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24 Cards in this Set
- Front
- Back
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Forecasting
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Activity of proj.ecting trends
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Trend
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General direction in which something is moving.
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Fashion Trend
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Visible direction in which fashiopn is moving. (i.e. fabric, style, & color)
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Ford
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Best-selling trend with strong customer demand, available at several different price points, and produced by many different manufacturers.
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Fad
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Very short-lived trend.
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Classic
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Trend that endurers over a long period of time undergoing only minor changes as it progresses through the proruct life cycle.
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Trends Emerge from:?
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-Society
-Culture -Designers -Raw material Vendors -Publicity -Consumers |
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Why Forecasts Fail:
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-Failure to examine assumptions
-Limited expertise -Lack of imagination -Neglect of constraints -Excessive optimism -Reliance on mechanical extrapolation. -Premature closure -Overspecification |
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For a Forecast to be useful:
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-Clear Statement of purpose
-Clear assumptions -A time horizon -Attention to discontinuities -Adequate accounting for social and technological forces. |
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Forecaster
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Nonspecific title given to any individual within an organization who is responsible for trend identification and image.
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Futurists
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Make long-range forecasts for many industries.
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Fashion Forecasters
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Work for fashion forecasting services or the forecasting division within retail,manufacturing, or advertising firms.
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Fashion trend portfolio
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A series of visual borars, slides, videos or kits, projecting major trends in silhouettes, fabrics, colors, patterns, accessory treatments, catch phrases and theme ideas.
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Research
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Investigation of a subject in order to understand it in a detailed, accurate manner. Purpose is to discover fresh info about eh subject history, science, literature or other sources.
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Pure Research
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AKA: Fundamental Research, is scientific in nature and is conducted to find new knowledge about a subject.
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Action Research
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One-Time study with a very narrow application. Forecasters use action research to learn about consumers wants and needs. (i.e. Determine importance of a color or style)
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Fashion Count
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Method used to survey what people are currently wearing. Organized plan of counting and classifying apparel components.
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Market Research
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Gathering consumers' preferences. Promo executives depend on mkt. research to determine market segments and properly position their brand to consumers.
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Focus Group
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Used to studyconsumer likes and dislikes in the marketplace. Planned discussion designed to obtain percptions on defined area of interest.
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Distribution channel
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Path through which goods are dispersed from raw material producers to retailers.
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Primary Market
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Composed of raw material producers who sell to secondary market, manufacturers and designers.
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Color Story
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Collection of fashion, staple, warm, cool, neutral, and dark colors, coordinated for the upcoming season, and differnt from last season. Used to introduce accurate values and intensities of color.
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Secondary Market
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Refers to manufacturers, the distribution channel member between the primary market(raw material producers) and the tertiary market (retailers). Manufacturers are responsible for creating fashions using the forcasted colors and fabrics delivered by primary mkt.
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Tertiary Market
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Retailers who are responsible for communicating trends, developed previously by primary and secondary producers, to consumers. Based on info about their customers, retailers forecast what the best selling items will be for their sgtores in the up coming season.
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