31 terms

Apparel product development

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product development
strategic creative technical production and distribution planning of goods. must have perceived value for a well defined customer group.
apparel pipeline
agriculture/fiber production
yarn production
textile production
apparel manufacturing
retailers
consumers/end users
apparel supply chain, auxiliary businesses
network of suppliers, apparel product developers, manufacturers, contractors, in all channels of distribution. ___________ improve efficiency.
primary level
farms/labs, fibers, yarns, fabrics
secondary level
designers, manufacturers, contractors, wholesalers, vendors
retail level
department, specialty, wholesale, online...stores --> consumers
auxiliary level
resident buying offices, fashion forecasters, specialists, magazines/newspapers, color labs, paternmaking, distribution/warehousing
growth industry
produce products that have NOT yet saturated the market (mostly international)
mature industry
produce products with relatively stable sales through the year (US industries) high level of competition
brand growth differential advantage
competitive edge of brand based on price, quality, innovation/unique features, customer service
merger
blending one company into another
consolidation
combining 2 companies resulting in a new one
takeover
one company takes over another through purchase of shares/stocks
conglomerates
diversified companies involved w/ different lines of business
vertical integration
consolidates supply chain by acquiring a company at another stage in supply chain (ex: Target's Mommiso, JC Penny's Arizona, Zara is "fast fashion")
horizontal integration
acquiring a company that makes/sells similar products to expand market penetration and reduce competition
diversification
firm expands product mix to capitalize on brand recognition, increase, sales, enhance efficiencies, for greater profit. Achieved through licensing (ex: RL produces linens and pain colors)
wholesale brands
sold at wholesale to retailers that carry other wholesale brands. carried at department/speciality/discount stores. not brand name, cheaper, distribute online, signature or outlet stores
private brands
developed and merchandised for exclusive distribution by a particular retailer
private label
private brands developed to compete w/ wholesale brands, developed by retailers own product development team (ex: Targer Mommiso)
store brand
developed for stores that sell only private brands
licensing/agreement
exclusive rights to a brand for an agreed upon time. used by companies to create perceived differences in their product
licensor/licensee
advantages:
_____ - brand extension to other categories of merchandise, expand product line, less work
_____ - automatic brand identification, trusted for quality and fashion credibility, marketing shortcut for launching new products (brand loyalty)
licensor/licensee
disadvantages:
_____- overuse may saturate the market, risk of loss of control
_____- timing important so must be experts in understanding demands, expense of controlling distribution and prevent counterfeiting
brand extension
brands or designers expand by contracting w/ companies that can add new products to the well known brand (ex: jewelry, shoes, etc)
co-branded products
feel of designers, but modified price point (ex: BCBG for Nordstrom is cheaper)
mass customization
mass production technology to create products and services for individuals
business plan
a _______ are aims, objectives, and strategy for the future
strategic plan, merchandising planning, creative, technical, production planning
business plan components
strategic plan
focused on a company's business direction (brand image, product mix, price points, channels of distribution, strategic partnership, growth) develops financial plan and budget
merchandise planning
process of planning, developing, and presenting product lines for identified target markets w/ regard to pricing, assorting, styling, and timing