Marketing Jeans in Ecuador.© BrainMass Inc. brainmass.com October 9, 2019, 7:40 pm ad1c9bdddf
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On the demand side, exporters and strategic planners focusing on apparel and clothing accessories in Ecuador face a number of questions.
Research the questions:
Which countries are supplying apparel and clothing accessories to Ecuador? How important is Ecuador compared to others in terms of the entire global and regional market? How much do the imports of apparel and clothing accessories vary from one country of origin to another in Ecuador? On the supply side, Ecuador also exports apparel and clothing accessories. Which countries receive the most exports from Ecuador? How are these exports concentrated across buyers? What is the value of these exports and which countries are the largest buyers?
With the globalization of this market, managers can no longer be contented with a local view. Nor can managers be contented with out-of-date statistics which appear several years after the fact. Icon Group has developed a proprietary methodology, based on macroeconomic and trade models, to estimate the market for apparel and clothing accessories for those countries serving Ecuador via exports, or supplying from Ecuador via imports. It does so for the current year based on a variety of key historical indicators and econometric models.
The total level of imports and exports on a worldwide basis, and those for Ecuador in particular, is estimated using a model which aggregates across over 150 key country markets and projects these to the current year. From there, each country represents a percent of the world market. This market is served from a number of competitive countries of origin. Based on both demand- and supply-side dynamics, market shares by country of origin are then calculated across each country market destination. These shares lead to a volume of import and export values for each country and are aggregated to regional and world totals. In doing so, we are able to obtain maximum likelihood estimates of both the value of each market and the share that Ecuador is likely to receive this year. From these figures, rankings are calculated to allow managers to prioritize Ecuador compared to other major country markets. In this way, all the figures provided in this report are forecasts that can be combined with internal information sources for strategic planning purposes.
A "major" market is defined as a country where Ecuador represents a substantially large share of either imports or exports. For each major country exporting to Ecuador, one can thus observe how important Ecuador is to that exporting country compared to other countries of the world. Chapter 4 does the same, but for exports of apparel and clothing accessories originating from Ecuador, for each major country of destination. In doing so, one can discover the share that Ecuador has in each major market; this share value is often used as a measure of competitiveness for Ecuador. In all cases, the total dollar volume and percentage share values by major trading partner is provided.
You need to research Ecuador's Dress:
The Ecuadorians have a distinctive type of dress code, made up of all the different cultural diversities that stay in the regions of Ecuador and the Galapagos Islands. A major aspect of Indian identity is present in Ecuador. People that are familiar with the native dress can often tell roughly where an Indian is from, based on what they wear.
You can expect to see many distinctively dressed Otavalenos in Ecuador, especially in the Quito area. The men's dress usually consists of a blue poncho, a fedora, or a felt hat and white calf-length knickers. The Shimba (a long braid that hangs down nearly to the man's waist) that dates back to pre-Inca times is a very traditional piece of clothing. In fact the Shimba is so important to the natives that they see it as a symbol of Indigenous ethnic identity. When the indigenous men serve in the Ecuadorian army, they are not required to cut the Shimba off.
The Ecuadorian woman's dress is the closest to the Inca costumes worn in the Andes. A white blouse, a blue skirt and a shawl is usually worn. Jewelry is very important, layers of necklaces of predominantly gold beads, and red coral bracelets are the most common form of jewelry worn by the Otavalo woman.
In coastal regions men usually wear 'Guayaberas' (loose-fitting men's shirt often worn in lieu of a jacket) and women wear light dresses. Foreigners however are expected to dress more formally for business appointments. In the uplands it is best to wear a coat and tie for business meetings. Men should wear a coat and tie even in hot weather, in dark or passive colors preferably. For social gatherings a coat and tie are also in order.
Women dress more conventionally. A tailored-made suit or dress is the most suitable for business meetings. Also, a cocktail dress is very sensible for social gatherings.
You need to research Ecuador's shopping:
Shopping is a mixed experience in Ecuador. From dusty, noisy animal markets to craft markets to sterile, glossy malls, there is something for everyone here. Ecuador offers an interesting collection of products that can be purchased as souvenirs and gifts. Arts and crafts such as weavings, wood carvings, carpets, toys and clothing can be bought all over Ecuador.
Bargaining is a way of life in Ecuador and is totally acceptable in markets and in small shops, but tourist stores usually have fixed prices. Many places and towns in Ecuador usually have a special market day at least once a week. The best place to find a great bargain is in the Province of Azuay, the cities of Cuenca and Gualaceo, they offer a wide variety of handicrafts at very reasonable prices. Quito is generally the best place to buy silver, native woodcarvings, varnished and painted ornaments made of bread dough, Indian tiles, woolen and orlon rugs, blankets, baskets, leather goods, indigenous art and native weapons.
Some interesting goods that are indigenous to Ecuador are the so-called 'Panama' hats, vegetable items, Tagua items and colourful bread dough ornaments. Good quality Panama hats can be rolled up and spring back into shape. Beware of cheap hats in the markets, cheap doesn't always mean it's a bargain. The Otavalo region is famous for its excellent quality textiles which are sold daily. Good quality, cheap leather goods are also a good buy in Ecuador.
Remember that it is not possible to export animal products out of Ecuador and into other countries either. So avoid buying products manufactured from animals. Note that antiques are also difficult sometimes to export. Shopping hours for shopping malls are Monday - Friday 10:00 - 20:00 and Saturdays 08:00 - 21:00. Local stores may have shorter opening hours.
Research your market - Who is interested in buying jeans?
The elder generation of Shuar may also still be seen today with their elaborate facial and body tattoos although the younger generations today dress mainly in comfortable jeans and shirts. These people would be between the ages of 13 to 30, who would have enough money to spend on High end clothing. They target wealthier clientele (kids or young adults), who want quality and brand name products. Their target market is not the average Jack or Jill.
Major customer's are-
? Bootleggers (nationwide)
? Below the Belt
? Off the Wall (western regional chains)
? Easton's in Winnipeg
Their market is vast, competitive and always growing.
There is a lot to notice in this article: You have to research the market and the culture in Ecuador to get a feel as to what you're facing:
Now on to my headliner of the day. How to hem your jeans in Ecuador
So I purchased two pairs of jeans for dancing last week. As my stomach cannot hold any Ecuadorian food (my teacher is convinced that I have parasites) I have lost weight.
And one cannot wear baggy jeans when dancing salsa. So I bought some Ecuadorian jeans. Which are WAY too long.
It is a mystery here why the jeans are so long. The women are tiny. My theory is that they all get them hemmed.
So I took off after work looking for a Sasteria (tailor) and found one on top of this office building. I went in and the oldest man on the planet met me at the door. One look around and I realized that this was a men's tailor. There were suits and jackets everywhere.
Not a puff of pink or women's jean in sight! But he convinced me that he could do the job. (And really I am desperate and have no time to seek an alternative.)
So after some discussion of whether or not he could sew the hem back on so that the pants don't look hemmed (this was accomplished by me asking him to protect the hem-god only knows if he really understood what I was saying) he showed me to the changing room. This was a corner of his shop cordoned off with a see through piece of fabric. Needless to say, I changed faster than I ever have in my whole life and he came in to take the measurements. All of this was accomplished with some haggling over length (I wanted the pants longer than he apparently thought appropriate) and with me using the tu form of verb conjugation and probably insulting him every other word.
Somehow it all worked out. He told me to come back at 6:30 and I left my jeans in his hands. Now he did have plaques all over the walls so I am hoping these are awards for good tailoring and that my jeans will still have a hem and a flare at the bottom. So he will have them ready in 6 hours. In the US I would expect to get a slip of paper telling me to return in a week. Ah the entrepreneurial spirit of Latin America! I am so impressed with service here. Everyone is so helpful.
Who wears Jeans in Ecuador?
In Ecuador they wear lots of different types of clothing. The boys usually wear jeans and a t-shirt. The girls usually wear what their mother's wear. Their mother usually wears long skirts, dresses, and hats. When they go to school, boys and girls wear uniforms.
Research your area:
If you want to buy black market goods such as video cameras, cameras, electrical equipment or simply a pair of jeans you may also shop with the locals at the black market called La Bahia.
The Bahia, is a very big set of stalls selling cheap electric appliances, shoes, clothes and several other imported goods. Located on Ave. Olmedo from Villamil to Chile; is one of the city's oldest market places.
Warning.- Although there are many bargains to be had here look out for fake, cloned articles and preferable on all open markets walk in couples or small groups and be on the look out for pickpockets who frequent these high traffic areas even though the area is well policed.
What could possibly be important about the four Ps, and what do they have to do with this thing called the Marketing Mix? The Marketing Mix is a set of policies for the four Ps that is developed to meet the needs of a company or firm's target market. The marketing mix should be reasoned, and internally consistent. The four Ps are; Product, Place, Price and Promotion. By using variations of these four components you have the ability to reach multiple consumers within your target market. It often takes experimenting and solid market research to creating a successful marketing mix that will increase desired results. The key is to not always depend on "one" mix, the combining and coordination of these elements will be more effective than depending on one. (Kotler, 2001)
A good strategy combines the marketing mix and the target market. The marketing mix is considered the core of a marketing strategy, and can initially be stated in general terms that become more specific as the mix is implemented. All elements of the mix must be compatible with each other and they must be appropriate for the target market. (About, 2006)
As an element of the marketing mix, price doesn't mean a specific price but rather a price policy describing the plan for how specific prices will be set. Price is a powerful tool, and should be set with certain objectives in mind. In the early stages of the product life cycle, high prices may be used in an effort to recover development costs early. Prices may then be lowered or the firm may move on to other markets in the early stages of development. In the early stages of the product life cycle, low prices may be used to rapidly expand the buyer base for the firm's brand, making it more difficult for other companies and products to gain market share. Pricing can be used to indicate quality levels ...
Product that is currently available in the country you live in and you want to market in another country; pricing strategy, a price, and a rationale explaining the price of each of your products. MS Word Document - 12 Pages, 4436 Words, 100 Paragraphs, 11 References