Fashion Marketing Final

What does 'business ethics' refer to?

Learning what is right and wrong in the workplace, however there is no universal definition.

Name an area of ethical concern involving buyer conflicts of interest.

Gifts, services, payments.

What risks do companies face regarding vendor standards?

Risk of image harm if substandard working conditions are made public.

What is a common unethical pricing strategy?

Misleading 'regular' prices.

What could result from bait and switch advertising practices?

Potential legal penalty and loss of customer trust.

List one ethical dilemma that might arise in the workplace.

Exaggerating credentials on resumes.

Which company is known for its eco-friendly and sustainable fashion approach?

Patagonia.

What are the steps in the hiring process?

Resume, application form, preliminary interview, reference checks, testing, final interviews.

What is high staff turnover a sign of?

Internal problems within the company.

Why are walk-ins often productive employees?

They have self-motivation and take initiative.

What are the three types of merchandise receiving methods?

In-house, centralized, and regional receiving.

What are the types of checks performed during merchandise checking procedures?

Direct, blind, and semi-blind checks.

Why is theft a major issue in retail?

It leads to significant losses and higher costs for prevention measures.

What is 'loss prevention' in retail?

Strategies and measures put in place to protect against theft and losses.

What is one way to calculate markup?

Retail price minus cost equals markup.

What is typically the first step buyers take in planning future purchases?

Looking at last year's sales records.

What does the term 'markup percent' refer to?

How much more the item sells for versus the original cost.

Give an example of a reason for markdowns.

Buying errors or misjudgment of popularity.

What is an omni-channel strategy?

A seamless approach to the consumer experience through all available shopping channels.

What does SEO marketing stand for?

Search engine optimization.

What is necessary to build a strong communication identity?

Consistent and aligned messaging that reinforces the brand's vision.

What is the 'inclusivity paradox' in brand communication?

Balancing exclusivity of the message with accessibility of the medium.