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JovialMoldavite7828

Uploaded by JovialMoldavite7828

De La Salle University

IB

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fashion business economics industry analysis

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This IB document is a quiz on fashion, industry, and business. It covers topics such as the paradox of fashion, the fashion industry, and the ecological impact of fashion. The quiz contains multiple-choice questions.

Full Transcript

1. The paradox of fashion is promoted by all of the following items except this. Which one does not promote the fashion paradox? a. Kaiva low top sneakers from Y-3 b. Fleece hoodie from Uniqlo c. Diamond studded love bracelet from Cartier d. Barong Tagalog made of jusi from Onesimus...

1. The paradox of fashion is promoted by all of the following items except this. Which one does not promote the fashion paradox? a. Kaiva low top sneakers from Y-3 b. Fleece hoodie from Uniqlo c. Diamond studded love bracelet from Cartier d. Barong Tagalog made of jusi from Onesimus 2. This product is considered to be under the fashion industry. a. facial exfoliants b. age-defying cream c. eye shadow d. shower gel 3. Charles Worth was a trailblazer in transforming fashion into a business by....... a. making less expensive clothes which more women could afford b. inviting prominent women to his shop and showing them his creations worn by live models c. collaborating with a financier who funded his first shop in Paris d. starting a fragrance line called Vernet which is his wile Mane's maiden name 4. Fashion became more "democratic" as global capitals outside of France slowly emerged as fashion hubs. This phenomenon slowly unfolded due to all of the factors listed below except this. Which one is not a reason behind the emergence of Milan, New York, London, and Tokyo as satellite capitals of fashion? a. The Tat and 2nd World Wars made a difficult as well as costly to export French made fashion b. Other countries wastest to introduce their own interpretation of style based on their distinct personalities and lifestyles. c. Garment import quotas were slowly introduced by many governments around the world in order to protect their own apparel manufacturers. d. Opulent French styling became inaccessible to many so foreign manufacturers were constrained to produce contemporary and functional alternatives with mass market appeal 5. Fashion entrepreneurs who demonstrate this capability are able to distinguish their product or service from competitors by clearly messaging its unique values, identity, and character. They are also able to foster long-term client relations which are not merely transactional but also emotional. a. The ability to improve lives and to create higher value for others b. The ability to manage strategic, marketing, and branding issues. c. The ability to develop a style that is experienced by customers as something distinctive and new d. The ability to manage the process of communication through media on which fashion heavily depends 6. In reporting the economic size and revenue-generating capacity of all players in the fashion industry, its industry map may show pertinent data coming from this combination of inputs: a. creative industry clusters, monetary value of the retail market, educational attainment of consumers wages earned by workers in the industry b. gender demographics of consumers, comparison of sales value between courtes, number of production facilities per country, top retail markets per fashion product c. convergent industries within the creative economy, average value of item purchased: top fashion brands measured in terms of revenue: future growth prospects of the industry d. No of items purchased per person instyle choices of consumers impact of fashion on the environment; volume itf fashion products purchased 7. This cannot be immediately confirmed by looking at industry mapping data. a. the relatively few countries that dominate the production of key production inputs such as raw fiber, yarn, and textile b. the percentage of synthetic versus natural fabrics used in garment production c. the degree to which a country can simultaneously produce export, and import apparel d. the effect of socio-demographic factors such as age, sex, and educational attainment on the decision to purchase fast fashion items 8. Evidence showing the ecological impact of fashion long after it is taken home and/or used by the buyer is shown through this eye-opening data. a. An estimated 20% of water pollution comes from textile dyeing and treatment. b. Fewer than 10% of gennerds are made into new clothing every year c. Growing cotton requires a minimum of 10.000 liters of water to harvest 1 kg of cotton d. Around half of the CO2 emissions are produced from wearing, washing, tumble-drying and ironing clothes 9. Mapping industries under the creative economy can be somewhat different and even challenging compared for instance to those under the technological (ie, software, information systems), or financial (ie, banking, real estate, insurance) economies. This is perhaps true because...... a. it can be argued that the industries with their roots in culture and creativity are an important and growing source of jobs and wealth creation b. it is likely that each country or region will adapt the creative industries or economy concept to suit own reeds c. products and services associated with creative firms have an expressive value, a cultural significance that may bear little relationship to how much they cost to make d. the desire to create things whose value is not purely practical-thinks that as beautiful, that communicate culture value through muse, drama entertainment and the al arts of that communicate social position through style and fashion and as human society itself 10. The Common Objective mapping model identifies a number of possible solutions to reduce the impact of fashion on the environment and its people, one solution they identified is through certifications and standards. Which one from the list below is an example of this solution? a. Formation of collaborative multi-stakeholder coalitions whose members include textile manufacturers, warters unions, NGOs, and government representatives b. A local government ordinance that requires all leatherware manufacturers established in the city to gradually shift to vegetable-tanned leather because it is more ecologically-friendly c. Distribution of materials and pamphlets outlining the effects of apparel manufacturing on the level of pollution, water consumption, and long term wellness of workers employed in the industry. d. Continuous mass actions as well as intense lobbying for companies and governments to address the problems brought about by Lesafe working conditions 11. All except one of the following are sound recommendations to offer fashion entrepreneurs as they face a post-COVID19 business landscape with anxiety and trepidation. Which one does not belong to the group? a. Attract new customers and increase employee retention by being a purpose-and values-drive company b. Continue pushing the sale of luxury and mid-market products to Europe and South America since they continue to show a slow but sustained rise in consumer spending. c. Opomaza the use of social media and continue to enhance in-store experience in order to rejuvenate sagging revenues d. Explore avenues for digitization and possibilities to leverage new technologies either for production or point-of-sale 12. The decision to self-disrupt is foremost in the minds of many fashion executives around the world for a few years now. Self-disruption is the process of driving firm growth by proactively adopting big and bold innovations that have long-term transformative potential. From the list below, select the one which represents the highest level of disruption for an established brand. a. Heritage brands ars tuning to streetwear in order to create a cooler image and this shift in design ethos manifested through their recruitment strategies in 2018, Louis Vuitton appointed the late Virgil Abloh, known for his disruptive streetwear brand Off-White, as its artistic director b. Established luxury brands are vigorously embracing digital channels as a primary route to expanding its market base. For instance, Rei Kawakubo's legendary label Comme des Garçons launched its frat direct-to-consumer only brand CDG in 2018 aimed at attracting more millennial and Gen-Z buyers c. Launched in 2018, Gucci ArtLab is an innovation hub focused on creativity, craftsmanship, and sustainable innovation. Staffed by a workforce of 800 people, the ArtLab will be the centre of product development and lab testing with in-house prototyping and sampling activity for leather goods, new materials, metal hardware and packaging. d. Burberry developed a new logo and monogram under its former chief creative officer of Italian Heritage, Riccardo Tisci 13. The emerging trend of gender-neutral clothing can be a business challenge for many fashion entrepreneurs because of this reason. a. The fashion industry already has an increasingly controversial presence in the media; apart from cultural appropriation, big fashion brands have faced allegations relating to sexism, racism, harassment, environmental harm, exploitation of workers and so on b. If the fashion industry genuinely intends to make a lasting, positive impression on the lives of its millennial consumers, they must not only continue to employ and celebrate gender fluidity but also make a more substantial investment in the lives - and not simply the looks - of the broader community. c. Business owners often use the gender binary (M/F) to define consumer categories as well as to create a marketing strategy; moreover, advertising has long encouraged certain expectations of gender identities in order to connect consumers to identities, beliefs, and ultimately products d. With gender-neutral clothing, a new and defiant modality for creative expression is challenging traditional norms while simultaneously freeing individuality from the limiting labels of gender 14. Garment manufacturers who would like to take advantage of the rising demand for inexpensive, travel-friendly clothing for budget-conscious travelers could follow all of these suggestions except one. Which one does not belong to the group? a. Offer an array of clothes for outdoor activities like hiking, biking, and climbing made from high-tech, high-performance fabrics like merino wool and premium cotton, b. Ensure that selected outerwear like jackets and pants have hidden zippers and secret pockets for added security c. Design clothes in a unified complementary or coordinated color scheme that buyers can travel light and just swap a few items around for a completely different lock d. Experiment with synthetic fabrics which are practical, antimicrobial, and have heat-activated base layers 15. Many perfume buyers in the Philippines are trading up to premium European fragrances because of this a. Perfumes are an aspirational product so while buyers might not want to spend a lot on a high-end fragrance, they still want the same fragrance notes and sophistication from a lower-priced option b. The domestic economy (prior to the pandemic) is growing and disposable incomes are rising c. There is nothing special or sophisticated about mass produced perfumes that use lower quality ingredients and utilize attractive packaging d. Expensive perfumes are deemed more desirable because of their perceived exclusivity and elegance 16. Branding includes the following combination of elements: a. communication channels, stock prices, brand name, design team composition b. sustainable business practices, corporate governance, social media content, product packaging c. design elements, target customers, supply chain management, profitability index d. logo, values; profitability indices; business model 17. For the next 4 items, please indicate the correct price-quality strategy which corresponds to the branding direction of the listed brand name beginning with this: UNIQLO a. Low price. Low quality b. High price, Low quality c. High price, High quality d. Low price, High quality 18. Please indicate the correct price-quality strategy which corresponds to the branding direction of this brand name: FOREVER 21 a. High price. Low quality b. Low price, Low quality c. High price, High quality d. Low price, High quality 19. Please indicate the correct price-quality strategy which corresponds to the branding direction of this brand name: PANDORA a. Low price. Low quality b. Low price, High quality c. High price, High quality d. High price, Low quality 20. Finally, please indicate the correct price-quality strategy which corresponds to the branding direction of this brand name: SEIKO a. High price, High quality b. Low price, High quality c. Low price, Low quality d. High price, Low quality 21. It is incredibly important to know your market and clearly define your target customer because..... a. the field is very crowded with thousands of latins competing worldwide for distribution. b. this allows you to develop a product that genuinely meets their needs and wants. c. many young fashion entrepreneurs develop products at a price point that they themselves code not afford d. this will make your business plan mony attractive for potential investors and creditors. 22. A direct-to-consumer business model of selling a product through e-commerce or social selling can be advantageous because..... a. this often gives a business more flexibility in pricing since they no longer have to consider the profit margin an established retail store would take b. the design's exclusivity is maintained by producing a limited number of items per collection c. It eliminates the necessity of long fitting sessions and therefore makes me garment more readily accessible to the chant d. It allows designers to showcase a collection on the runway and then permits the customers to buy the product in-store without having to wait for months 23. In this fashion lifecycle phase, the look which a pioneering designer started is copied by many retailers and is adopted by many fashion watchers. a. acceleration b. obsolescence c. general acceptance d. innovation 24. The brand values communicated by Superdry parkas could be these. a. Revolutionary, Adventurous Protection, Bold b. Individuality, Fun, Diversity, Vintage c. Playful, Creative, Decadent, Timeless d. Sophistication, Exclusivity Heritage, Craftsmanship 25. Meanwhile, sophistication, exclusivity, heritage, and craftsmanship could be the brand values communicated by all of the following except this. a. Brillant handbag by Delvaux b. Scritto leather Oxfords by Bertull c. Trigreca sneakers by Versace d. Bespoke suit tailored by Loro Piana

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