Fashion Design Fashion Business and Marketing 1 — Questions and Answers
Question 1: What is the 'fashion calendar' in the industry?
- A publication listing fashion week dates and runway shows globally (Correct answer)
- A schedule of retail markdowns and sales
- A seasonal planning tool for fabric sourcing
- A content calendar for fashion social media
Correct answer: A publication listing fashion week dates and runway shows globally
The fashion calendar organizes the global schedule of runway shows, trade events, and market weeks, typically structured around Spring/Summer and Fall/Winter seasonal collections.
Question 2: What does 'OTB' (Open-to-Buy) mean in retail fashion buying?
- Merchandise available for purchase on a store's website
- The dollar amount budgeted to purchase new inventory during a specific period (Correct answer)
- A type of vendor payment term offering early discounts
- Garments available for immediate shipment from a manufacturer
Correct answer: The dollar amount budgeted to purchase new inventory during a specific period
Open-to-Buy (OTB) is the planned budget remaining for merchandise purchases during a period, calculated as planned sales plus desired ending inventory minus beginning inventory.
Question 3: What is 'fast fashion' and which brands are most associated with it?
- High-quality fashion produced quickly in small batches; Gucci, Prada
- Inexpensive, trend-driven fashion produced at high speed; Zara, H&M, Shein (Correct answer)
- Athletic wear designed for fast movement; Nike, Lululemon
- Fashion photography produced quickly for social media; ASOS, Revolve
Correct answer: Inexpensive, trend-driven fashion produced at high speed; Zara, H&M, Shein
Fast fashion is a business model producing high volumes of inexpensive, trend-driven clothing rapidly, pioneered by Zara (Inditex) with its two-week design-to-store cycle.
Question 4: What is 'vertical integration' in the fashion industry?
- Designing clothes that work for multiple body heights
- A company controlling multiple stages of production, from raw materials to retail (Correct answer)
- A display technique for merchandise in retail stores
- A pricing strategy that adjusts prices based on demand
Correct answer: A company controlling multiple stages of production, from raw materials to retail
Vertical integration occurs when a company owns and controls its supply chain from fiber/fabric production through manufacturing, distribution, and retail, reducing costs and increasing control.
Question 5: What is the primary purpose of a 'lookbook' in fashion marketing?
- A catalog listing wholesale pricing for retail buyers
- A visual presentation showcasing how a collection can be styled and worn (Correct answer)
- A pattern book used by sewers to recreate garments
- A portfolio of a designer's sketches and concept drawings
Correct answer: A visual presentation showcasing how a collection can be styled and worn
A lookbook is a curated collection of photographs showing how a designer's collection is meant to be styled and worn, used for marketing to buyers, press, and consumers.
Question 6: What does 'SKU' stand for in fashion retail inventory management?
- Stock Keeping Unit (Correct answer)
- Sales Knowledge Update
- Standard Knit Uniform
- Seasonal Key Undergarment
Correct answer: Stock Keeping Unit
A Stock Keeping Unit (SKU) is a unique alphanumeric code assigned to each distinct product variant, tracking a specific style, color, and size combination in inventory.
Fashion Design Fashion Business and Marketing 1
What is the 'fashion calendar' in the industry?