FIDM President Tonian Hohberg first found Fashion Institute of Design & Merchandising (FIDM) in 1969. It is now one of the top 20 fashion schools in USA. FIDM’s mission is focused on curriculum that incorporates creative and leadership skills to produce graduates for the global industries of Fashion, Arts, Design and Entertainment. FIDM, 2013) The essay below emphasizes on how FIDM positions itself in the education industry. Market Segmentation The strategy of dividing the market in homogenous group is known as segmentation.
Without marketing segmentation, companies or education providers such as FIDM would not be able to devise a market strategy as they do not have a focus on who their target market would be (Bhasin, 2011). FIDM’s market segments are as follows: |Segmentation Variables | |Personnel |Staff are knowledgeable and supportive | | |FIDM provides a staff member that is dedicated to assisting FIDM’s International Students with their visa | | |needs | | |FIDM offers numerous support services including orientation, student activity meetings, and cultural | | |exchange events. |Services |Provides financial aids or scholarships for those who needs finance assistance | | |Graduates may have an opportunity on joining ‘Project Runaway’ | |Image |One of the top 20 fashion schools in USA | | |Ranked #2 in top fashion schools in 2011 | | |Produces notable graudates such as MoniqueLhuillier | Marketing Mix The 7 elements in the marketing mix can be improved using the positioning strategy so that FIDM could be more successful. FIDM’s target market is ‘Undergraduates’.
FIDM could give 2 days trials for new students to explore how the fashion world works and this would encourage them to study in FIDM (Kottak, 2004). Price |- Price for undergraduates who are taking 45 units as of 2013/2014 ranges from $28000 – $33000 | | |- Prices for postgraduates courses are ;gt; $ 42,000 | | |- Prices varies depending on majors | |Product |- Students learn the hands-on, technical skills such as fashion sketching, creative design along with theoretical | | |skills necessary to succeed in this incredibly creative and exciting field | | |- Students get the real-world experience and the guiding hand of talented industry professionals | | |- Students get to employ business practices in the fashion ; textile industry | | |- Students have to apply, analyze ; forecast trends for upcoming seasons | |Place |- FIDM has 4 campuses :- | | |Los Angeles, San Francisco, Orange County, and San Diego | |Promotion |- By word of mouth, social medias such as Facebook ; Twitter | | |- By producing graduates who are known in the fashion world such as Monique Lhuillier | | |- By appearing in reality tv shows under ‘MTV’ | |People |- Friendly, helpful, knowledgeable, supportive | |Process |- FIDM offers various of majors, which take different time frames to finish | | |- Both Associate of Arts (A. A) and Associate of Arts Professional Designation takes 2 years to complete | |Physical Evidence |- Good atmosphere | | |- Air-conditioning | | |- FIDM webpage | | |- FIDM campuses in LA, California, San Diego ; Orange County | ConclusionBasically, FIDM has successfully positioned themselves in the market for fashion school as they have produced a number of well-known people in the fashion world. They not only focus on Fashion Designing but also offer a variety of courses that relate to the fashion industry such as Jewelry Making ; Merchandising.
It is strong in its product differentiation and image differentiation focusing on their specialties, which separates them from its competitors. However, FIDM must continuously improve on their marketing mix in order to keep up with the strong competition from different private fashion schools. References Bhasin, H.
(2011, February 15). What is Positioning. Retrieved May 8th, 2013, from http://www. marketing91. com/positioning-2/ Fashion Institude of Design and Merchandising. 2013) About the University.
Retrieved from: http://fidm. edu/en/about/ George, R. (2004). Marketing South African Tourism. Oxford University Press, 10(2),1-10. Kotler, P. , Burton, S. , Deans, K.
, Brown, L. and Armstrong, G. (2013). Marketing (9th edition). New South Wales: Pearson Australia. Kottak, C. (2004). Will Consumers be Willing to Pay More When Your Competitors Adopt Your Technology.
Journal of Marketing, 75(9), 1-17. ———————– High Price Low Price • International Fashion Academy Courses mainly focuses on Fashion Design Offers courses besides Fashion Design • Parsons, The New School For Design Gap • Academy of Art University