FASHION MANAGEMENT
Obiettivi formativi
The Objectives of the course will aim to give our students: • the skills to identify, understand and manage the main tools to drive a fashion business in an innovative way • the knowledge and capacity to understand the dynamics of fashion enterprises in the new scenario that the COVID-19 generated with impact on a macroeconomic level and on the customer behavior one • the capacity to understand priorities so as to be able to manage the business with a “systemic” approach between Brand, Retail, Organization, Customer Experience Strategy, Digital Revolution and Sustainability • Independent thinking: being able to think out of the box, recognize innovation and avoid a silo-mentality approach • Communication skills: learning how to recognize brand values and communicate them with coherence and effectiveness
Risultati di apprendimento attesi
Please see previous point
Contenuti Del Corso
Fashion and Luxury successful brands stand for many different things in the minds of customers, and they all succeed in generating consumer interest, advocacy, even passion and, above all, value for the companies.
This course focuses on strategic and creative management of Brand, Retail, Customer Experience: 3 related essential and strategic tools in the luxury/fashion business indissolubly linked with the digital revolution and the Sustainability needs.
BRAND
Brand as the most tangible of intangible assets: in the Luxury/Fashion Business they share between 30 to 80% of the total Company value. Where is the value? Which are the main contributing factors in the Brand valuation? How to maintain and increase the value of this fundamental asset? what are the fundamental elements that determine the differentiation of brand positioning and consolidate their value over time? Brand values as the Company commandments. The Brand Identity Model.
RETAIL
Retail strategy: different options for different objectives. An overview of different retail models in the luxury/Fashion market. Retail Management, Retailing indices. Retail as a communication tool. Retail innovation.
CUSTOMER EXPERIENCE
Customer Experience Management (beyond customer satisfaction): From Traditional Marketing to Experiential Marketing,
Emotion as main human behavioral driver. Measuring the Customer Experience: the Customer Experience Audit (providing outdoor training and activities). Building the Customer Experience in all the touch-points Brand/Customer. How to build and manage it related to Fashion Companies, Maintain and enhance the Customer Experience through Benchmarking the Customer Experience with the “Out of the Box approach” to maintain an always innovative and surprising Customer Experience. What the digital transformation is really changing in the expectations of Luxury/Fashion customers? And how are Brands designing the experiential customer’s journey?
THE FASHION MARKET
The Fashion Pipeline
Fashion seasons and turnover
TRENDS: how trends start
Style: creativity and inspiration as fundamental elements in the fashion business
FASHION COMPANIES ORGANIZATION AND FUNCTIONS: who does what in a fashion company.
COMMUNICATION: from the product oriented to the lifestyle-oriented communication in the Fashion/Luxury industry. The role of DIGITAL REVOLUTION in the Fashion/Luxury industry: impact on Retail, Communication, Customer Experience.
ABOVE THE CRM, CLIENTELING:
How L/F Companies connect and manage the relation with their most important assets: the Customers.
GO TO MARKET: How to manage the complex fashion supply chain from Fashion Show to Customer’s wardrobe.
CONSUMER BEHAVIOR: why people buy things they don’t need?
SUSTAINABILITY and CSR in the Fashion business.
CASE HISTORIES, Conferences form Top Manager leader Fashion Companies are planned during our course
Testi Di Riferimento
LESSONS SLIDES and MANDATORY BOOK
Stefania Saviolo Erica Corbellini
Managing Fashion and Luxury Companies
ETAS ©2009
Papers, Articles and Updated L/F Mkt Data will be provided with Focus on Innovation and Evolution of the L/F Market.
Other Suggested Books (if you really loved the matter here’s a way to deepen it):
Bernd Schmitt
Customer Experience Management
New York Free Press ©2003
Mark Tungate
Fashion Brands: branding style from Armani to Zara
KOGAN PAGE © 2005-2008
Tony Hines Margaret Bruce
Fashion Marketing
ELSEVIER LTD © 2007
G. Zaltman
How Customers Think: Essential Insights into the Mind of the Market
Harvard Business Press ©2003
Shaun Smith
Managing The Customer Experience
Turning customers into advocates
FT Prentice Hall ©2002
Harriet Posner Marketing Fashion -Strategy, Branding and Promotion- Laurence King Publishing ©2015
Metodologie Didattiche
traditional lecture
V- team works
V- role-playing or other kinds of simulation
V- seminars
V- presentations and assignments
V- other (outdoor activities, videos, web browsing, etc)
Class sessions will combine: lectures, videos, exercises, web browsing, outdoor activities (in Rome Fashion/Luxury stores), industry speaker perspectives, case histories and class discussion on lessons topics.
Groups of 5 to 7 students will be assigned to develop a Fashion Brand study and presentation deepening the different subjects developed during our course. All students will be required to participate to the final presentation (20 to 25 minutes for each Brand) that will be held during the last days of our course.
Modalità di verifica dell'apprendimento
Grade will be determined by the following:
Team Work Assignments,
Outdoor Activities, class and case participation 33%
Final Exam (written) 67%
PLEASE CONSIDER THAT ONLY THOSE WHO HAVE REGULARLY ATTENDED THE LESSONS WILL BE ADMITTED TO THE EXAMS AND THAT REGARDLESS THE AVERAGE SCORE, YOU NEED TO OBTAIN A SUFFICIENT GRADE IN THE WRITTEN EXAM TO PASS. Students who do not meet the minimum requirements to qualify as Attending Students, as well as those exceptionally admitted as Non-Attending Students in accordance with the provisions set forth by LUISS regulations, will be assessed exclusively on the basis of their final examination performance (100% of the final grade).
PLEASE NOTE: At the discretion of the teaching team, the examination format for Non-Attending Students may differ from, or include additional components with respect to, the assessment structure adopted for Attending Students.
Criteri per l’assegnazione dell’elaborato finale
Particular interest in Fashion and Luxury.
A curriculum including deep knowledge of business economy, marketing and a very fluent English (both written and spoken) is expected.
An excellent final mark in Fashion Management and Luxury Management will be preferentially considered as well as the attendance to an internship in a Fashion or Luxury Company.
Settimana 1
Objectives of Fashion Management Course. Our Method. Our Expectations (and Student Expectations). Behavioural Rules. Outdoor Activities. Interactive Activities. The Team works. The Exams.
What is Fashion. The button Panel. Definition of Fashion. The Fashion Cycle. Fast Fashion. The Fashion numbers and the watershed that marked the evolution of the last years. Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos.
Settimana 2
The button panel.
The BRAND
Definitions, Brand as an asset, Political and cultural importance of Brands. Brand Equity. Brand equity valuation. Brands in Fashion.
The Brand Identity Model. Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos
Brand Positioning and Brand values. Brand DNA in Fashion. The Brand Positioning Statement.
Interactive exercises on Branding in Fashion.
How brands behaved during the Covid-19 crisis: different behaviors generated different reactions among customers, discussion.
Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos
Settimana 3
CUSTOMER EXPERIENCE MANAGEMENT
CX and Experiential MKTG
From Traditional MKTG to Experiential MKTG, The Brand and Customer Expectation Framework, From Traditional Customer Satisfaction to Customer Experience (Bernd Schmitt), CEM Staircase, The Experiential Curve, Driving the process successfully: from Small think to Big Think (Bernd Schmitt framework). The CX Design Process. Five Senses Involvement. Measuring the CX effectiveness.
Settimana 4
OUTDOOR ACTIVITIES (possible extended lesson in different time schedule)
Audit focusing on the Customer Experience adopted by main Fashion Luxury Brands
The delivery process in C.E. N.B.: Please note that the outdoor activity will be subject to the evolution of the pandemic situation and to the health safety rules in force at the time of the activity itself.
CUSTOMER KNOWLEDGE: CRM, Clienteling, etc. The many diversified activities to know, connect and engage in a brand-advocacy relation the different customers of a Fashion/Luxury Company. Part Two
CUSTOMER BEHAVIOUR, Processes, Benefits, KPI's. Customer Care, Data Collection, Data Usage. Customer Behaviour after Covid-19
Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos
Settimana 5
COMMUNICATION in Luxury and Fashion
Past, Present and future. ATL, BTL and TTL, PRINT, POS, DIGITAL communication (Website ADS Formats, : Digital Campaign on Search Engine, SEO, SEM, Social Media Formats, Digital and Social Media Metrics, etc). The Media Plan, the KPI's in ADV, From Content MKTG to Content Strategy
Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos
Settimana 6
GO TO MARKET in Luxury and Fashion Industry.
Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos
Settimana 7
RETAIL: the 10 different store Typologies,
The 7 steps process to install a store.
The evolution of Retail in the Next Normal -case histories and discussion
Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos
Settimana 8
MERCHANDISING, PLANNING, CONTROL and PRICING Make to Order and Make to Stock models, Pricing, The Merchandising Greed, The Mark Lee Triangle, Pricing in Wholesale and in Retail, Different Categories and different Pricing approach.
L/F Top Manager Lectio Magistralis (if possible)
Settimana 9
SUSTAINABILITY IN FASHION
What is Sustainability (3P), How a sistemic and data driven approach has to be adopted while forging your opinions and map out your strategy. The complexity of the Fashion Pipeline as an obstacle to control the true cost of the Fashion system; Greenwashing vs Sustainable Practices; the contradiction of the Fast Fashion business model towards Sustainability; The drivers of the Green Revolution; the Reshoring positive impact on Sustainability and the risks on Social and Welfare impact of current suppliers; Mistakes and risks in the Luxury Fashion pipeline impacting the entire industry (and Made in Italy); Legislation MSA 2015; Legislation REACH Regulation EU; Legislation legislative decree 254/2016 ITA; UN Soft Law Guidelines; CNMI (Camera Nazionale della Moda Italiana) Principles on Sustainability, Eco-Toxicological Requirements, Green Carpet Fashion Awards. The G7 Fashion Pact; The importance of Made in Italy in Sustainability; The (surprisingly) Most Sustainable Fibers; Relevant Measures on Sustainability. Does the L-F slowdown bring an acceleration in sustainable Fashion practice or not? -Discussion.
Lecturer’s presentation slides will be provided as well as, possible papers, links to websites/blogs/videos
Settimana 10
What's next: Updating mkt situation with news on Innovation, new paradigmas in Fashion Industry.
Group Works Presentations
Settimana 11
Group Works Presentations
Settimana 12
Group Works Presentations and explanation of the exams procedures (demo)