Product development midterm Flashcards
(95 cards)
Apparel PD
- the creation and realization of a garment from its initial concept to its sale to consumers
- have to think about the brand AND the customer
knocking off
- legal
- see something on runway, trickles down
- everybody does it
pros of private label
- higher profit
- exclusivity
- quality control
cons of private label
- no wholesaler support
- long lead times
- lack of customer brand recognition
- initial unknown demand
target customer
- a specific group of individuals at which a company aims its products and services
- describe them with as much info as possible
- can change, need to be specific
story telling
- story needs to be told but may not always be exactly the same
- creating a story to stay connected to the customer
Long lead times cause what
many missed opportunities in fashion
fast fashion/speed sourcing
- quick manufacturing at an affordable price
- as seen with some of our favorite retailers
techniques to shorten lead times
- trigger dates: the last possible date for an individual decision to be made without holding up the overall process
- local production: try to eliminate various points of production
ways to buy extra time with deadlines
- piece dyed fabrics
- garment dyed apparel
- delay packing assortment
most common definitions of merchandising
having the:
- right style
- at the right price
- in the right place
- at the right time
- in the right quantity
macro trends
- economic trends
- demographics, psychographics
- industry trends
- competitive landscape
9 features of apparel
- color
- print or pattern
- fiber content
- fabric construction
- texture/surface treatment
- silhouette
- garment construction
- fit/size specifications
- design details/trims
first question when creating a line
-whats selling, whats not, has the target customer changed
assortment planning
product managers are responsible for
- planning the number of styles to be developed
- the quantities, and the overall assortment
two different assortment approaches
assortment planning by
- group
- item
assortment planning by group
- assortment including both tops and bottoms is developed around a related color theme
- entire group will be delivered and shown on floor at same time
- encourages a higher UPT
assortment planning by item
- focus on specific styles rather than presenting a color-related collection
- key items are presented and bought in large quantities, in wide range of colors
- key items replenished throughout season to ensure inventory is available in store
- other styles included to ensure presence of “fashion” on the floor
ratios
-its important to assort the styles in proper proportions to ensure profitability
common ratios to look at in GROUP collection buy
- tops to bottoms style
- fashion to core styles
- basic colors to fashion colors
- long sleeve to short sleeve
common ratios to look at in ITEM collection buy
- buyer will look at similar ratios to group collection
- quantity per style to entire purchase
- ratio by end use (casual vs dressy, day vs evening)
fashion trend
- an overall “look” that is becoming popular
- trends can be reflected in a variety of items and classifications
competitive shopping
- shopping upscale stores
- shopping competing stores
trickle down theory
a style must first be adopted by people at the top of the social pyramid. The style then gradually wins acceptance at progressively lower social levels