OIM 210 Exam 1 Guide with Questions and Answers

OIM 210 Exam 1 Guide with Questions and Answers How does Zara differ from its competitors in converting ideas into products? a. Zara concepts appear in stores in fifteen days on average, compared to rivals who receive new styles once or twice a season. b. Zara's ideas are inspired by social media, compared to the intrinsic design processes followed by its competitors. c. Zara's design and concept teams use data from customers to predict fashion trends many months into the future and stock up inventory accordingly, as opposed to its rivals. d. Collaborations with celebrities help Zara churn out a limited, yet profitable, volume of items every year, while rivals produce a higher volume of less fashionable items. e. By employing star designers, Zara manages to conceive a wider range of fashion trends than its rivals. ANSWER Zara concepts appear in stores in fifteen days on average, compared to rivals who receive new styles once or twice a season In retail in general and fashion in particular, having _____ is considered the kiss of death a. excess inventory b. too many storefronts c. a large labor force d. limited production runs e. dispersed production facilities ANSWER Excess inventory A firm is said to be _____ when it attempts to match the benefits of a successful position while maintaining its existing position ANSWER Straddling