Core Concepts in Fashion

Slides:



Advertisements
Similar presentations
The Fashion Cycle.
Advertisements

The Fashion Cycle.
Fashion Forecasting. Know your Customer!! Government sources of information Business publications Resident buying offices Non-competing stores Vendors.
Fashion Economic Influences Economics. Fashion’s Impact on the Economy 1.3 million workers in 2005 producing more than $50 Billion in products 100,000.
Microcultures CHAPTER 9 BABIN / HARRIS CB PART 3
Copyright © 2002 by Nelson, a division of Thomson Canada Limited. Chapter chapter 3 Prepared by Angela Zigras, Seneca College Deborah Baker, Texas.
McGraw-Hill © 2008 The McGraw-Hill Companies, Inc. All rights reserved. Trend Forecasting Chapter Five Core Concepts in Fashion by Laura Portolese Dias.
Frings: Fashion From Concept to Consumer, 9 th ed. © 2008 Pearson Education, Upper Saddle River, NJ All Rights Reserved.
Chapter 2 the marketing plan Section 2.1 Marketing Planning
©2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
2.01 – Fashion Forecasting. Fashion forecasting ***Foreseeing and predicting fashion trends early enough to allow time for production to meet the consumer.
Chapter 2 Consumer Demand and Fashion Marketing. Fashion From Concept to Consumer, 8/e© 2005 Pearson Education, Inc. Gini Frings Upper Saddle River, New.
Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 04 Managing in the Global Environment.
Managing in the Global Environment Chapter Four Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
1 Chapter 4: The Marketing Environment Designed & Prepared by Laura Rush B-books, Ltd. Introduction to Copyright Cengage Learning 2013 All Rights Reserved.
Fashion and Economics.
Understanding Fashion Movement
27 year old – pay off debt in 2 years investor/personal-finance/home-cents/this- 27-year-old-repaid in-debt---in-
Entrepreneurship CHAPTER 4 SECTION 1.  Businesses sell and buy goods and services to and from other countries.  Global economy – interconnected economies.
What is the sale price of an item that is $ and is 15% off?
Marketing Strategies Chapter 11.1 Market to Me!. Meeting Consumer Needs 0 Marketing: the process of planning, pricing, promoting, selling, and distributing.
Essential Standard1.00 Understand the role of business in the global economy. 1.
Marketing and the Marketing Concept 1.1
Building Customer Relationships Through Effective Marketing
Market Segmentation Standard 2.
Fashion Merchandising
Lecture on Environmental Scanning
MANAGEMENT RICHARD L. DAFT.
MANAGEMENT RICHARD L. DAFT.
Chapter 2 The Marketing Plan
Fashion Merchandising 3.0 Understanding Fashion Trends and Forecasting
Fashion Movement. Fashion Movement The original designer to the final consumer, benefit from and encourage the movement of fashion.   Advertising and.
Understanding Economics Advanced Marketing
Fashion Marketing: INFO Required!
The Meaning of Entrepreneurship
Chapter 6 Scanning the Marketing Environment by
Consumers, Consumption, and Well-Being
Fashion Merchandising
Forms of Business Organizations
TREND FORECASTING AND FASHION MEDIA
Fashion Merchandising 3.00 Understanding fashion trend and forecasting
Market Planning Market Segmentation.
The External Marketing Environment
Chapter 2 the marketing plan Section 2.1 Marketing Planning
Section 2.2 Market Segmentation
Fashion Merchandising 3.00 Understanding fashion trend and forecasting
Market Segmentation What You’ll Learn
The marketing plan Chapter 2.
Section 2.2 – Market Segmentation What You’ll Learn
3 Collecting Information and Forecasting Demand
Fashion Research and Resources
What Is Marketing?.
External Influences on Business
UNIT B EVOLUTION AND MOVEMENT OF FASHION
THE WORLD OF FASHION MERCHANDISING
Fashion Entrepreneurs
Free Market systems, competition & supply and Demand concepts
Chapter 2 the marketing plan Section 2.1 Marketing Planning
Gathering Information and Scanning the Environment
Marketing Research.
Fashion Marketing: INFO Required!
Global Trade and Regulations
Unit 3 Some Elements of Culture
Marketing Segmentation
The Value of Market Research
The Fashion Cycle Meghan Hatcher for CTAE Resource Network July, 2009.
Marketing Segmentation
3 Collecting Information and Forecasting Demand
Sociology Chapter 8 Review
What affects our business from the outside?
Presentation transcript:

Core Concepts in Fashion Chapter Five

Chapter Five Fashion forecasting is the process of predicting new trends Can use a variety of tools to predict Newspapers, magazines

Chapter Five Trickle-up theory Thorstein Veblen George Simmel First discussed the idea of social classes George Simmel Believed in order for a fashion to become accepted, it first had to be accepted by upper classes Theory suggests because people in the lower classes prefer to associate themselves with upper class, they would eventually adopt the fashion of upper class. At this point in time, the fashion would be rejected by the upper class Theory is hard to apply today because there are many more classes and social structure is much different

Chapter Five Trickle up theory Sometimes called the “bottom up theory” Fashion begins in lower classes of society and trickles up, then is eventually copied by upper classes Example: Grunge fashion

Chapter Five Trickle across theory Sometimes called the horizontal flow theory Believes that fashion flows in between social groups Sometimes lower classes will start trends, and sometimes upper classes will start trends Mass communication, such as the internet allows people to see all forms of fashion

Chapter Five External Forces effecting fashion Social Economic Political Legal Technological Global

Chapter Five Social issues effecting fashion Age View on age has changed People in the upper years of their life are more active No longer an “expected” outfit for someone based solely on age Women in the workforce Needed new types of clothing as women entered the workforce

Chapter Five Social Issues effecting fashion Men and their appearance Acceptable for men to care about their appearance Special creams, lotion and clothing developed for men in recent years Ethnic influences Ethnic clothing can inspire new designs Immigrant population of United States brings many forms of fashion together

Chapter Five Economic Forces effecting fashion Consumer income Total income The amount a person makes from all sources Personal income The total amount of income less social security taxes Disposable income The total amount of income less federal income taxes, sales tax and property tax Discretionary income The amount left over after paying all taxes and paying for necessities like food and rent

Chapter Five Economic Forces effecting fashion Purchasing power The amount of goods which can be purchased for the same amount of money in a given time period Things effecting purchasing power: Interest rates Inflation Recessions and layoffs

Chapter Five Legal forces effecting fashion Mergers or acquisition The sale of a company to another Importing regulations Importing is when a good from one country is sent to another country Requirements for labeling Concerns how products should be labeled For example, requirements for care of garment

Chapter Five Political forces effecting fashion Clothing can change depending on which party is in office Technological forces effecting fashion Ability to communicate new fashions quicker through internet Use of computers for garment design Online shopping

Chapter Five Global Issues effecting fashion Trade agreements For example, NAFTA made it possible to have clothing made in Mexico and ship to the United States at no additional cost

Chapter Five Tools to predict fashion Primary data Secondary data Data which is researched and gathered For example, watching for new trends at a local club would be considered primary data Secondary data Newspapers, magazines, websites-any type of data which was not gathered by you

Chapter Five Collection reports Trend reports Expensive but helpful Shows sketches, textile selection and other important data about a designer collection Trend reports Similar to collection reports, but focus on a variety of designers, rather than just one designer

Chapter Five Color services Websites Trade publications Research and predict new upcoming colors Websites Can research websites to find out about street trends Trade publications Any publication made for a specific industry Women’s Wear Daily is an example

Chapter Five Music/Movies/Television Street Fashion Watching what stars are wearing can be a good predictor of new fashions Street Fashion Watching what the everyday trendsetter is wearing can help predict fashion