Fashion Cycles, Trend prediction, Trade fairs Flashcards
1
Q
What is a fad product?
A
- High amount of sales, short period of time
- Very popular
- Sales decline soon after release
- Unlikely to ever reappear again
- Seasonal items
- Onesie
2
Q
What is a classic product?
A
- Always needed and sold
- Steady rise, no obvious decline
- Practical or design classic
- LBD, white shirt
3
Q
What is a standard fashion product?
A
- Introduced slowly
- Becomes top seller then quickly declines
- May reappear again in later years
- Leggings
4
Q
How long does a standard fashion product last?
A
2 years
5
Q
What is a product life cycle analysis?
A
When designers and manufacturers examine a product to see how well it is selling.
Helps them to decide whether to continue it.
6
Q
What are the five stages of a product life cycle?
A
- Introduction - expensive, designers or street style
- Growth - popularity develops, simplified, costs less
- Maturity - Accessible, high street versions
- Decline - Few wearing, in sales, not considered popular
- Replacement - disposal, unlikely to sell
7
Q
What is the value of trend prediction companies?
A
- Strong influence on textiles/fashion design
- Look at successful trends, assess if will continue
- Collect info from: shows, street, world events, art, media, science, film, past events
- Info sold to other companies who don’t have same resources
- Gives confidence that designs will be on trend and therefore successful
- Not all designers want to us e- some want to set trends or appeal to a niche market
8
Q
What is the value of trade fairs?
A
- Manufacturers of yarn, fabric, components and, garments showcase and sell
- Premiere vision, pitti filati
- Showcase colour predictions
- Can order samples and buy newest materials, up to date
- Twice/year, designer/ready-to-wear shows, for following seasons
- Efficient way to reach large audience of buyers and competitors
- Expensive to run
- Designers go to fid inspiration, specific fabrics etc
9
Q
What is the value of shop reports/sales figures?
A
- Analysis of what consumers are buying/shops are stocking
- Overview of trends, new designers being stocked
- Helps new designers become recognised
- See what’s popular in different market segments
- Generally accurate indicator of what consumers want/value
- Can be unreliable if other factors disrupt.activate retail activity
10
Q
Benefits of a brand name?
A
- Encourage client loyalty
- Brand names to impress, revenue
- Helps promote products
- Adds value, retains better
- Household name/internationally recognised, become must have item, high volume of sales
- Registered name, exclusivity for company
- Brand umbrella, range of products
