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Item/style that is introduced and widely accepted until it hits a plateau, nothing extreme, but desirable
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Group of consumers who share preferences and demographic characteristics (basic unit of human research)
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| Define Collective Selection |
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Idea that masses of people choose styles that click with the spirit of the times, forming a feedback loop between fashion industry and consumer
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Reoccuring patterns in styles or prices with a fixed, reg alteration between highs and lows
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Trend of short duration, gains rapid acceptance and dies quickly after
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A style popular in the present or set of trends accepted by wide audience
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Definition
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Process of anticipating future trends (includes watching for signals of change and applying to predict possible outcomes)
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People that filter innovative ideas and determine which will be widely accepted
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People that filter innovative ideas and determine which will be widely accepted
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Definition
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Forecasting timeline that is long term
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Term
| Define Long Wave Phenomenon |
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Definition
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A reoccurring pattern in price/styles where movement rises and falls
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Trend so fundamental it indicates critical reconstructing in culture
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Definition
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Periodic movement of fashion from one extreme to the next
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| Define Short-term forecasting |
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Definition
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Process that begins 2-3 years before arrival of merchandise to store
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Focus on attracting a certain specific potential purchaser
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Identifiable similarities between styles, details, etc. that is accelerating demand by consumers
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Definition
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Someone or something that represents the spirit of the times
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Term
| What are the three misconceptions about fashion? |
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Definition
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Designers and retails dictate fashion, fashion is mysterious and unpredictable, someone must dress fashionably to know about fashion
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Term
| Who uses forecasting? (5 groups) |
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Definition
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Designers, product developers, merchandisers, marketers, and promotional executives
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Term
| How does forecasting create a competitive advantage? |
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Definition
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Continuous competition for the consumer's attention and money, long term projects studying that cohort's buying habits
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Term
| What should a trend forecast identify? |
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Definition
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Qualitative and quantitative elements (looks at cultural indicators and sales forecasts)
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Term
| Identify Nystrom’s factors that guide the direction of fashion based on the zeitgeist. (5 factors) |
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Definition
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Dominating events, ideals, social groups, attitude, and technology
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Term
| Where does the power of the zeitgeist lie? |
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Definition
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It's ability to coordinate across product categories.
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Term
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Definition
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Phase in forecasting when a trend is dissected to be understood
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Term
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Definition
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Small group of innovators who begin diffusion process by spreading trends visually or verbally
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Definition
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When a trend catches the attention of many, and manufacturers rush to make the same thing
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Term
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Definition
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Estimated success of an innovation based on the cohort's norms and values
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Term
| Define Consumer Adoption Process |
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Definition
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The mental process used by individuals to decide between adopting or rejecting a trend
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Definition
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A portion of the population identified by demographics (age, gender, ethnicity, and income)
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Term
| Define Consumer Segmentation |
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Definition
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The practice of dividing the total population into homogeneous groups that can be targeted with products
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