Fashion Merchandising Midterm Chapters 1-7

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Fashion

The style of clothing and accessories worn at a particular time by a particular group of people.

Style

A specific characteristic or distinctive appearance of a garment.

Design

A particular or individual interpretation of a style.

High Fashion (Haute Couture)

New styles accepted by a limited number of fashion leaders first.

Mass Fashion

Styles widely accepted and sold at low prices in large quantities.

Knockoff

A line-for-line copy of a popular style.

Fad

Fashion with a very short life cycle.

Innovation Stage

New looks introduced; accepted by fashion leaders.

Culmination Stage

Fashion at peak popularity.

Decline Stage

Fashion loses consumer interest.

Prophetic Style

Unique new look accepted enthusiastically by fashion leaders.

Bell Curve

Common graph representing fashion life cycle.

Accelerating Factors

Leisure time, increased education, and widespread buying power speed up fashion cycles.

Downward-Flow Theory

Fashion moves from the upper class to lower classes; oldest theory.

Horizontal-Flow Theory

Fashion spreads across groups of similar social levels.

Upward-Flow Theory

Fashion starts with young or lower social groups and moves upward.

Fashion Leader

Someone whose advice or choices influence others.

Fashion Innovator

The first to adopt new fashions.

Fashion Marketing

Identifies consumer needs and influences the fashion business.

Fashion Merchandising

Planning to have the right merchandise, at the right time, quantities, prices, and for the right consumers.

Target Market

Specific group of customers a business aims to turn into regular buyers.

Market Segmentation

Dividing the total consumer market into smaller groups.

Psychographics

Study of lifestyles, interests, and opinions.

Demographics

Statistics such as age, gender, family size, and religion.

Geographics

Organized by country, city size, and population.

Disposable Income

Money left after necessities (food, housing, transportation).

Discretionary Income

Money left to save or spend freely.

Primary Level

Growers and producers of raw materials.

Secondary Level

Manufacturers, contractors, designers.

Retail Level

Stores and distributors who sell to the public.

Auxiliary Level

Works with all other levels simultaneously (e.g., media, advertising, consultants).

Sole Proprietorship

Single owner, keeps all profits.

Partnership

Two or more owners, easier formation, shared resources.

Corporation

Limited liability, can transfer ownership, greater financial capacity.

Horizontal Growth

Expanding in areas where the company already succeeds.

Vertical Growth

Expanding into new areas, like a manufacturer opening a retail store.

Licensing

Permission to use a company's name in exchange for a percentage of sales.

Royalty Fee

Payment to a licensor for permission to market under a license.

Sumptuary Laws

Laws that limit what clothing people can buy or wear.

Textile Safety Laws

Regulations ensuring clothing materials are safe.

Classic

A style that lasts for years without going out of fashion.

Trend

General direction of fashion over time.

Line

Assortment of new merchandise delivered to retailers at the same time.

Media Services

Styling, advertising, public relations, publicity (except "styling" is not always considered a media service in some contexts).