test 1 Flashcards
Who decides what will be fashionable?
consumers
What are the stages that fashion goes through?
Introduction the next new fashion /
rise stage when the new design is accepted by an increasing number of customers/
culmination state fashion is at the height of its popularity and use/
Decline stage when boredom with the fashion sets in/ obsolescence stage strong distaste for a style has set in and can no longer be sold at any price
What are the 5 R’s of fashion merchandising/marketing?
Right time right place right quantities right price right sales promotion
Familiarize yourself with the misconceptions about fashion.
Designers and retailers dictate fashion and force it upon the hapless consumer. This is the most common misconception./Fashion influences only women/ Fashion is a mysterious and unpredictable force of nature.
Be able to recognize 3 basic silhouettes
Bell, Bustle, Straight
The difference between a fad and a trend
FAD style that suddenly sweeps into
popularity, but disappears as quickly/ A TREND A general direction or movement
Be able to list an example of a classic for men, women, children
Women Chanel suit jacket for Men flannel Children overalls
Market Segments
geographics, demographics, psychographics, and behavior
Be familiar with target markets and their purpose
specific groups of potential customers that a business is attempting to turn into regular customers.
Geographics: In what type of climate does the consumer live?
What are the accelerating/delaying factors that impact the speed of fashion cycles?
Accelerating is Increased Buying Power,Increased Leisure Time,Education,Women’s Status,Technological Advances,Sales Promotion,Seasonal Change
Delaying is Habit & Custom,Religion,Sumptuary Laws,Nature of Merchandise,Decreased Buying Power
Downward flow theory definition/ideas
The oldest High to lowTo be identified as a true fashion a style must first be adopted by people at the top of the social pyramid than the style will gradually win acceptance at progressively lower social levels
Upward flow theory definition/ideas
Reflects the enormous social changes that have occurred those in low income lifestyles are quicker than any social group to create or adopt new and different fashions
Horizontal flow theory definition/ideas
Newer theory fashions move horizontally between groups on similar social levels rather than vertically from one level to another ideas not starting or ending with a certain group
Know a few reasons why most people are fashion followers rather than fashion leaders.
Insecurities admire or envy those they dont care also need more time and exposure
Know the four levels of fashion businesses.
The primary level composed of the growers and producers of the raw materials of fashion
The secondary level composed of industrial manufacturers and contractors that produce the semi finished
The retail level is the ultimate distribution level retailers buy their goods from secondary level
The auxiliary level only level that functions with all the other levels simultaneously
Know the 3 types of designers (in the U.S.) fashion industry today
High fashion Stylist designers Freelance designers
How the business of fashion contributes to the economy
Innovation & change are the major factors in economic growth in the fashion business.
Forms of business ownership (3 types)—know each type and be able to list examples.
Sole proprietorship corporation partnership
Be familiar with the 2 ways for internal growth
Horizontal growth and vertical growth
How much of new fashions fail each season?
2/3
What are the 5 types of manufacturers?
High fashion Bride market Better market Moderate priced market Budget market
Fad
A style that suddenly sweeps into
popularity, but disappears as quickly
High Fashion
New styles accepted by a limited number of fashion leaders who want to be innovative.
Trend
A general direction or movement
Fashion Merchandising- is the planning required to have fashion-oriented merchandise at the
Classic
Style that remains in general fashion for an extended period of time.
Target Market
specific groups of potential customers that a business is attempting to turn into regular customers.
Sumptuary laws
laws that regulate what we can and cannot purchase
Horizontal growth
Expands its capabilities on the level on which it has been preforming successfully
Vertical growth
Expands its capabilities on levels other than its primary function
Diversification-Addition of various lines products or service to serve different market can also be a motive for a merger
Types of retailers
Discount Traditional fashion leader mass merch
Market segments
The separation of the total consumer market into smaller groups
