Fashion Marketing Basics
What is the main goal of marketing?
To satisfy customer needs and wants.
A group of buyers with similar needs and wants is called?
Target Market
What is the process by which a trend spreads through society?
Diffusion of Innovation
Which type of brand focuses on status and exclusivity?
Luxury Brands
What happens to consumer fashion purchasing during a weak economy?
They buy cheaper clothing
Marketing involves all company divisions, not just advertising. True or False?
True
If a company fails to identify its target market, what happens?
Marketing Efforts Fail
Who are the first people to adopt a trend?
Innovators
Which type of brand focuses on accessibility and affordability?
Mass Market Brands
When companies fail financially, they may file this type of bankruptcy.
Chapter 11
A company’s written statement of purpose that guides marketing is called?
Physiological, social, and esteem needs are part of which hierarchy?
Maslow's Hierarchy of Needs
Fads are short-term or long-term?
Short- Term
Give one example of a luxury fashion brand.
Miu Miu
Prada
Gucci
Chanel
During a strong economy, designers can use more fabric and creative designs. True or False?
True
Name the four main signals a company gives the market.
Product, Price, Placement, Communication
Which type of fashion appeals to consumers’ social belonging needs?
Fast Fashion / Trendy Clothing
Classic fashion is short-term or long-term?
Long Term/ Timeless
Give one example of a mass-market brand.
Target
H&M
Zara
Everyday low pricing strategies are especially important during which economic condition?
Weak or Recession
What type of marketing builds long-term relationships with consumers and stakeholders?
Relationship Marketing
Luxury brands like Gucci mainly appeal to which level of Maslow’s hierarchy?
Esteem
Name one example of a company that uses fast fashion to move trends quickly to stores.
Zara
H &M
SheIn
Fashion Nova
Luxury brands aim to satisfy which Maslow need?
Esteem
Give an example of a designer who collaborated with a mass-market store.
Issac Mizrahi
Simone Rocha