FASH 351 Test 1 | Verified with 100% Correct Answers

FASH 351 Test 1 | Verified with 100% Correct Answers Which of the following statements about the global fashion industry is FALSE? The global fashion industry is primarily comprised of very large multinational corporations that offer similar merchandise around the world. Which of the following is NOT a key aspect of design of fashion products? design is designer-centered with a focus on addressing needs, wants, or problems of the designer through the creative process. What refers to the management processes related to buying and selling fashion products; that is, product assortment planning, acquisition, pricing, presentation, and sales to fulfill a company's financial goals. Merchandising The textile industry is organized around four basic components of textile production, including all of the following EXCEPT: Garment Construction Which of the following statements about fibers is TRUE? fibers are divided into two primary divisions: natural fibers and manufactured fibers Weaving and knitting are the two most common methods of what? fabric construction Which of the following statements about the ready-to-wear (RTW) industry is FALSE? In France, the RTW industry is known as HAUTE COUTURE What are the businesses that make a profit by selling goods and services to the ultimate consumer? Retailers WWW, apparel magazines, and sourcing journal are examples of? trade publications Which of the following is NOT an example of a trade association? the business of fashion Fashion products, whether they are cars, home decor, or apparel, are a reflection of economic, cultural, social, and psychological influences. true The term soft goods is used to describe the value-added aspects of fashion product supply chains. False The term marketing refers to the management process that connects product offerings with the values, wants, needs, and behaviors of customers. True Although merchandising is most often associated with the buying and selling operations of fashion retailers, merchandising processes happen throughout the fashion supply chain. True Cotton, wool, silk, bamboo, and rayon are all examples of natural fibers. False Textile mills are found throughout the world, producing a variety of fabrics for multiple end uses. True Textile converters take greige goods and finish them with finishes that enhance the aesthetic, performance, or color characteristics of the materials. True Although this was evident in the past, today few fashion brand companies are contractors. False The phase search for the cheap needle refers to the management processes that assures that manufacturing facilities around the world have the latest technologies. False Fast fashion retailers including H&M, Zara, and UNIZLO were all in operation by the mid 1980s. True Vogue, Elle, and apparel magazine are examples of consumer publications with a focus on fashion. False The US and the UK are the only countries with fashion-related trade associations. False Take publications in the fashion industries, most typically print and/or digital magazines, newspapers, and newsletters, are geared to and used by professionals in the industries. true A fashion brand company's what is a brief description of the company's fundamental purpose for its customers and society? mission statement Which of the following would NOT be an example of a business goal for a fashion brand company? we strive to be the best company in the world within our product category Fashion brand companies compete with one another for which refers to the percentage of the total volume a particular company or brand captures. market share The most common form of competition in the fashion industry is what? monopolistic competition Which of the following is NOT and example of SPA? Gap The creation of a strong what is determined by the company through the company's brand strategy including logo, advertising, and promotional messaging created by the company. brand identity Which of the following statements about the price zones of fashion brands in TRUE? SPA brands can be found at several price zones. What are affiliated with a parent fashion brand company but carry a different name than the parent company. sub-brands Professionals in the what area of a fashion brand company forecast fashion trends and trends in consumer purchasing behavior in order to develop color, fabric, and garment silhouette directions for the company's merchandise offerings. research and merchandising What refers to the strategy used by fashion brand companies to combine apparel and accessories in their product offerings and visual merchandising? cross-merchandising Because of the fast-paced nature of the fashion industry, the mission statements of fashion brand companies change on a regular basis, typically two to three times per year. False Only fashion brand companies at the luxury price zone articulate business goals, business objectives, and social objectives. False It is important for the business strategies of a fashion brand company to align with its mission. True Business objectives for a fashion brand company may include strategies as to how the company might increase sales, decrease expenses, or raise funds for growth. True Because of the competitive nature of the fashion industry, pure competition is the most common type of the market system found in the industry. False Fashion brand companies compete on factors including price of merchandise, quality of merchandise, services offered, social benefit of merchandise, and innovation. True Department stores often use private-label brands to differentiate themselves from other department stores. True Brand identity and brand image of a fashion brand are the same thing. False Brand differentiation results in creating distinct brand images in the minds of consumers. True Diffusion brands are typically at the bridge price zone. True Because of the decline in the number of department stores, currently, very few fashion brands can be found at the moderate price zone. False Zara, H&M, and Mango are examples of fast fashion SPA brands. True Fashion companies that use a what supply chain strategy to own and control several stages of production or several sectors of their supply chains? vertical integration Which of the following is NOT an advantage of the vertical integration supply chain strategy? greater ability to use dedicated contractors for product development and manufacturing