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Questions and Answers
What is the primary purpose of trend forecasting?
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?
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?
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?
What is one key benefit of trend forecasting for businesses?
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How does trend forecasting help businesses regarding their target audience?
How does trend forecasting help businesses regarding their target audience?
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What risk can trend forecasting help businesses mitigate?
What risk can trend forecasting help businesses mitigate?
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What does market research in fashion typically involve?
What does market research in fashion typically involve?
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Why is it important for businesses to research competitors in the fashion market?
Why is it important for businesses to research competitors in the fashion market?
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How can trend identification benefit businesses in the fashion industry?
How can trend identification benefit businesses in the fashion industry?
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