Dongdaemun Style of Fashion Marketing

  “Fashion fades, style is eternal.” +

  A fashion legend Yves Saint Laurent said. Unlike his discussion, however, fad has a short life-cycle, but fashion has a long life-cycle, so consumer preference for a fashion product continues for a while. Of course, style is a keyword used when some of fashion products lead to standardized customs like his discussion.

  As such, fashion marketing is a business activity based on meaning like the compound word of ‘market’ and ‘ing’ for fashion products. Be the matter what it may, marketing is different from ‘selling’, one of the business activities in the market. In particularly, it’s not only to sell products that are already manufactured in the market.

  In other words, it is correct to say that fashion marketing is not just selling, but producing. That’s why fashion business companies are often interested in surveying and analyzing consumer needs and wants. Philp Kotler also had the same view. 

  “Marketing is becoming a battle bases more on information than on sales power.” ++
Marketing of Dongdaemun fashion products seems to have achieved sustainable management performance for a long time under these strategic tools. Lots of fashion companies that produce and supply luxury fashion products, SPA brands, or other fashion products have marketing strategies, mostly as ‘manufacturers,’ but Dongdaemun fashion marketing is conducted by ‘wholesalers.’

  Over 30,000 wholesalers in the world-class Dongdaemun Fashion Cluster are performing marketing strategies by supplying new and diverse fashion products through a business system of the supply-side management.

  The wholesalers in Dongdaemun market have 3 or 4 designers, including freelancers, respectively, and their marketing performance is improving thanks to the creative work of more than 100,000 Dongdaemun designers, as a whole.

  In addition, Dongdaemun fashion marketing continues a new merchandising strategy every three days for fashion products that are custom-made in partnership with numerous sewing factories in Gangbuk, Seoul. It should be noted that even if Dongdaemun wholesalers are working in the market, they continue their marketing strategy in cooperation with the supply-side sewing factories.
 
 
-Some of the popular Dongdaemun fashion items we exported last week, seoulclick.com-

  Therefore, we can say that Dongdaemun style of fashion marketing is not a selling, but a production activity. The starting point of those marketing strategy depends on what and how it is produced. 
As we all know, the market is, on the one hand, a place where producers and consumers meet and exchange commodities, and on the other hand, it is also a space of life where people on the market exchange valuable information about product and price, and so on.

  Based on the valuable market information obtained from ‘the market,’ Dongdaemun wholesalers often decide what fashion products, when, and how much they manufacture and sell. That’s Dongdaemun style of fashion marketing.

  Nowadays, many consumers at home and abroad no longer prefer fashion products that are mass-printed with automated machines. Rather, they prefer their own fashion style products for personalization.

  It is true that the products from the global SPA brands do not have ‘newness and its diversity’. Luxury fashion products are also produced by the supply side, and because they lack in variety, consumers are at a loss finding items that match their style. All of them have forgotten the proverb “There is no accounting for tastes.”

  Thanks to its characteristics as a product of newness and diversity, Dongdaemun fashion products are not only well suited to the consumer’s body, but are also able to adapt quickly to trend changes which are sold well. In fact, many domestic and foreign buyers can easily select and purchase fashion items that retailers and consumers want at Dongdaemun market.

  “Someone said that the company that makes the best products becomes rich, and the company that makes the first products can change the world. We will try to develop and ship the first product even if it takes a long time.” +++

  It is the management commitment of graphic designer Yang Jun-sik, CEO of a small and medium-sized company that pioneered overseas markets by developing new products. Fortunately, Dongdaemun designers, wholesalers, store-free producers, and many sewing factories are rapidly developing and supplying all kinds of new fashion products. 

  We are sure that Dongdaemun style of fashion marketing will continue its global competitive edge.

+ The lives of 50 Fashion Legends, Fashionary, 2018, p.47.
++ Philip Kotler is an American famous marketing author 
+++ https://bit.ly/3hHCV2m
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Bong Sul (Advisor, SeoulClick)
 Read more: Bong (Bong Sik) Sul, Dongdaemun Style, ebook.kstudy.com, Seoul, 2019. 

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