Product development midterm Flashcards
Apparel PD
- the creation and realization of a garment from its initial concept to its sale to consumers
- have to think about the brand AND the customer
knocking off
- legal
- see something on runway, trickles down
- everybody does it
pros of private label
- higher profit
- exclusivity
- quality control
cons of private label
- no wholesaler support
- long lead times
- lack of customer brand recognition
- initial unknown demand
target customer
- a specific group of individuals at which a company aims its products and services
- describe them with as much info as possible
- can change, need to be specific
story telling
- story needs to be told but may not always be exactly the same
- creating a story to stay connected to the customer
Long lead times cause what
many missed opportunities in fashion
fast fashion/speed sourcing
- quick manufacturing at an affordable price
- as seen with some of our favorite retailers
techniques to shorten lead times
- trigger dates: the last possible date for an individual decision to be made without holding up the overall process
- local production: try to eliminate various points of production
ways to buy extra time with deadlines
- piece dyed fabrics
- garment dyed apparel
- delay packing assortment
most common definitions of merchandising
having the:
- right style
- at the right price
- in the right place
- at the right time
- in the right quantity
macro trends
- economic trends
- demographics, psychographics
- industry trends
- competitive landscape
9 features of apparel
- color
- print or pattern
- fiber content
- fabric construction
- texture/surface treatment
- silhouette
- garment construction
- fit/size specifications
- design details/trims
first question when creating a line
-whats selling, whats not, has the target customer changed
assortment planning
product managers are responsible for
- planning the number of styles to be developed
- the quantities, and the overall assortment
two different assortment approaches
assortment planning by
- group
- item
assortment planning by group
- assortment including both tops and bottoms is developed around a related color theme
- entire group will be delivered and shown on floor at same time
- encourages a higher UPT
assortment planning by item
- focus on specific styles rather than presenting a color-related collection
- key items are presented and bought in large quantities, in wide range of colors
- key items replenished throughout season to ensure inventory is available in store
- other styles included to ensure presence of “fashion” on the floor
ratios
-its important to assort the styles in proper proportions to ensure profitability
common ratios to look at in GROUP collection buy
- tops to bottoms style
- fashion to core styles
- basic colors to fashion colors
- long sleeve to short sleeve
common ratios to look at in ITEM collection buy
- buyer will look at similar ratios to group collection
- quantity per style to entire purchase
- ratio by end use (casual vs dressy, day vs evening)
fashion trend
- an overall “look” that is becoming popular
- trends can be reflected in a variety of items and classifications
competitive shopping
- shopping upscale stores
- shopping competing stores
trickle down theory
a style must first be adopted by people at the top of the social pyramid. The style then gradually wins acceptance at progressively lower social levels
trickle across theory
- mass market theory
- fashions move horizontally between groups on similar social levels rather than vertically from one level to another
trickle up theory
the young-particularly those of low-income families as well as those of higher income who adopt low-income lifestyles - are quicker than any other social group to create or adopt new and different fashions
benchmark brands
best performing brands priced similarly to a customer’s brand choice
aspirational brands
brands that customers would desire if they were within their reach
what is pantone
pantone is a world reowned authority on color
color wheel
circular array of all the different hues that exist when white light is refracted into its component parts
hue
the individual pure colors on the color wheel
value
different values of the same hue are created when either white or black is added to that hue
chroma
different chromas of the same hue are created when grey is added to it
three types of color combinations
- complementary
- analogous
- monochromatic
complementary
hues located directly across from each other on the color wheel
analogous
hues that are adjacent to each other on the color wheel
monochromatic
uses different values and chromas of one hue
color blocked
the use of contrasting blocks or panels of solid typically brighter color