CSU AM 101 Exam #1 Questions and Answers 2024

Fashion definition - Style of Clothing, Accessories, Cosmetics, HairstylesWorn at a particular timeBy a particular group of people Style - the way an individual expresses themselves through aesthetic choices such as their clothing, accessories, hairstyle, and the way they put an outfit together Design - A particular or individual interpretation, version, or treatment of a specific style taste - the prevailing opinion of what is and is not attractive and appropriate for a given person and occasion classic - satisfies a basic need and remains in general fashion acceptance for a long period of time fad - a fashion that suddenly sweeps into popularity, affects a limited part of the total population, and then quickly disappears high fashion - a new style accepted by a limited number of fashion leaders who want to be the first to adopt changes and innovation in fashion trend - a general direction in which something is developing or changing Innovation Stages - Introduction - Designers and Fashion Innovators Rise - Fashion Leaders purchase from retailers Culmination Stages - Acceleration - Fashion followers purchase in moderate price Mass Acceptance - Fashion followers purchase from mass merchants Decline Stages - Decline - Fashion followers purchase at reduced price from discountersObsolescence - No one is buying 5 P's of Merchandising - Product, Price, Promotion, Place, People 4 Components of Fashion - Color, Texture, Silhouette, Details Market Segmentation - Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs demographics - age, sex, family, income, occupation, education, religion, race psychographics - customer purchase patterns, social class, values, lifestyle, personality, preferences geographics - where does the customer live Niche Market - concentrating marketing efforts on a small, specific, well-defined segment of the population. Created by identifying needs, wants, and requirements of this consumer segment and developing and delivering goods or service to satisfy them. Gross income - the total amount of income from wages before any payroll deductions disposable personal income - take home pay after taxes are paid Discretionary Income - leftover after basic budget expenses Designer (contemporary) - the latest in new styling being avante garde and trendy. Targeted for younger fashion-forward consumers, sizing is typically limited to juniors and misses. Bridge - Bridge is the gap between contemporary and designer labelsbetter - This is usually the lowest price point category for what consumers consider a "designer" line such as Jones New York and Liz Claiborne. moderate - Medium priced merchandise a step above budget. This is the price classification that most goods fall into. Mass - This is the lowest price classification in which one would find advertised brand names. Prices are below average. Staple Colors - Black, White, Beige, Grey, Navy Fashion colors - predicted 18 to 24 ahead of product in store