What You Will Learn in This Lesson
When you shop for clothing, you probably think about who will wear it, but you may not often think about who actually pays for it. In marketing, however, this difference can dramatically affect the size of a market. The recovery wear industry we will explore today has been growing rapidly by offering a new type of value—clothing designed to support recovery, relaxation, and better sleep. One of the biggest reasons for this growth is gift purchasing, where the person who buys the product is different from the person who uses it. Recovery wear has become a popular gift for occasions such as Father’s Day, Mother’s Day, birthdays, Christmas, and employee appreciation programs, allowing companies to reach not only the people who wear the products but also their families, friends, and employers. Successful marketing is about much more than selling a product. Companies must think about when people buy, who makes the purchasing decision, and what emotions motivate the purchase. In this lesson, we will use the recovery wear industry to learn about market creation, pricing strategy, branding, target marketing, and gift purchasing. By the end of the lesson, you will understand how identifying both the buyer and the user can help businesses create entirely new markets and achieve long-term growth.
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