3763 Final Exam 1 Ready to wear D Pret A Porter 2 Vertical integration A Manufacturer owned operated factories 3 Independent business hired to provide production services E Contractor 4 Private Label B Proprietary 5 Brand Label C Store brand Trade Deficit situation that occurs when a country imports more goods than it exports Global Trade Terms Import to buy goods from another country Export to sell goods to another country Embargo denial of entry of goods into the country Tariff duty or tax placed on imported apparel Quota limit on the quantity of items that may be imported NAFTA North American Free Trade Agreement policy creating a single North American market for goods originating in the United States Canada and Mexico EU European Unit trading block 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 the 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 that are not only distinctive but also identify the manufacturer of the product Patent exclusive right to produce an item Counterfeit fake copy of currently popular branded apparel accompanied by the illegal use of the rightful producer s brand name or trademark vs Knockoff The legal copy or near copy of the general idea of a design shown by another firm under a different brand name Sourcing Contractor an independent business hired to provide production services to MFT entire garment product lines partially completed component parts CMT cut make trim contractor that completes all aspects of production to MFT The garment Jobber an independent contractor hired but MFT To outsource the production of entire garments or partially complete Specialty Contractor sub contractor completes a portion of a garment that requires special skills and equipment belt making pleating quilting printing covering buttons fagoting Full Package Supplier an independent contractor capable of completing all aspects of design fabric and materials purchasing pattern making Cutting assemble packaging distribution Subcontractor contractor that performs highly specialized functions for other contractors and manufacturers Landed Price landed costs the total cost of importing products including costs of transportation to the United States tariffs imposed by customs and costs of transporting them to domestic distribution centers or retail stores FOB free on board the exporter or the offshore vendor includes in the cost of goods the transportation to port the handling and loading aboard the vessel and the cost of quota and export duty charges incurred in country of origin Ownership transfers when the goods are loaded onto the shipping vessel Licensing the process by which the manufacturer the licensee pays s fee to an individual or company the licensor for the privilege of affixing the licensor s name trademark or logo to the licensee s products Tolerances the difference between the allowable minimum and maximum 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 irregulars products that do not fit within the tolerances designated in the specifications Costing Pricing and Profit Precosting developing a preliminary cost estimate including all costs to be incurred in producing a sample garment including materials labor trim and the producer s gross margin logistics and tariffs Production Costing or final cost estimate calculation for all expenses for a full production run or order may be done by someone within a firm or completed by a vendor as a formal bid to produce garments for a specified price 1 Registered Identification number Matching 2 Copy or near copy of design under a different brand name 3 An imitation which infringes upon a manufacturer 4 Word or symbol to identify and distinguish a manufacturer 5 Classification of the dimensions of garments D RN C Knock off B Counterfeit A Trademark E Size Merchandising Business plan aims objective and strategy for the future structure for process Strategic plan highest level of planning that is developed by the firm s executive management and links concepts related to the target market and product line to the financial goals Spells out the firms mission statement vision and values Line concept color story big ideas theme key items key elements to the identity of the line Line development design team translates line concept to products 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 next step in evaluating merchandise mix focuses on the business orientation and target market key to achieve business goals Assortment plan spells out the styles quantity of a style class breakdown color analysis Merchandising plan line is refined to satisfy the target market included feedback of key retail partners to address their needs and wants Technical planning defines styles by developing specs fit standards ensure color standards oversee fabric and testing develop fabric specs determine grading Brand Portfolio management of multiple brands of a single company Lifestyle Brand brand offerings that go beyond the initial apparel product line to include other product categories 3 Links concepts to target customer Forms merchandising plan line plan assortment plan sourcing 1 Developing fit standards color standards fabric testing garment testing Matching C Technical planning 2 Aims objectives strategy for future A Business plan 4 Planning development presentation of a product D Strategic planning B Merchandising plan 5 Translation of creativity forecasting merchandising B Line development 6 Amount of each product E Technical planning 7 Showing of proposed products C Line presentation 8 Mood theme and key elements 9 Defines styles by developing specification A Line concept D Assortment plan Fiber Yarn Fabric Structure Color and applied design Physical features of fabric are Functional performance
View Full Document
Unlocking...