Ch. 10-Global Sourcing/Merchandising
Ch. 11 - Fashion Retailing
Ch. 12 Fashion Auxiliary Services
Articles and Case Study
Other Things to Know
100
What makes the NYC fashion market unique?
Garment district; Top of the line fashion markets; NYC is the fashion capital of the world; Brands have flagship stores in NYC; No central market building; 1000s of showrooms
100
What determines if a store is under the ownership of a chain organization?
If there are 4 or more centrally owned stores (this can be local, regional, or national).
100
Why is a company's webpage so important?
Should always reflect the company's identity being well designed and user friendly.
100
Why is Burberry, a prestigious, luxury brand, engaging in avenues of digital technology?
Relate to a young and successful demographic; To stay relevant; Customer experience; Customers enjoy interacting with the brand
100
The trade agreement which eliminated quotas and tariffs between the U.S., Canada, and Mexico.
North American Free Trade Agreement (NAFTA)
200
A well-known ready to wear show which brings together 1,000 exhibitors from around the world is ________________________________________________.
Pret-a-Porter Paris (recall the Karl Lagerfeld, Chanel clip)
200
What are the two ways that retailers are typically classified based on the goods they carry?
General and specialized
200
Who uses the megaphone effect?
Bloggers
200
According to the WWD article, "Taking stock of the production revival" give 2 reasons for foreign investment in U.S. textile and apparel companies.
"Made in USA" label; Finished goods from the U.S.; Trade agreements; Stable economy, infrastructure, government
200
What is foreign commissionaires?
An office located in key buying cities working for both retailer and manufacturers to purchase goods and merchandise for their clients.
300
1. A building or complex of building that house a wholesale market. 2. Where goods are sold at wholesale prices to store buyers. 3. Geographic location (city) where fashion is produced and sold as wholesale prices.
1. Mart 2. Market 3. Market center (Be familiar with the terms from Ch. 10)
300
What are 2 reasons online shopping has grown in the fashion industry and for retail businesses?
Rapidly expanding online and mobile users; Emerging markets are using online and mobile shopping; Increase in mcommerce sales; Advanced shipping/payment options; Major brand pushing into new international markets; Better functionality of webpages; Ease of shopping; Better trust in online shopping
300
Why is the customer experience so important for the retailer's sales? Give an example of how a retailer creates a customer experience.
Increase sales
300
Based on “How Burberry’s digital strategy is boosting brand value” what are 3 specific examples of digital integration mentioned in the article?
Burberry Kisses; Burberry Acoustic; Art of the Trench; Bespoke
300
What is unique about In Style magazine in print media? What is unique about WWD?
In Style was the first to cover celebrities and their fashion choices. WWD is a trade publication considered "the Bible" by those in the fashion industry.
400
__________________________ was the father of Parisian couture, while _________________________ was the first designer to hold fashion shows and branch into other product categories like perfume, fabric, and accessories.
Charles Frederick Worth; Paul Poiret
400
What is the difference between a discount store, factory outlet, and category killer?
Discount store: selling goods at less than full price Factory outlet: backup channel to control inventory, canceled orders, and overstock Category killer: carries one type of good for customers, offered at low prices in a no frills environments.
400
Why was Tobe Coller Davis so important?
Established the first fashion consultant agency
400
List 1 of the resources or initiatives of the Trend Union mission.
Intuitive forecasting; Forecasting services up to 2 years in advance; Talking Textiles; Trendtablet.com
400
Information resources available as an auxiliary service would include: (list 2)
Fashion consultants; Trade Associations; Market research agencies; Trend Forecasting
500
In the historical development of the fashion industry for France and Italy, what did Italy do differently than France which set it apart?
Italy began exporting RTW apparel in 1960 and now employs more than 800 thousand people.
500
What was the first department store to open in Paris during the 1900s which began the development of modern merchandising?
Bon Marche
500
What is the difference between advertising, publicity, and PR?
1. Advertising is space and time for which the client pays 2. Publicity is often a free and voluntary mention 3. PR enhances a client/company's long-term goal
500
In the Trend Union case study 7 virtues of forecasting were discussed. List any 4 of these virtues.
1. Purity 2. Restraint 3. Generosity 4. Integrity 5. Patience 6. Kindness 7. Respect
500
What are the 4 purposes of the buying, merchandising, and product development organizations?
1. Importing 2. Developing products 3. Preparing for market weeks 4. Purchasing
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