Trend Forecasting Overview
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Questions and Answers

What is the primary purpose of trend forecasting?

  • To predict future trends (correct)
  • To analyze past trends
  • To follow the trendsetters
  • To ignore current trends

    • How does trend forecasting differ from trend analysis?

  • Trend forecasting predicts future trends, while trend analysis looks at historical data (correct)
  • Both are the same thing
  • Trend forecasting focuses on the past, while trend analysis looks to the future
  • Trend forecasting is more subjective than trend analysis

    • Why is trend forecasting important in various industries?

  • It causes confusion among consumers
  • It helps in making informed decisions and staying ahead in the market (correct)
  • It discourages creativity and innovation
  • It only benefits large corporations

    • What is one key benefit of trend forecasting for businesses?

    <p>Avoiding investing in unsuccessful products</p> Signup and view all the answers

    How does trend forecasting help businesses regarding their target audience?

    <p>Understanding and meeting customer desires</p> Signup and view all the answers

    What risk can trend forecasting help businesses mitigate?

    <p>Developing products that customers do not want</p> Signup and view all the answers

    What does market research in fashion typically involve?

    <p>Identifying and analyzing current fashion trends</p> Signup and view all the answers

    Why is it important for businesses to research competitors in the fashion market?

    <p>To identify gaps in the market</p> Signup and view all the answers

    How can trend identification benefit businesses in the fashion industry?

    <p>By understanding consumer preferences better</p> Signup and view all the answers

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