Product Development Chapter. 1 and 2 Defs

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Terms in this set (...)

Mass Customization
The utilization of mass production techniques to create products based on individual customer demand
Fashion change
Changes in color, styling, fabrication, silhouette, and performance to reflect fashion trends.
Seasonal Change
Demand for change in styling and/or materials related to the calendar yr (i.e. weather changes, seasonal events, cultural traditions).
Quality
Essential character of a product/service; perceived level of value
Quality Features
Essential characteristics that are perceived as contributing to quality
Perceived Quality
Composite of intrinsic & extrinsic cues to quality
Intrinsic Quality
Product characteristics created during product manufacturing. Depend on styling, fit, materials, and construction.
Intrinsic Cues
Innate & essential parts or inherent nature of a garment
Extrinsic Cues
Indicators of quality originating from outside the product (i.e. prices, brand names, visual merchandising techniques, advertising).
Product Development
Design & engineering of products for a specific target market that will be serviceable, producible, salable & profitable, reaching the marketplace when consumers are ready to buy.
Brand
Represents the reputation of a product/product line and/or company that is conveyed to consumers through brand image, word mark, logo, product design and quality, marketing and promotion, distribution of goods and customer service.
Lifestyle Brand
Expands beyond their origins in a single product category to include additional apparel and accessories categories, perfumes, cosmetics, or home products.
Brand Extension
Expanding a brand's reach by expanding a brand's assortment—launching a women's brand into men's wear or children's wear or vice versa; to launch a new product category or service under and existing brand label.
Branded
Product sold under a trademarked name to retailers that sell other branded products.
Private Brand
Products developed under a trademarked name and owned by a retailer for the purpose of increasing margin and competing with branded products. Distribution and sale of private brand products is restricted to the retailer/company developing them. Private brands are comprised of private label products and store brands.
Private Label Products
Merchandise developed by a retailer to sell in their stores along side branded products.
Store Brands
Merchandise developed by a retailer under the same trademarked name as the store; only private brand merchandise is sold.
Licensed Brand
Products developed as the result of a contractual agreement between 2 companies granting exclusive permission to a manufacturer or retailer to develop, produce & sell products using another firm's trademarked name, logo, image, character, or exclusive brand name.
Customized Products
Products made to consumer specifications utilizing mass production technology for a market of one; mass customization.
Brand Portfolio
Multiple brands offered by one company to increase market share.
Brand Strategy
A strategic plan for the development of a brand to enable a company to meet its objectives based on characteristics and needs of the target customer and their lifestyle.
Market
The sales potential for a particular type of goods; the process of getting buyers & sellers together to exchange ownership of goods.
Differential Advantage
A company's competitive edge such as lower price, superior quality or unique product features.
Market Share
A firm's percentage of total sales in a market.
Market Power
Ability of a firm to control price & quality of products in a market
Inside Shop
Manufacturer owned & operated factory responsible for apparel from start to finish.
Outside Shop
Independent contractor hired by the manufacturer to do part or all of the work producing a garment.
Contractor
Firms that provide sewing or specialty services to apparel manufacturers, retailers, or govt. agencies.
Subcontractor or Specialty Contractor
Provide machinery & skills that general contractors may not possess (i.e. special operations such as belt making, pleating, quilting, printing).
CMT
Contractor who does all the work is called a cut, make & trim/sew (CMT)
Jobbers
Independent contractors hired by a manufacturer to do all or part of a garment.
Factors
Credit agents or financial middlemen that finance suppliers and manufacturers, and assume responsibility for billing and accounts receivables between various members of the supply chain.
Testing Labs
In-house or contracted firms that test fabrics, findings, and finished products to make sure they meet industry/government standards and specifications.
Full-package Manufacturing
Services that supply both fabric and product production for a product developer, either domestically or offshore.
Diversification
A growth strategy used by firms to expand their product mix in order to capitalize on brand recognition, to increase sales, and enhance profit.
PDM or PLM
Product data management or product line management are business technology systems that integrate the graphics and information used in the product development cycle with the tools that manage business and manufacturing systems through relational databases and internet interfaces.
Push System or Push Through
Based on the manufacturers' anticipation of consumer demand; Manufacturer driven.
Pull System or Push Through
Based on needs of the consumer; Consumer driven.
Fast Fashion
Also known as Quick Response or Speed-to-Market (terms used in the 1980s and 1990s) is the process of moving goods through the supply chain (from fiber to finished product delivered to the retailer and available to the consumer) that eliminates or reduces bottlenecks in the process and streamlines the response time. Items that are slow sellers are pulled and replaced with "hot" items that are fast sellers—increasing turn time.
Design
A specific or unique version of a style; innovative aspect of product development.
Style
Characteristics or the distinctive appearance of an item; unique piece of merchandise in a product line identified by a style number.
Creative Design
Pre-adoption processes involving development of line concepts, creation of new designs, and presentation of merchandise groups for line adoption.
Technical Design
Post-adoption processes required to perfect designs into styles and make the styles producible at the desired quality level.
Color Standard
A color selected by a product developer or manufacturer to be reproduced along the production chain. This selected color becomes the Color Standard.
Lab Dip
Samples of dyed fabric or component parts created to match color standards as closely as possible.
Functional
Protection, thermal comfort, fit, ease of movement
Expressive
Communicative & symbolic aspects of dress. Statement of individuality
Aesthetic
Human desire for beauty. Relate to design elements such as line, form, color, texture, & pattern.
Target Market
A well defined group of customers identified as having similar needs & wants for certain products or services that a company wants to sell to.
Core Customers
Foundation of a firms business; people identified as central to the target market.
Fringe Customers
Occasional shoppers; peripheral portion of target market-potential sales growth.
Marketing
Responsible for establishing market position for a firm or brand through advertising and promotional objectives, sales goals, creating marketing programs and tools, selling products, and gathering data relative to target consumers.
Merchandising
The planning, development, and presentation of a product line.
Mass Market Segment
Middle income & some fringe from lower & upper income classes.
Multiple-Segment
More than one target market (junior line & preteen).
Niche Market Segment
Narrowly defined, very specialized group.
Market Penetration
Expanding sales of current products through advertising & promotion.
Market Development
Identifying new customers for current products.
Diversification
Developing new products aimed at new customers.
Market Positioning
Provide more benefits from product than the competition.
Push-Through
Manufacturer driven.
Pull-Through
Customer driven.
Marketing Calendar
Identifies key dates in the wholesale marketing of fashion/seasonal product lines & is the basis for the timing of all other schedules.
Line Preview
Two weeks prior to line release when the line is presented to the sales staff by the merchandising & marketing divisions.
Line Release or Style Release
Full line samples (or individual) & sales samples are completed & ready for market.
Start to Ship
Identifies the date merchandise will begin shipping.
Season Ship Complete
Identifies when merchandise will stop shipping.
Counter Sample
The first prototype of a product constructed from a pattern.
Production Sample
A prototype created using the construction techniques, fabrics, trims, etc. that will be used for production.