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68 True/False questions

  1. Supply chain, channel of distribution, or marketing channelProduct, Price, Place and Promotion
    The intended target customer determines the combination of the 4 P's

          

  2. Culmination stagea time when a large percentage of a population is wearing a fashion; everyone who wants the fashion wears it. The early majority represents consumers at this stage.

          

  3. Marketingall the activities, from idea conception to ultimate consumer use, that satisfy the objectives of the buyer and seller.

          

  4. Target MarketSelect group of customers with the ability and desire to purchase a company's products and services and to whom the company has directed their marketing efforts.
    Interchangeable with: Target customers and customer base

          

  5. 4 P's of Fashion MarketingCreating a lasting and mutually beneficial relations with key suppliers and consumers to ensure repeat purchases.
    Ex: Writing thank you notes to customers, letting them know when upcoming promotions take place etc..

          

  6. Retail price or retailrefers to the process on the line for line copying of design ideas from other designers or companies. The illegal form of style piracy is counterfeiting.

          

  7. Obsolescence stagerepresents the final stage in the life of fashion. The general population rejects the purchase of the merchandise in this stage an most retailers eliminate it from their stores. Consumers= laggards because they lag behind.

          

  8. niche marketinga narrowly defined market segment, but is not necessarily a small segment. Niche market consumers have an even more defined set of interests. Ex: Teens that shop at Hollister, Hot Topic and PacSun all have different specific interests.

          

  9. Wholesale, wholesale cost, and costthree interchangeable words that refer to the amount the store pays for the item.

          

  10. Behavioral segmentationprocess of dividing the market into groups according to a particular region.

          

  11. Geographic segmentationprocess of dividing the market into groups according to a particular region.

          

  12. Natural FibersGrow from a plant source or are produced by a living animal.

          

  13. Decline StageWhen there is a reduction in the number of people buying the fashion. Made up of the late majority.

          

  14. PromotionIncludes all activities that build awareness, interest, traffic, goodwill and ultimately encourage sales to the target customers.

          

  15. Knockoffthe difference between the cost and the markup

          

  16. Pull marketingall the activities, from idea conception to ultimate consumer use, that satisfy the objectives of the buyer and seller.

          

  17. Rebranding/ Brand inovationprocess of dividing the market into groups according to a particular region.

          

  18. Placeor distribution refers to the movement of products through the levels of the fashion marketing channel until the products reach the target customers.

          

  19. Style Piracyrefers to the process on the line for line copying of design ideas from other designers or companies. The illegal form of style piracy is counterfeiting.

          

  20. markupthe difference between the cost and the markup

          

  21. National Brandbranded merchandise that is available in competing stores across the nation or the world. Brands owned by manufacturing companies and sold in a variety of retail stores. EX: Hanes, Nine West, Playtex

          

  22. Quantitative Researchinvolves the collecting of relatively small amounts of data on large numbers of persons or things. Data is then statistically analyzed to figure out averages.
    EX: during WWII large amounts of data was taken to make mens uniforms which later on was used to analyze measurements for standardized men's wear.

          

  23. media mixusing several venues to maximize exposure.

          

  24. Database Marketinga narrowly defined market segment, but is not necessarily a small segment. Niche market consumers have an even more defined set of interests. Ex: Teens that shop at Hollister, Hot Topic and PacSun all have different specific interests.

          

  25. Brandingthe way a store, label or designer impresses cutovers and influences their perceptions of the brand.

          

  26. Protein FibersFibers produced from animals
    EX: wool, silk

          

  27. Relationship Marketingthe process of extracting and interpreting consumer sate from available electronic information.
    Ex: sending out a birthday coupon for a customers birthday based on the amount of money they spend with the company.

          

  28. Fashion researchpredicting the trends in popular colors, prints, styles, fabrications, and general trends.

          

  29. 7 Steps in Fashion Research1. Defining the research problem
    2. Developing hypothesis
    3.Selecting the Sample
    4.Developing the Research Instrument
    5.Collecting Data
    6.Analyzing and interpreting data and drawing conclusions
    7.Reporting findings

          

  30. intellectual property rightsrefers to the protection of a person's or company's creative ideas for a certain period of time.

          

  31. Push Marketing"getting the consumer to come to you"
    EX: advertising and mass media production, word of mouth referrals, sales promotions and discounts.

          

  32. introductory stagea time when a large percentage of a population is wearing a fashion; everyone who wants the fashion wears it. The early majority represents consumers at this stage.

          

  33. Designer BrandsBear the name of original designer, have widespread appeal, and may be available in a variety of competing stores.

          

  34. fashion forecastingpredicting the trends in popular colors, prints, styles, fabrications, and general trends.

          

  35. fashionfashion that remains popular over a relatively long period of time EX: blue jeans, animal prints, men's navy blazer

          

  36. Brandthe way a store, label or designer impresses cutovers and influences their perceptions of the brand.

          

  37. classicfashion that remains popular over a relatively long period of time EX: blue jeans, animal prints, men's navy blazer

          

  38. soft goodscharacterized by a quick rise to popularity and an even more rapid decline

          

  39. ProductGoods and services

          

  40. PositionIncludes all activities that build awareness, interest, traffic, goodwill and ultimately encourage sales to the target customers.

          

  41. Fast Fashionsshaped like a bell curve one a graph, has a rise, growth, culmination and obsolescence.

          

  42. Brand Equitythe way a store, label or designer impresses cutovers and influences their perceptions of the brand.

          

  43. TextilesDetermination of retail value.

          

  44. Vertically IntegratedWhen there is a reduction in the number of people buying the fashion. Made up of the late majority.

          

  45. Psychographic segmentationGender, age, occupation, income, education level, marital status family life cycle state

          

  46. Market segmentationclosely related to psychographic segmentation, but classifies customers by similar purchasing intents and behaviors.
    Ex: cosmetic retailer may classify their customers by heavy usage rates or low usage rates depending on how often they purchase their cosmetics.

          

  47. fada word or a symbol that identifies the source of goods or services and differentiates it from the competitor;s goods or services.

          

  48. Cooperative advertisementswhen the manufacture and the retailer spit the cost of the new product advertisement.

          

  49. Cellulose FibersFibers produced from animals
    EX: wool, silk

          

  50. Licensing Agreementin the fashion industry is a legal contract between the licensor and the licensee that grands permission or gives the rights to use the licenser's namer other symbol on fashion goods made by the licensee.

          

  51. Primary DataPreviously collected and published facts that answer another research question.

          

  52. PriceDetermination of retail value.

          

  53. Trend based fibers or textilesthe amount the ultimate consumer pays for the item.

          

  54. Counterfeitsfakes that are intended to look like authentic originals.

          

  55. rise or growth stagethe beginning of the fashion life cycle when a group of experimental consumers called fashion innovators adopt a new look.

          

  56. Demographic segmentationGender, age, occupation, income, education level, marital status family life cycle state

          

  57. Secondary Datafacts to answer a particular marketing research problem.

          

  58. Raw Materialswhen the trendy specialty stores offer clothes intended for wear during a single season before consumers discard the items.

          

  59. integrated marketing communicationsa company focuses on a particular group of customers.

          

  60. private label brandsbranded merchandise that is available in competing stores across the nation or the world. Brands owned by manufacturing companies and sold in a variety of retail stores. EX: Hanes, Nine West, Playtex

          

  61. mediumusing several venues to maximize exposure.

          

  62. luxury brandshigh end or expensive brands afforded only by customers with significant amounts of discretionary income, or at least those who aspire to be affluent.

          

  63. Man made/ manufactured fiberssynthetic petroleum based fibers
    EX: polyester, nylon, acrylic, olefin

          

  64. Market testingrealistically gives a consumer response to the introduction of a new product in a smaller market area, such as one or a few cities before expanding

          

  65. RepositioningWhen the combination of the four P's create an image in the minds of the customers

          

  66. Qualitative Researchinvolves the collecting of relatively small amounts of data on large numbers of persons or things. Data is then statistically analyzed to figure out averages.
    EX: during WWII large amounts of data was taken to make mens uniforms which later on was used to analyze measurements for standardized men's wear.

          

  67. Multinational Brandsspan geographic boundaries and may be available at stows throughout the world. EX: Guess, Baby Phat, Diesel

          

  68. Fashion Marketing Mixpredicting the trends in popular colors, prints, styles, fabrications, and general trends.