314 Exam 1 Re-take

Opinion leaders are individuals who are highly knowledgeable and influential in a particular field or industry. They are often sought after for their expertise and advice, making them the consumer type most frequently asked by others for advice about styles. This is because opinion leaders have a strong presence and following, and their opinions and recommendations hold significant weight among their peers and followers. They are trendsetters and have the ability to shape and influence the preferences and choices of others.

The correct answer is complexity. When a new innovation is complex and requires consumers to learn how to use it, it becomes a barrier to adoption. Consumers may be hesitant to adopt the innovation if they feel overwhelmed by its complexity and the effort required to understand and use it. This can hinder the widespread adoption and acceptance of the innovation in the market.

The statement suggests that an individual can make predictions or forecasts based on their personal observations of friends and family, as well as their media habits. This implies that by being aware of the behavior and preferences of those around them, and by staying informed through various forms of media, individuals can gather information that can help them make predictions about future events or trends. Therefore, the answer is true.

Fashion is indeed a complex phenomenon that can be studied and analyzed from various perspectives such as psychological, sociological, cultural, and commercial. From a psychological standpoint, fashion can be seen as a means of self-expression and identity formation. Sociologically, it can be examined in terms of its impact on social interactions and group dynamics. Culturally, fashion reflects the values, beliefs, and traditions of a particular society or community. Lastly, fashion is also a thriving industry with significant economic implications. Therefore, the statement is true as it acknowledges the multifaceted nature of fashion.

Consumers who share characteristics are called cohorts. Cohorts are groups of individuals who have similar characteristics, behaviors, or experiences. They are often used as the basic unit of consumer research because studying cohorts allows researchers to identify and understand patterns and trends within specific groups. By studying cohorts, researchers can gain insights into consumer behavior, preferences, and buying habits, which can be valuable for developing marketing strategies and targeting specific consumer segments.

Fashion often involves revealing and concealing different parts of the body. As certain areas become more exposed and emphasized, they can become erogenous zones, which are highly sensitive and sexually arousing. This answer suggests that fashion trends play a role in highlighting specific body parts, thus influencing societal perceptions of eroticism and sensuality.

The concept of a pendulum is used as a framework to explain the prediction of back and forth swings between extremes. A pendulum swings from one extreme to another, constantly oscillating between two points. This idea can be applied to various situations or phenomena where there is a recurring pattern of movement or fluctuation between opposite ends. The use of the term "pendulum" in this context suggests a repetitive and cyclical nature of the phenomenon being described.

Counter trends are trends that go against or contradict another trend. They are characterized by moving in the opposite direction or having different patterns compared to the main trend. Counter trends can provide valuable insights and opportunities for investors and analysts to identify potential reversals or changes in market direction. By recognizing counter trends, individuals can make informed decisions and adjust their strategies accordingly to take advantage of these opposing movements.

A fad is a phenomenon that gains sudden popularity but quickly loses its appeal. It is characterized by a short-lived trend that captures the attention of a specific group or society for a brief period. Fads often emerge rapidly, driven by social influence and media exposure. However, they tend to fade away just as quickly as they appeared, as people's interest shifts to the next new thing. Fads can be seen in various areas such as fashion, music, technology, and even social media challenges.

Trends typically start in the fringe, where they are embraced by a small group of early adopters. As the trend gains momentum and popularity, it becomes trendy and starts to be noticed by a larger audience. Finally, the trend reaches the mainstream, where it becomes widely accepted and adopted by the majority of people.

The term "cultural drift" refers to the gradual and continuous changes in the beliefs, values, attitudes, and behaviors of a society over time. It suggests that societies are constantly evolving and shifting in their cultural practices and norms. Long-term forecasters analyze these changes to identify the overall direction in which a society is moving. By understanding cultural drift, they can anticipate future trends and make predictions about the future of a society.

Target marketing is the process of dividing the total market into different segments based on consumer characteristics, selecting one or more of these segments, and then developing products that specifically meet the needs and preferences of those selected segments. This approach allows companies to focus their resources and efforts on specific groups of consumers who are most likely to be interested in and purchase their products or services. By tailoring their marketing strategies to these targeted segments, companies can increase their chances of success and effectively meet the unique needs of their customers.

Psychographics refers to the process of identifying consumer segments based on their shared values, attitudes, behaviors, and preferences. This involves analyzing psychological factors such as personality traits, interests, lifestyles, and motivations to understand consumers on a deeper level. By understanding psychographics, marketers can create targeted marketing strategies that resonate with specific consumer segments, leading to more effective communication and higher chances of success.

Megatrends refer to significant and long-lasting trends that have a profound impact on various aspects of society, such as technology, economy, culture, and demographics. These trends typically span over a decade or more and have the potential to shape the future. They are characterized by their magnitude, influence, and widespread effects, making them important and noticeable over an extended period of time.

Short-term forecasting is the correct answer because it refers to the time span for the fashion industry's process of coordinating color, textile design, and styles for seasonal goods. This type of forecasting involves predicting trends and consumer preferences in the near future, typically within the next few months or up to one year. It helps fashion companies plan their production, inventory, and marketing strategies to meet the demands of the market and stay ahead of their competitors.

Fashion leaders are individuals or groups that have a significant impact on the trends and styles in the fashion industry. This includes influential individuals who set trends, social groups that create their own fashion subcultures, celebrities who are often seen as style icons, and retailers who have the power to shape consumer preferences through their selection of clothing and accessories. Therefore, it is true that fashion leaders include influential individuals, social groups, celebrities, and retailers.

The correct answer is curves, the pendulum swing, and the cycle. These three patterns are commonly used when visualizing fashion change. Curves represent a smooth and gradual transition from one style to another. The pendulum swing symbolizes the back-and-forth movement between different trends, where fashion swings from one extreme to another and then back again. The cycle refers to the repetitive nature of fashion, where certain styles or trends resurface and become popular again after a period of time. These patterns help to illustrate the dynamic and ever-changing nature of fashion.

This statement is false because trends can be deflected and change course at any stage. Trends are not fixed and can be influenced by various factors such as shifts in consumer preferences, market conditions, or technological advancements. Therefore, it is incorrect to say that a trend cannot be deflected or change course at a trendy stage.

The statement suggests that the Hispanic and Asian population will double, leading to increased diversity. This diversity will create more market segments based on ethnicity, attitudes, and interests. However, it is uncertain whether a "fusion" strategy or appeals to racial identities will be more effective. This implies that the statement is true, as it acknowledges the potential growth and impact of diversity on market segmentation, while also highlighting the uncertainty surrounding the best approach to target these segments.

An obsolete style becomes a candidate for revival when it is 20 years past and considered "amusing". This means that after 20 years, a style that was once outdated and no longer popular can become interesting and entertaining to people. It suggests that trends and tastes can change over time, and what was once seen as old-fashioned can be seen as charming or nostalgic in the future. Therefore, the statement is true.

Mass customization refers to the process of using mass production techniques while still providing customers with unique, personalized products. It combines the efficiency and cost-effectiveness of mass production with the individuality and customization desired by customers. This approach allows companies to offer a wide range of options and variations to meet the specific needs and preferences of each customer, without sacrificing the benefits of large-scale production.

The statement suggests that innovators are the first ones to adopt and communicate a particular style, while influentials are the ones who establish and maintain the standards within their social network. This implies that the statement is true, as it highlights the different roles played by innovators and influentials in shaping and spreading a particular style.

Under certain conditions, status markers can lose their power. One reason is when they become too easily accessible, as their exclusivity diminishes. Additionally, when affluent consumers reject ostentatious displays of wealth, status markers lose their significance. Lastly, the availability of lower quality versions can also devalue status markers. Therefore, all of the above factors can contribute to the loss of power of status markers.

Forecasting is a creative process that involves using knowledge, data, and analytical skills to make predictions about future events or trends. It is not a gift or talent that some people inherently possess, but rather a skill that can be developed through learning and practice. It is not a set of rules that can be applied to fashion or a magical ability to see the future. Additionally, while forecasting can involve looking back to analyze past errors and improve future predictions, it is primarily focused on making informed predictions about the future.

Generation X, born between 1965 and 1980, experienced a higher risk of their parents getting divorced. They were labeled "slackers" due to their pragmatic approach, sense of social distance, and falling expectations. Additionally, they are considered the first computer generation.

The theory of "trickle up" matches the statements because it suggests that innovation is driven by a desire to differentiate oneself from others. This theory proposes that new ideas and trends start at the bottom of society, often among young people or marginalized groups, and then gradually gain popularity and acceptance among the wider population. This process is driven by the desire to stand out and be unique, which aligns with the statement provided.

In the second stage of the "two-step flow" of fashion adoption, personal influence is dominant. This means that individuals are influenced by their peers, friends, and family members who have already adopted the fashion trend. Personal influence is often more impactful and persuasive than impersonal influence or distant opinion leadership because it comes from trusted sources who have direct relationships with the individuals. Gatekeeper influence refers to the role of media and opinion leaders in filtering and shaping information, while marketer dominated influence refers to the influence of advertising and marketing efforts.

The correct answer is "all of the above" because a classic refers to something that meets multiple criteria. It changes minimally over time, as it is timeless and enduring. It is accepted by a broad range of consumers, indicating its popularity and appeal. It also represents a midpoint compromise between extremes, suggesting that it strikes a balance and is not too extreme in any particular aspect. Therefore, all of these statements accurately describe a classic.

The correct answer is surveys, panel studies, and in-store experiments. These methods are associated with quantitative research because they involve collecting numerical data that can be analyzed statistically. Surveys involve asking a large number of participants a set of standardized questions. Panel studies track the same group of individuals over time to observe changes in their behaviors or attitudes. In-store experiments involve manipulating variables in a controlled environment to measure their impact on consumer behavior. These methods provide objective and measurable data, which is a key characteristic of quantitative research.

Recruiting young people to search for trends by observing other young people's fashion behavior is an example of consumer anthropology. This field of study focuses on understanding consumer behavior and cultural influences on consumer choices. By observing and studying the fashion behavior of young people, researchers can gain insights into their preferences, trends, and cultural influences. This information can be valuable for businesses in developing marketing strategies and products that cater to the target market.

A focus group is a research method where a small group of individuals are brought together to discuss their preferences, styles, and brands related to apparel. This method allows the apparel executive to gain in-depth insights and understand the opinions and perspectives of consumers. It provides an opportunity for participants to interact with each other, share their thoughts, and generate new ideas. This type of research is valuable in understanding consumer behavior and making informed decisions in the apparel industry.

Conspicuous consumption refers to the act of displaying one's wealth and social status through extravagant and luxurious purchases. This behavior is often motivated by the desire to gain social recognition and admiration from others. By wearing elaborate fashion and living in extravagant homes with costly furnishings, individuals engage in conspicuous consumption as a means of signaling their high social standing and economic power.

Long-term forecasting is important because it helps businesses identify trends and changes in lifestyle that may affect their industry. By predicting these trends, fashion businesses can plan their strategies and products accordingly, ensuring their success over a period of five to ten years. Additionally, long-term forecasting also helps identify short-term style trends that are related to new consumer preference patterns. Therefore, all of the above reasons make long-term forecasting important for businesses.

Popular culture does not always invite skepticism just because it can be extreme and frivolous. While some aspects of popular culture may be seen as excessive or lacking in substance, it is not fair to generalize and assume that all popular culture is deserving of skepticism. Popular culture can also be a reflection of society, provide entertainment, and serve as a platform for creative expression. Therefore, the statement that popular culture always invites skepticism is false.

Mainstream activities may provide insight into current cultural trends, but they do not necessarily provide accurate forecasts of future trends. Cultural trends are influenced by a variety of factors and can be unpredictable. Just because an activity is popular now does not guarantee that it will continue to be popular in the future or that it will shape future trends. Therefore, the statement is false.

Fashion cycles do not refer to the periodic movement of fashion between extremes. Instead, fashion cycles refer to the continuous change and evolution of fashion trends over time. Fashion trends come and go, but they do not necessarily move between extremes. Styles may become popular and then fade away, but this does not imply a movement between extremes. Therefore, the correct answer is false.