Exam 1 Flashcards
What makes the apparel industry different from others?
The apparel industry encompasses manual operations, a variety of product categories, fashion change, seasonal change, and critical timing.
What are the five price classifications?
Designer, Bridge, Better, Moderate, Budget
What are the characteristics of the budget price point?
Below average price, promotion is based on value, price is the primary point of competition
Provide an example of the budget price point.
Kmart, Wal-Mart, Target, Old Navy, H&M
What are the characteristics of the moderate price point?
Average retail price, meets middle America needs (fashion, quality, performance), many nationally advertised brands
Provide an example of the moderate price point.
Gap, Khol’s, JCPenney, LImited, Charlotte Russe
What are the characteristics of the better price point?
Above average price, implication of higher quality, not exclusive design
Provide an example of the better price point.
Macy’s, Dillard’s, Banana Republic, Anthropology, JCrew
What are the characteristics of the bridge price point?
Priced between better and designer, features of designer modified goods at lowered prices, diffusion lines
Provide an example of the bridge price point.
Nordstrom, Bloomingdales, DKNY, Armani Collection, Saks Fifth Avenue
What are the characteristics of the designer price point?
Highest relative price, exclusive, design creativity, materials, personalized fit, limited production runs
Provide an example of the designer price point.
Barney’s, Neiman Marcus, Bergdorf Goodman, Henri Bendel, Fred Segal, Louis Vuitton, Chanel Giorgio Armani, Zac Posen
Branded
Products sold under a trademarked name to retailers that sell other branded products
How is the reputation of a brand communicated to consumers?
Through brand image, word mark and logo, product design, quality, marketing, promotion, distribution, and customer service
Brand strategy
Strategic plan for development of a brand to enable a company to meet its objectives based on characteristics and needs of the target customer and their lifestyle
Lifestyle brand
Expands beyond their origins in a single product category
Private label brand
Merchandise developed by a retailer to sell in their stores alongside branded products
What is the difference between a private brand and a private label brand?
A private brand is produced to compete with other branded products. A private label brand is developed by the retailer to be sold alongside other branded products.
Store brand
Merchandise is developed by a retailer under the same trademarked name as the sold; only private brand merchandise is sold.
Brand portfolio
Multiple brands offered by a company to increase marketshare
Provide an example of a brand portfolio
Gymboree, Gap, The Limited
Differential advantage
A company’s competitive edge such as lower price, superior quality, or unique product features
What are the steps of the design-driven product development model?
1) Problem definition
2) Research
3) Concept development
4) Design ideation
5) Refinement and selection
6) Implementation
What is involved in problem definition?
Defining what you are trying to accomplish; consider target customer, product classification, market segment, brand, price point, and season
What are the three categories of trends to use as research?
Environmental, consumer, and product
What influences are represented in environmental trends?
Mega trends and economic, social, political, and cultural trends
What influences are represented in consumer trends?
Demographic and psychographic; and cultural distinctions (when reaching out to other countries)
How can a company collect psychographic research?
Focus groups, surveys, the Internet
What influences are represented in product trends?
Competition and leadership (aspirational brands); past performers; and forecasted trends
What are the steps to defining the concept of the line?
Brainstorm based on research, then define the theme or mood of the line
What is involved in design ideation?
Development of styles
What are the steps of the supply chain?
1) Mills
2) Manufacturers
3) Retailers
4) Consumers
What is an inside shop?
A manufacturer owned and operated factory responsible for apparel from start to finish
What are the responsibilities of traditional manufacturers?
Typical inside shop
Contractor
An independent business hired to provide production services to manufacture entire garments
Outside shop
An independent contractor hired by a manufacturer to outsource one or more aspects of garment production
What are examples of outside shops?
Contractor, subcontractor, specialty contractor, CMT, and jobber
Specialty contractor
An independent contractor hired by a manufacturer to complete a portion of the production of a garment that requires special skills and equipment
CMT
Cut, Make, Trim; a contractor that completes all aspects of production to manufacture the garment
Jobber
An independent contractor hired by a manufacturer to outsource the production of entire garments or partially complete components.
What are the needs of the target market?
Aesthetic, expressive, and functional
What is the difference between creative design and technical design?
Creative design happens pre-adoption. It is used to develop ideas. Technical design happens post-adoption. It serves the purpose of refining the product.
What are the advantages of product development from the retailer?
Market differentiation, higher margins, greater control, and the advantage of a pull-through strategy
What is the merchandiser responsible for?
Conceptualization, planning, development, styling, and timing, and presentation of a market-oriented product line
What is the marketer responsible for?
Promotion, advertising, selling techniques, customer feedback, and strategies for growth
Why reach out to fringe customers?
Fringe customers could become core customers. They also make up a large part of the consumer base.
What are the three main market segments?
Niche, mass market, and multiple-segment
Niche market segment
Narrowly defined, specialized group
Mass market segment
Middle income, broad audience
Multiple-segment market
More than one target market
What are the three marketing objectives?
Market penetration, market development, and diversification
What is the purpose of the marketing objectives?
Expand sales, identify new customers, develop new products
What aspects are important to know for market positioning?
Purchasing criteria, perceptions of competing products, and product performance expectations
What are the three factors that influence customers to buy?
Financial, social, psychological
Consumer profiles
Descriptions of potential customers’ demographics and psychographics, as well as targeted price range
Three groups of demographic data
Physical characteristics, social arrangement, key possessions
Two groups of psychographic data
Social aspects (cultural, social class) and psychological (personality)
Matures
Silencers; born 1909-1949; women stayed home to raise children; rich, big spenders
Baby boomers
Idealists; born 1946-1964; save the world revolutionaries and yuppies; more accepting of social issues; retirement means more activity
Generation X
Reactive; born 1965-1981; individualistic; single parents
Generation Y
Echo boom; born 1982-Mid 90s; respectful of authority; driven to succeed
Generation Z
Homeland/Net; born Mid 90s-2009; heavy spenders
Generation Alpha
Born from 2010
What are the various lifestyle segmentations to consider?
Generational cohort profiles, psychographic profiles, social issues, and demographic profiles
What does product research involve?
Consumer preferences and product design
What does market analysis involve?
General market trends and competitors/leaders in the marketplace
What is brand DNA?
Distinctiveness, Novelty, and Attributes
Why is brand DNA important?
It differentiates the product from its competitors.
What are the top ten megatrends toward 2020?
Aging, globalization, technological development, prosperity, individualization, commercialization, health and environment, acceleration, network organizing, and urbanization
Hue
The purest form of a color
Value/luminance
Lightness or darkness of a color
Saturation
Measures the purity of a color expressed by its sharpness or dullness
Who are some industry leaders in color forecasting?
Color Association of the United States (CAUS), Color Marketing Group (CMG), International Colour Authority (ICA), Pantone Color Institute
What are the merchandise categories in womenswear?
Sportswear, active wear, career, dresses, intimate apparel/lounge wear, formal wear, outerwear, and accessories
What are the merchandise categories in menswear?
Sportswear, athletic wear, tailored clothing, furnishings, sleepwear, formal wear, and outerwear
What are the merchandise categories in children’s wear?
Infant, toddler, sportswear, dresses, sleepwear, formal wear, outerwear, and accessories
What are the merchandise categories in home?
Bedding, bath, accessories, window treatments, and floor coverings
What are the three merchandise groups?
Separates, coordinated separates, and multi-piece styles
What are the size ranges for womenswear?
Women’s, misses, junior, petite & tall, and XS, etc.
What is the size range for women’s?
14W-24W (52)
What is the size range for misses?
0-16 (20) even
What is the size range for junior?
1-17 odd
What are the size ranges for menswear?
Suits/jackets/coats, pants, furnishings, S, etc., tall/long
What is the size range for suits, jackets, and coats?
32-50
What is the size range for pants?
28-40 even
What is the size range for furnishings?
Neck circumference/sleeve length
What is the size range for S, M, etc. for men?
S, M, L, XL, XXL, XXXL
What is the size range for tall/long, etc.?
Short, regular, tall/long, ex. tall
What are the size ranges for children’s wear?
Infants, toddlers, children’s, girl’s, boy’s
What is the size range for infants?
Preemie, newborn, 0-3, 6, 9, 12, 18, 24 mos.
What is the size range for toddlers?
(1T) 2T, 3T, 4T (5T)
What is the size range for children’s?
2-7, S, M, L, XL
What is the size range for girl’s?
(6x) 7-16 (16x)
What is the size range for boy’s?
2-24, husky
What are the size ranges for home?
Twin, twin XL, full, double, full/queen, queen, king, California king, and standard
Sample size
The middle of the size range; used to make garments fit as best as possible
What is the selling period for basic goods?
52 weeks to a few years
What is the selling period for trend right fashion goods?
8-13 weeks
What are the needs of customers that are represented in the FEA Consumer Needs Model?
Functional, expressive, and aesthetic
Balanced line
Planned and distributed in quantities the consumer will buy
What is the typical ratio for tops to bottoms?
3 tops to 1 bottom
What is the typical ratio for tailored to non-tailored?
1 hard to several soft
What is Paros known for in terms of trend forecasting?
All around best for strong leaders for trends
What is St. Tropez known for in terms of trend forecasting?
Resort and Spring/Summer casual trend leaders
What is Milan known for in terms of trend forecasting?
High-style, understated chic leaders for trends
What is Florence known for in terms if trend forecasting?
Menswear capital of the world
What is London known for in terms of trend forecasting?
Classic tailored or funky/punk leaders for trends
What is Amsterdam known for in terms of trend forecasting?
Strictly young and funky leaders for trends
What are some evolving cities for trend spotting?
Berlin, Barcelona, and Antwerp
What are some examples of trend forecasting services?
Sacha Pacha, trendstop, fashion trendsetter, Fashion Snoops
What are some examples of trade publications?
WWD, DDi, View, VMSD
Intrinsic cues
Internal to the product (styling, fit, fabrication, construction)
Extrinsic cues
External to the product, still impacts consumer perception (brand, price, VM techniques, advertising)
What are the five design elements?
Line, color, texture & pattern, silhouette, and shape
What are the five design principles?
Proportion, balance, emphasis, rhythm, and harmony
What do diagonal lines represent?
Movement
What do horizontal lines represent?
Rest
What do vertical lines represent?
Strength
Metamerism
When fabric reads a different color under different lighting conditions
What creates shape?
The silhouette of a garment
Why do you want a variety within merchandise lines?
Customers have different body types
What are the two different line planning approaches?
Merchandise-driven and design-driven
Merchandise-driven product development
Garments are designed to fit a merchandise plan; design a specific number of garments per category
Design-driven product development
There is an outline of garments per category; design many options and narrow down
What are the three line planning methods?
Original designs, style modifications, and knockoffs
What are the keys to successful silhouettes?
They must match aesthetic and performance needs of the customer, be producible at the targeted price point, and meet customer lifestyle needs
How do you determine how many SKUs will be in a product line?
(Number of styles) x (number of sizes) x (number of colors)
