Chapter 2: Business Planning

Question 1

Merchandising

Answer 1

The process of planning, developing and presenting product lines for identified target markets with regard to pricing, assorting, styling and timing.

Question 2

Production

Answer 2

Responsibility for making or manufacturing apparel products.

Question 3

Finance

Answer 3

All accounting activities of the firm/business.

Question 4

Operations

Answer 4

Oversees the upkeep of equipment used by employees.

Question 5

Marketing

Answer 5

Area of business that sets advertising and promotional objectives as well as recommends sales goals.

Question 6

Strategic Plan

Answer 6

Based on mission, vision and values of the company.

Question 7

Mission Statement

Answer 7

Why they are in business, the consumers they serve and what makes them special.

Question 8

Vision Statement

Answer 8

Goals for the future and how it wants to be seen.

Question 9

Core Values

Answer 9

What is important as a business.

Question 10

Budgets

Answer 10

Written plan of projected income and expenditures.

Question 11

Sustainability

Answer 11

Meets the needs of the present without compromising the ability of future generations.

Question 12

Merchandise Plan

Answer 12

Identifies the resources needed to meet the companies profit, sales and margin objectives for a specific season.

Question 13

Line or Range Plan

Answer 13

A plan that sets sales and margin goals.

Question 14

Assortment Plan

Answer 14

A detailed outline of the plan: products, colors, sizes, prices and delivery.

Question 15

Merchandise Calendar

Answer 15

Schedule of events to make sure product gets to consumer in time.

Question 16

Fast-Fashion

Answer 16

Apparel that is produced at moderate prices over very short time frames (weeks instead of months).

Question 17

Creative Planning

Answer 17

Tracks trends and interprets them for the company’s target market.

Question 18

Technical Planning

Answer 18

Develops fit standards, materials and construction guidelines.
• Prototype – First garment made from a pattern.

Question 19

Production Planning

Answer 19

Links merchandising, creative design and technical decisions to the actual construction of products.

Question 20

Line Concept

Answer 20

Mood, theme and key elements that contribute to the identity of the line.

Question 21

Line Development

Answer 21

Translating trend development into actual sketches of styles.

Question 22

Line Presentation

Answer 22

Showing the line of products to sourcing managers for selection of styles to be included in the seasonal line.

Question 23

Positioning

Answer 23

How a garment relates to other similar to it in style, design, fabric, quality and price point.

Question 24

Brand

Answer 24

A distinctive name or logo used to identify products or services.

Question 25

Branding

Answer 25

The process of planning the direction, inspiration and energy that a brand represents.

Question 26

Brand Image

Answer 26

A consumer’s set of assumptions and feelings about products and/or services provided under a brand name.

Question 27

Lifestyle Brands

Answer 27

Brand offerings that go beyond the initial apparel product line to include other product categories.