CTE3763 Final Review Matching Ready to wear pret a porter Vertical integration manufacturer owned and operated factories Independent business hired to provide production services contractor Private label store brand Brand label proprietary Global trade terms Import to buy goods from another country Export to sell goods to another Trade deficit situation that occurs when a country imports more goods than they export Embargo prohibition from importing products from an exporting nation Tariff tax on imported goods that is assessed by the country of import Quota annual limit on the volume of a designated product category that may be shipped NAFTA North American Free Trade Agreement policy creating a single North American Market for goods originating in Canada the United States and Mexico EU European Union trading bloc of European countries TFPIA textile fiber products identification act federal law requiring that all apparel sold in the united states have a label that identifies fiber content manufacturer and country of origin Trademark a registered brand name or symbol Copyright exclusive right to reproduce a work of art Trade Dress refers to the shape and features of the product itself and are not only distinctive but also identify the manufacturer of the product Patent exclusive rights to produce an item Counterfeit vs Knockoff o Counterfeit fake copy of currently popular branded apparel accompanied by the illegal use of that rightful producers brand or trademark o Knock off the legal copy or near copy of the general idea of a design shown by another firm under a different brand Know CMT encompasses agreements that utilize domestic of off shore vendors for cutting assembly and finishing of garments for which the product developers provide designs patterns and fabric Subcontractor contractor that form highly specialized functions for other contractors and manufacturers Jobber a wholesale merchant a pieceworker a merchant who deals in special or odd jobs Full package supplier manufacturer or contractor that provides pattern making services all fabrics and trim and complete all garment production process for product development Licensing the process by which a manufacturer pays a fee to an individual or company for the privilege of affixing the licensor s name trademark or logo on the licensee s product FOB free on board the exporter or offshore vendor includes in the cost of goods the transportation to the port the handling and loading aboard the vessel and the cost of the quota and export duty chargers incurred in the country of origin o Ownership transfers when the goods are loaded onto the shipping vessel Landed price the total cost of importing products including the costs of transportation to the United States tariffs imposed by customs and cost of transporting them to domestic distribution centers and retail stores Tolerances the difference between the allowable minimum and maximum of a specification or standard Open specs specifications that are somewhat generic and contain only the very basic necessary facts allowing flexibility on the part of the producer or vendor Closed specs information provided in specifications that is very detailed and can almost guarantee the use of an exact material predetermine the exact supplier and ensure the consistency of final products Seconds products that do not fit within the tolerances in the specifications Costing Pricing and Profit Know the difference between the phases of costing o Precosting preliminary estimate of what it will cost to produce a garment o Production costing detailed accurate costing that enables the manufacturer to accurately predict the cost of producing a garment Matching Trademark word or symbol to identify and distinguish a manufacturer Counterfeit an imitation which infringes upon a manufacturer Knock off copy or near copy of design under a different brand name RN registered identification number Size classifications of the dimensions of garments Merchandising Business plan a detailed proposal for the overall aims objectives or strategies for a firm Strategic plan the highest level of planning in in a business it is developed by the firm s executive management team and links concepts related to the target market and product line to financial goals of the business o Spells out the firms mission vision and values and forms the foundation for overall decision making Line concept the mood theme and key elements that contribute to the identity of the line Line development translating trend information into actual sketches of styles Line presentation showing the proposed line of products to sourcing managers and technical design staff for selection of styles to include in the season s product line Line plan a plan that sets sales and margin goals for groups or lines within a division o Includes evaluating merchandise mix forecasting merchandise offerings to meet merchandise budgets and planning merchandise assortments Assortment plan a detailed outline of the line plan that addresses customer preferences what product what colors what sizes and for what delivery Merchandising plan a plan that identifies the resources needed to meet company profits sales and margin objectives for a specific season by company division thereby linking strategic planning to creative planning technical planning production planning and sales and marketing Technical planning process to further define a style by developing fit standards and materials and construction specifications Brand portfolio a collection of multiple brands managed by a single company but not necessarily recognized by consumers as related Lifestyle brand brand offering that go beyond the initial apparel product line to include other product categories Business plan aims objectives and strategy for future Merchandising plan planning development and presentation of the product Technical planning developing fit standards color standards fabric testing and garment testing Strategic planning links concept to target customer forms merchandising plan line plan assortment plan and sourcing Matching Matching Line concept mood theme and key elements Line development translation of creativity forecasting and merchandise Line presentation showing of proposed products Assortment plan amount of each product Technical planning defines styles by developing specifications Fiber Yarn Fabric Physical features of fabric are o Fiber fine hair like structure raw material from which fabrics are
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