Fashion Marketing Final Exam

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: Any designed product that is currently popular, that is of the moment and subject to change, and the people consider desirable and appropriate at a given time

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: An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing relationships in ways that benefit the organization and its stakeholders

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: The application if marketing processes and activities to currently popular designed products. Encompasses everything that goes into the creation and developing a fashion product.

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A : Is a set of actual and potential buyers
Customers when they: for products, with companies to obtain information, make purchases

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: Macro environmental tool categorizing the external factors (Global-Politics, environment, socio-cultural, Technology, Economics, Legal and Competition

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Consumer : The exchange processes involved in acquiring, consuming, and disposing of goods and services

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• The Buyers’ Decision-Making Process:
o Step 1: Recognizing the
 Needs to buy an outfit for attending a formal event, or a new job
o Step 2: Seeking
 Understand and analyze your problem
 Do research
o Step 3: Weighing
 Evaluate your options
o Step 4: Making a
 Making a purchase
o Step 5: Evaluating that
 How customers feel about that purchase

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Segmentation: Divides total marketers into smaller clusters of possible customers who display similar characteristics, wants and needs

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• Segmentation categories:
o : Age, gender, Economic status (income)
o : Quantitative investigation of consumers lifestyles and personality characteristics
 : The distinctive patterns of behavior that characterize each individual’s adaptation to the situations of his/her life
 : How people live, how people spend their money how people allocate their time
 AIO Statements:
• A: Statements
• I: Questions
• O: Questions
o : Physical environment, climate, and natural resources inherent to a market (ex: rural/suburban/big city
o Consumer : A is a need that is sufficiently pressing to direct the person to seek satisfaction of the need

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Creating a Marketing mix: The set of controllable, tactical marketing tools- product, price, promotion, and place- that the firm blends to produce the response it wants in the target market

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o Product:
 Types of Consumer Product:

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Which stage of the fashion life cycle is the trend most popular

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Unit Retail Price: $80/Skinny-Fit Solid Velvet Ankle Pant
Unit Variable Cost: $50
Fixed Cost: $45,000
Break even Unit?
units:
Equation:
Fixed Cost/(Unit Retail Price-Unit Variable Cost)

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Price is the monetary amount that one pays in exchange for a product

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What is an example of a company that prices above the market?

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What is Variable pricing?

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In sales promotion, a gift with purchase is when a company offers a specially priced or exclusive item for a smaller additional price when customers make a purchase at or above a certain dollar amount or buy a specific product

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( Public Relations, Press release, Press Kit ): Aim at generating good will and positive image for the brand and its products among the public

( Press release, Press conference, press kit ): Document that presents news in a manner designed to promote the launch of a new collection, the hiring of a new designer, or the endorsement of its line by a celebrity

( Press Kit, press conference, press release ): A package of promotional material provided to members of the media to brief them

( Press Conference, press kit, press release ): An event in which appropriate media are invited to learn specific news in person

( Annual Report, personal selling, product placement ): The years activities, such as: new products that were introduced or new markets that were entered, and plans for the coming year. It also contains detailed financial information for the year

( Product Placement (PPL), annual report ): The inclusion of branded products or identifies through audio or visual means within mass media programming

( Personal Selling, annual report, product placement ): Involves a one-on-one, often face-to-face interaction between a marketer’s representative and an individual or small group of consumers with the goal of generating a sale

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Who are the middlemen or resellers that handle flow of products from the manufacturer to the immediate response, and build lasting, customer relationship

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Marketing System: When one member of a marketing channel yields more power than the others, an administered marketing system may result (Walmart, Nike, Apple)

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o ( Independent Retailers, discount store, pop-up store ): Owned by a single person (sole proprietorship) or partnership

o ( Department Stores, factory outlet, specialty store ): Offers a wide selection and wide variety of products and fashion products. To broad range of customers (heterogeneous)

o ( Specialty Stores, factory outlet, pop-up stores ): Carries narrow product lines with deep assortments within those lines. Targets a specific and homogeneous customer

o ( Discount Store, department store, factory outlet ): Offer a combination of general merchandise at lower prices

 ( Factory outlets, discount stores, pop-up stores ): Manufacturer-owned and operated stores by firms such as J. Crew, Gap, Nike

o ( Pop-up Stores, factory outlet, specialty store ): Temporary retail spaces that typically appear in a vacant space, offering unique merchandise

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In the stages of the marketing process, what is the stage where you decide on the type of observation form or questionnaire?

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what type of research includes laboratory and field experiments

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In descriptive research, you use Cross-sectional study and Longitudinal analysis

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what is the quickest, cheapest and most flexible way to gain insights and ideas in exploratory studies?

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A is the total set of subjects of interest in a study, while the is a subset of this on which the study collects data

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the three types of ritual experience is:

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o : The giver is motivated by an event to procure a gift

o : The Process of gift exchange. The recipient responses to the gift

o : The bonds between the giver and the receiver are adjusted (either looser or tighter) to reflect the new relationship that emerges after the exchange is complete

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• ( Users, influencers, buyers, deciders, gatekeepers ): Those that will use that actual product or service
• ( Influencers, users, buyers, deciders, gatekeepers ): Help define specifications and provide information for evaluating alternatives
• ( Buyers, users, influencers, deciders, gatekeepers ): Have formal authority to select the supplier and arrange terms of purchase
• ( Deciders, users, influencers, buyers, gatekeepers ): Have formal or informal power to select and approve final suppliers
• ( Gatekeepers, users, influencers, buyers, deciders ): Control the flow of information

college Fashion Quiz am Fashion Marketing Final Exam, erstellt von kiara alberigo am 14/12/2018.

Fashion Marketing Final Exam

Fashion Marketing Final Exam

: Any designed product that is currently popular, that is of the moment and subject to change, and the people consider desirable and appropriate at a given time

: An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing relationships in ways that benefit the organization and its stakeholders

: The application if marketing processes and activities to currently popular designed products. Encompasses everything that goes into the creation and developing a fashion product.

A : Is a set of actual and potential buyers Customers when they: for products, with companies to obtain information, make purchases

: Macro environmental tool categorizing the external factors (Global-Politics, environment, socio-cultural, Technology, Economics, Legal and Competition

Consumer : The exchange processes involved in acquiring, consuming, and disposing of goods and services

Segmentation: Divides total marketers into smaller clusters of possible customers who display similar characteristics, wants and needs

Creating a Marketing mix: The set of controllable, tactical marketing tools- product, price, promotion, and place- that the firm blends to produce the response it wants in the target market

o Product:  Types of Consumer Product:

Which stage of the fashion life cycle is the trend most popular

Unit Retail Price: $80/Skinny-Fit Solid Velvet Ankle Pant Unit Variable Cost: $50 Fixed Cost: $45,000 Break even Unit? units: Equation: Fixed Cost/(Unit Retail Price-Unit Variable Cost)

Price is the monetary amount that one pays in exchange for a product

What is an example of a company that prices above the market?

What is Variable pricing?

In sales promotion, a gift with purchase is when a company offers a specially priced or exclusive item for a smaller additional price when customers make a purchase at or above a certain dollar amount or buy a specific product

Who are the middlemen or resellers that handle flow of products from the manufacturer to the immediate response, and build lasting, customer relationship

Marketing System: When one member of a marketing channel yields more power than the others, an administered marketing system may result (Walmart, Nike, Apple)

A : Is a set of actual and potential buyers
Customers when they: for products, with companies to obtain information, make purchases

o Product:
 Types of Consumer Product:

Unit Retail Price: $80/Skinny-Fit Solid Velvet Ankle Pant
Unit Variable Cost: $50
Fixed Cost: $45,000
Break even Unit?
units:
Equation:
Fixed Cost/(Unit Retail Price-Unit Variable Cost)

o : The giver is motivated by an event to procure a gift

o : The Process of gift exchange. The recipient responses to the gift

o : The bonds between the giver and the receiver are adjusted (either looser or tighter) to reflect the new relationship that emerges after the exchange is complete