, mostly the secondary study would be employed for the purposes of maintaining quality of information gathered. For data processing, SPSS software and Excel program was used while descriptive statistics and correlation analysis were done.

Research objectives

Luxury and fashion are items that denote a comfortable lifestyle. When a person gets a new house, a new car and a new dress, it means that this person wants to improve their lifestyle. The rate at which this issue is addressed in modern days is different. Some fashion luxury businesses have set to adopt new forms of management; for example, computer integrated technology. Others are still maintaining the old status of doing business. The following are objectives for this study:

1. To find out what characteristics, opportunities, barriers to growth and challenges shape the luxury fashion industry in the UK and India.
2. To find out the marketing strategies employed for promoting the luxury fashion industry in India and the UK.
3.  To find out how effective the marketing strategies are in the luxury fashion industry in India and the UK.
4.  To find out the similarities that are present in the luxury fashions in United Kingdom and the luxury fashions in India.
5.  To investigate the differences existing in luxury fashion in United Kingdom and India.
6.  To use the findings to recommend to the fashion industries in the two countries on how to add value to it.
7.  To use information in improving the status of fashion industry in India.

Research questions

Both quantitative and qualitative studies were used for this study. The use of quantitative research methodology was for the purposes of getting real statistics and facts regarding the comparisons existing in the use of luxury fashion in United Kingdom and India as nations of focus. The following represents the research questions for the quantitative studies:

1. What are the characteristics of luxury fashion in India?
2. What are the characteristics of luxury fashion in United Kingdom?
3. What are the opportunities present for the growth of the fashion industry in India?
4. What are the opportunities present for the growth of the fashion industry in UK?
5. What are the barriers to growth for the fashion industry in UK and India?
6. What are some of the marketing strategies that have been used in selling the luxury fashion businesses in the United Kingdom and India?
7. Do you think the marketing strategies mentioned are effective or ineffective?
8. How the luxury businesses in the United Kingdom compares with the luxury business in India?
9. What differences exist in luxury businesses in United Kingdom and India?

Fashion is regarded as a component to improving lifestyle; for example, in their dresses, in their housing, in their music and in the cars they drive. On the other hand, luxury means living beyond the norm. Therefore, when combined, luxury fashion means a kind of fashion that goes beyond the norm. According to Kawamura, fashion designs were not considered as important issues in the past. People used to live by their status, by the dictates of their cultures and by trends. However, today, people are willing to contravene the cultures and the living standards to include luxury fashion.

Cheng introduces the concept of innovation in luxury fashion, and as would be discussed in this paper, technology in fashion designs and luxury fashion is part of these innovations. A part of technology based fashion management is use of online retailing. More importantly, marketing using the social media has become a must not only in fashion management, but in all forms of business management and marketing. According to Jones, the social media and a number of other forms of emerging media can never be ignored when it comes to marketing. They are giving new impetus in marketability of goods and services in the world.

In this discussion, the literature review would look at information that relates to fashion and luxury fashion in United Kingdom and India. The concentration is on how these two nations have compared in the past and present in terms of marketing strategies for the luxury fashion industry. Major concepts of luxury fashion management such as theoretical and conceptual frameworks are discussed at length; as well as new forms of marketing.

Fashion

Globally, the fashion industry is regarded as an industry which has great potential. According to Ticineto, this industry wasn’t vibrant in marketing itself, and hence the huge decline in past years. However, Pomazan has noted that the essence of qualifying this industry as a social industry has helped in giving the industry some impetus in the world. The potentiality in this industry is incomparable in the world, and it can only be said that in few years to come, this industry would be a sector to reckon with. According to McCracken (2006, p.25), this industry has really found a means to put itself out as a competitive industry capable of giving a nation a new economic status.

By definition, the fashion industry represents modernity in all senses. For example, when housing style changes in a country, it can be said that it is a new fashion, and so is when people start dressing differently. According to O’Byrne (2009, p. 16), more and more people are willing to make changes in particular aspects. The way people used to live in the past is no longer fashionable, and this therefore gives people a new room to reinvent themselves. On the same, Miller (2011, p. 39) notes that the change in living standards in the world has given the fashion industry a way of reinventing itself in the world. There are new potentialities in this business.

There are several components of fashion. Popular components include housing, clothing, the cars and general living standards. To some extent, music has come as part of fashion in recent times. There were some types of music that were synonymous with the past, but today, there are totally new forms of music. Romero (2012, p. 95) notes that some types of music such as hip hop have remained over the years as popular. However, Axford (2004, p. 201) puts it that even with old popular types of music, there are some elements that are bound to change over time.

Steele writes about some of the things which are bound to accompany fashion in the world. Fashion has to be accompanied by new things; for example, if something was done in a particular way, fashion means changing it to a new level. For example, people were used to flat shoes, but of late, high heeled shoes have become the norm. This is a change of fashion that can never be wished away. On the same, Richard gives that in changing the way people live in the world, the concept of culture has to be included. There is no way culture can be left out when determining the kind of music, cloth, house or cars people drive in the world. The concept of culture is diverse because there is the old-people culture, the female based culture, the youth culture and the male based cultures among others.

Writing on the notable concepts in fashion, Craik gives that the trends in the world dictate a lot. For example, it is no longer fashionable to cling to the cultures which only tended to put people in confined status. The forecast is that there would be no uniform culture in the world regarding fashion in the new future. People are bound to change a lot as people try to copy what others are doing in the world. More importantly, what is likely to dictate how people will change over time is the need to change with the trend and more importantly the behaviors of the consumers in the world.

There are bound to be changes regarding fashion in the world. The costing in this industry is bound to dictate a lot on the status of fashion in the world in the near future. Some of the countries which have maintained consistencies in world are like Australia and a number of Asian countries. As noted by Mehta, it is the quality issue that is bound to change.

Fashion can be analyzed in several ways. Fashion can even be looked as a philosophy. By definition, fashion as philosopher looks at the way fashion can be something to be studied and which can form a special part of growth. On the same, Arnold notes that it is possible to look at fashion as a philosophy if it is analyzed on the manner in which it has myriad influences as well as manifestations in the world. Majorly, this forms a major area of study in the world. According to Palmer, it is also possible to look at fashion as something controversial. For example, some fashion designs are purely based on the kind of cultures practiced in a particular region. This way, it means that the major influence of fashion is culture and other associated forms of beliefs and norms in a region.

Fashion is something which can sell itself. However, according to Tungate, fashion has to be marketed for it to be recognized. If something recognized as fashion is not put up in a marketable manner, then, it will not gain the necessary commendation or good regard. For example, people have to wear clothes so that they are seen. On the same, Tucker writes that fashion has become part of study in a sense that it has to be projected in the world in beautiful manner. Freese makes a realistic argument about fashion and notes that everything in the world is like fashion. This is because the world is known to always come up with something new. If new things mean fashion, then, everything in the world is fashion.

It is important to look at fashion as a management concept. According to Sennett, fashion has helped in dressing modern forms of democracy. For example, United States is recognized by a particular form of dressing and music or dances. However, many people tend to associate fashion with modeling. As written by Quealy, modeling forms a very small portion of what fashion is in reality.