Retail Marketing

The boutique that I visited had a racetrack layout allowing the consumer to take a look at what is in store. Not too many styles of the same garment were displayed on the rack adding to the consumer's perception of exclusivity. During the time that I was in the store, employees were unpacking inventory so there was a lot of negative space on the racks. The color scheme of the store was neutral with abstract dress forms and vintage mirrors used to decorate the space. It had a very relaxing and effortless vibe. No loud distracting colors were used to distract from the clothes. Everything from decor to clothes displayed for sale shared a common thread.

Audience

I liked this activity because it gives me an opportunity to understand why certain content is successful while other posts are unsuccessful in terms of response and interaction. I am not as active on social media that much simply because I get distracted by it while I am in school but I often update my blog and Facebook page often when I do have content to share. 

Product Sample (Miniature Clutch)

For my product sample I made a variation of my clutch in the size of a coin purse or wallet using a different fabric. The cost difference in production is shown below. 

.25 of fabric (7.99)                           $1.99

Trim                                                 $0.30

.25 hours labor @ 9                          $2.25

Total Production Cost                        $4.54

Profit at 30%                                       $1.31

Total cost plus profit                         $5.85

Estimated retail price                       $12.00

Mockup

My bag design is an evening envelope clutch. Below is my production costs based on the fabrics selected. A quarter of a yard of fabric will be needed for the clutch. I multiplied the total cost plus profit by two in order to come up with the suggested retail price in order to cover the cost of production when selling to wholesalers in addition to packaging the product.

.25 of fabric (18.85)                           $4.71

.5 hours labor @ 9                              $4.50

Total Production Cost                        $9.21

Profit at 30%                                       $2.76

Total cost plus profit                         $11.97

Estimated retail price                       $25.00

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.25 of fabric (34.95)                                $8.74

.5 hours labor @ 9                                  $4.50

Total Production Cost                              $13.24

Profit at 30%                                           $3.97

Total cost plus profit                               $17. 21

Estimated retail price                              $35.00

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.25 of fabric (24.95)                                    $6.24

.5 hours labor @ 9                                       $4.50

Total Production Cost                                 $10.74

Profit at 30%                                               $3.22

Total cost plus profit                                   $13.96

Estimated retail price                                  $30.00

Research Trip

On my research trip I found that various brands have different standards when it comes to sizing which is affected by perception and their target customer. Various companies have standards for fit models that are unrealistic in comparison to the fit of a variety of body shapes. When garments are incorrectly marked, it can impact consumer a positively or negatively. The identical items that I tried on were actually similar and didn't deviate from their marked size.

Teen Vogue X Parsons

Production Costs:

In this assignment, I created a bow from nylon mesh and trim inspired by my Pinterest board. I learned that it is important to understand what goes into creating a product and not second guessing yourself when it comes to establishing a price. It is important to not only consider perceived value but also calculate accurate pricing so you won't sell yourself short. As a designer, you must know how to source and make the most profit on what you create.