Terminology and Concepts in Fashion and Consumer Behavior Forecasting, Quizzes of Production and Operations Management

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TERM 1 forecasting DEFINITION 1 the process of anticipating future developments by watching for signals of change in current situations and events, and applying the forecasting frameworks to predict possible outcomes TERM 2 classic DEFINITION 2 an item or style that is introduced, gains visibility, generates multiple purchases and reaches a plateau level of widespread acceptance that persists over a long period of time TERM 3 fad DEFINITION 3 a trend of short duration that is introduced, gains rapid visibility and acceptance among a relatively small contingent of consumers, and fades quickly TERM 4 fashion DEFINITION 4 a style that is popular in the present or a set of trends that have been accepted by a wide audience TERM 5 trend DEFINITION 5 identifiable similarities across information sources related to styles, details, or other aspects of appearance characterized by a building awareness of this new look and an accelerating demand among consumers TERM 6 diffusion curve DEFINITION 6 a visualization of diffusion of innovation as a bell curve showing the progressive participation of consumers, beginning with innovators and early adopters, proceeding to majority adoption, and concluding with laggards TERM 7 pendulum swing DEFINITION 7 refers to the periodic movement of fashion between extremes TERM 8 long term forecasting DEFINITION 8 forecasting time line sufficient for decisions related to repositioning or extending product lines, initiating new businesses, reviving brand images, or planning new retail concepts TERM 9 short term forecasting DEFINITION 9 the process that begins 2-3 years before the arrival of merchandise in the retail store, a process that allows the segments of the textile/apparel pipeline to coordinate seasonal goods around looks that can be communicated to the customer through the press and stores TERM 10 cohorts DEFINITION 10 a group of consumers who share preferences and demographic characteristics--the basic unit of consumer research TERM 21 observability DEFINITION 21 in the consumer adoption process, the degree of visibility afforded an innovation TERM 22 trialability DEFINITION 22 in the consumer adoption process, an evaluation of the ease of testing out the innovation before making a decision TERM 23 word-of-mouth DEFINITION 23 the way trends spread among personal networks when one person visually or verbally recommends a new fashion to friends and acquaintances TERM 24 buzz DEFINITION 24 the way trends spread through the media; the excitement about something new, and a feeling of being in the know because of insider information TERM 25 hype DEFINITION 25 awareness and excitement about an innovation created through the purposeful efforts of public relations executives TERM 26 viral marketing DEFINITION 26 a type of internet marketing designed to encourage customers to try a software product, share it with the people they know, and thereby propagate the product on behalf of the company that created it--a digital form of word of mouth advertising TERM 27 analysis DEFINITION 27 the phase in forecasting when a trend or phenomenon is dissected to achieve a more complete understanding of its components TERM 28 synthesis DEFINITION 28 the phase in forecasting when the forecaster achieves a creative reintegration of the parts of a trend or phenomenon and projects future directions TERM 29 demographic DEFINITION 29 consumer characteristics such as age, gender, marital status, and occupation TERM 30 psychographic DEFINITION 30 aspects of lifestyles, consumer preferences, and consumer psychology that are used to identify a consumer segment by shared values, attitudes, preferences, and behaviors TERM 31 Consumer Segment DEFINITION 31 a portion of the population identified by demographic characteristics such as age, gender, ethnicity, and income TERM 32 geodemographics DEFINITION 32 an approach to consumer segmentation that links to consumer lifestyle and preferences with geographic location TERM 33 diffusion process DEFINITION 33 the process by which innovations spread within a social system, including the kind of consumers participating in each stage TERM 34 economic risk DEFINITION 34 the risk of performance problems after the purchase, the risk that the purchase price may reduce the ability to buy other products, or the risk that the price will fall after purchase TERM 35 S-curve DEFINITION 35 the cumulative form of the diffusion curve; interlocking sets of S-curves can be used to represent the spread of an innovation from one consumer segment to another or from one company to another TERM 46 trend analysis DEFINITION 46 the interaction of shifts in fashion, consumer lifestyles, and culture TERM 47 Nystroms framework DEFINITION 47 war or death of the world leader art vogues accidental events TERM 48 Rogers Consumer adoption process 1962 DEFINITION 48 awarenessinterestevaluationtrialadoption or rejection TERM 49 Rogers Consumer adoption process 1983 DEFINITION 49 knowledgepersuasiondecisionimplementationconfirmation TERM 50 Robertson adoption model DEFINITION 50 problem perceptionawarenesscomprehensionattitude formationlegitimationtrialadoptiondissonance