Chapter 1 Flashcards
Define marketing
planning, pricing, promotion, and distribution of ideas, goods, and services.
Name and describe the three phases of the fashion cycle
Introductory, Peak, and Decline
Introductory
product is first introduced, expansive, trend setters wear this item.
Peak
will have the highest sales levels, worn by the “Target Market”, price goes down, purchased in stores, Trend setters move onto NEWER ITEMS.
Decline
Consumers are tired of item, no one wants this item. Can be found in “flea-markets” and “bargain discount stores”, not many people wear this item.
What does product mix refer to?
All products created by a designer or carried in a retail store.
Fashion styled and colors in the U.S. generally reflect:
Economic conditions and attitudes
What are the elements of the marketing mix (4 P’s) of marketing and describe each
pricing, promotion, product, place (distribution)
Product
Designing, producing, maintaining, improving products to meet consumer’s needs.
Pricing
process of setting the value or cost at the right level.
Promotion
Communicating with the customer about the product or service.
Place (Distribution)
involves moving the product to the customer.
List the five most common fashion styles.
Define the functions of marketing Classic, trendy, young definer, designer, couture.
Define the functions of marketing
Marketing Information Management, Financing, Pricing, Promotion, Product Service Management, Place (Distribution), and Selling
Marketing Information Management
Gathering information about what consumers want ex: survey