The Importance of fashion marketing and an example from fashion industry: Vakko

For many centuries, fashion has been an important concept for humanity due to its close interaction with the milestone events of the history. As a result of global trends and technological developments in our age, fashion has acquired a more dominant role in today's world. Also, firms operating in fashion industry have recognized how effective marketing is so as to strength their market positions by gaining competitive advantage against competitors. Thus, fashion industry has attracted new investments day by day and has become an evolving industry with a very dynamic nature. Despite its increasing importance, regarding current literature, fashion marketing has just become an area of study for many researchers. Besides, many firms could not yet recognize the fact that design and marketing should go hand in hand in fashion industry. Since fashion is a very dynamic phenomenon by its nature, a close cooperation of production and marketing processes is required in order to give an instant response to the changes in fashion. Today's society gives direction to fashion by mentioning their desire rather than following a dictated fashion. Fashion firms have understood they can influence society as long as they understand consumer preferences and adapt themselves to consumer wants. This fact also stimulated the importance of marketing in fashion industry. It's obvious that firms should have high quality products with many creative and innovative features. However, beside this necessity firms believe marketing function has an inevitable role in order to survive in today's highly competitive environment through making their products gain acceptance and to become a fashion. That is why today's leading fashion firms have differentiated their products from others' in terms of high quality and design and also achieved to provide products to consumers in an effective way by benefiting much from marketing function.