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Fashion & Textiles > 1.13 Enterprise and Marketing in the Development of Products > Flashcards

1.13 Enterprise and Marketing in the Development of Products Flashcards

1
Q

What is an enterprise?

A

A business that sells products or services to make a profit

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2
Q

Who usually sets up an enterprise?

A

An entrepreneur who has created a new idea or identified an opportunity in the market and takes the risk of putting it into practice

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3
Q

What are some examples of of fashion and textiles enterprises?

A
  • New start ups
  • Online businesses
  • Project businesses
  • Community projects
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4
Q

What is marketing?

A

Developing a product so that it appeals to the target market

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5
Q

What makes a product appeal to a customer?

A
  • Need to be at the right price and available
  • Need to be advertised to create demand
  • Shoppers made aware of new products
  • Sales data analysed
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6
Q

How are products advertised and promoted?

A
  • Websites
  • Social media
  • Online blogs
  • Pop up adverts
  • Promotional events
  • Media adverts
  • Packaging
  • Display boards
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7
Q

What is brand identity?

A

The way in which a business presents itself to and what’s to be perceived by its customers

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8
Q

How can retailers communicate their brand identity?

A

Through a short, easily remembered phrase or strapline that is often used by organisations or retailers to communicate their brand identity

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9
Q

What should companies be able to identify?

A

A customers:
- Age
- Gender
- Location
- Lifestyle

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10
Q

Why does a company build a clients profile?

A

So marketing campaigns can be more effectively targeted

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11
Q

What is Customer Identity and Access Management?

A

A system used by companies to securely acquire and handle such customer data

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12
Q

What identifies and promotes a product brand?

A

Product labels, including fabric labels, embroidered logos and swing tickets

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13
Q

Why is packaging used on a product?

A

Protects the product so that the customer receives it in good condition, but it can also be used to promote the brand and build brand loyalty

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14
Q

What is corporate identity?

A

The visual representation of the business for example think the use of logos and trademarks

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15
Q

How is corporate identity expressed visually?

A
  • Logos and trademarks
  • Shop signage
  • Shop/outlet design
  • Staff uniforms
  • Company stationery and packaging
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16
Q

What is global marketing?

A

Where a company adapts it’s marketing strategies in order to sell products internationally

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17
Q

How has the marketing of fashion products been globally affected?

A
  • Demand from culturally diverse countries
  • Rising affluence in emerging countries
  • Rise of new, talented designers
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18
Q

Why is social media good for maketing?

A
  • Reach a global market immediately
  • Cheap compared to traditional advertising
  • Build a community of potential customers
19
Q

Why do products have to be realistically priced?

A

To compete and appeal to the target market

20
Q

What are the strengths of collaborative working?

A
  • New creative ideas
  • Skills can be combined
  • Support and encouragement
  • Reduce business costs
21
Q

What will affect the product price?

A
  • Demand for product
  • Price of rival products
  • Price per unit
  • Potential for unsold stock
  • Recommended retail price
22
Q

What 4 things affect product price?

A
  • Cost
  • Profit margin
  • Target market
  • Budget
23
Q

How do costa affect product price?

A

The cost of materials and components and takes into account overheads, for example marketing, administration, packaging and transport

24
Q

How does profit margin affect product price?

A

Amount of money gained from selling products after all costs have been deducted, expressed as a percentage

25
Q

How does target market affect product price?

A

Particular group of people defined by factors such as age, gender, interests, location, disposable income at which a product or service is aimed

26
Q

How does budget affect product price?

A

A realistic calculation of the income required to fund a complete project

27
Q

What happens in a fashion cycle?

A

New fashion is sported by trendsetters, the fashion becomes popular, it’s popularity reaches a peak, the fashion then declines and dissapears

28
Q

What is the sales and marketing cycle?

A

The sequence of advertising and promotional events that attracts customers, communicates with them and persuades them to buy the product

29
Q

What different marketing strategies are used?

A
  • A fad: short lived craze
  • A classic: simple, elegant design that stays in fashion
  • A standard: popular while that lasts longer than a fad but shorter than a classic
30
Q

What are 4 influential trends?

A
  • Retro
  • Vintage
  • Industrial
  • Traditional
31
Q

What is retro?

A

Retrospective in that they are derived from last fashions and designs

32
Q

What is vintage?

A

Use of actual items from the past. This fashion shows an appreciation of colours, patterns and fabrics from the past

33
Q

What is industrial?

A

Black or military influenced clothing, which emerged in the late 1980s. It is often associated with anti establishment, sci fi or post apocalyptic themes

34
Q

What is traditional?

A

A trend inspired by traditional styles and fabrics

35
Q

What are the traditional fashion seasons?

A
  • Spring/summer
  • Autumn/winter
36
Q

What are the average lead times?

A

To develop a collection for each system is 18-24 months

37
Q

What is fashion forecasting?

A

A global industry, with trend forecasters such as World Global Style Network producing reports that forecast future style themes, colours, fibres and directions

38
Q

What influences style of clothing?

A
  • Work
  • Health and fitness
  • New technologies
  • The cult of the individual
  • Internet access/ social media
  • Travel opportunities
39
Q

How does work influence the style of clothing?

A

Become less formal, leading to dress down days and a demand for more comfortable work clothing

40
Q

How does health and fitness influence the style of clothing?

A

Become popular leisure pursuit, leading to a demand for fashionable leisure wear

41
Q

How do new technologies influence the style of clothing?

A

Use of devices such as smartphones, tablets and computers have led to design modifications in bags, hats and jackets to accommodate them

42
Q

How does the cult of the individual influence the style of clothing?

A

People are free to develop their own personal style and dress eclectically, leading to a demand for more customised products

43
Q

How does internet access/social media influence the style of clothing?

A

Allows fashion trends to be communicated very quickly

44
Q

How do travel opportunities influence the style of clothing?

A

As more people travel more frequently, holiday clothing needs to be available all year round

Fashion & Textiles (24 decks)

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