Fashion Business Forecasting Exam Question

To answer the questions below, assume the role of Fashion Director for the Gap brand of Gap, Inc. Your key responsibility in this role is to ensure that the merchandise division is fashion right for the season being planned.

The questions ask you to craft your overall research tracking strategy, so consider how each question relates to the others to form a cohesive, overall research strategy.

Consider only the Gap brand of Gap, Inc. Do not consider Old Navy, Banana Republic, or any of the other Gap, Inc. brands.

Where appropriate, differentiate between men’s and women’s. Do not include kids.

Use terminology and concepts from this class to answer the questions concisely, but thoroughly.

You should spend 2-3 hours on the exam (this includes the usual class time plus homework time preparing for class).

The answer for each numbered question should be no more than one single-spaced page (not including the text of the question), size 11 font, 1-inch margins.

Answer the questions below (25 points each, total 100 points).

The Gap identity:

“American Optimism is our attitude. Casual style is our aesthetic. Clean and confident, comfortable and accessible, classic and modern. It’s the quintessential expression of Gap brought to life through iconic clothing. Our collections are a modern interpretation of our denim roots and signature pieces that are a staple for every wardrobe. Gap embraces a youthful, infectious spirit and the freedom to express individual style.”

Questions:

1. Fashion change can be thought of as a type of innovation; doing so allows use of diffusion theory to predict the extent to which the new fashion will be accepted by various customer segments.

a. What tools will you use to attempt to model the diffusion process for products in your division?

b. Who/what will you observe and why?

c. How will you explain diffusion across society – what model(s)/phenomena will you use and why?

2. Diffusion theory tells us how an innovation gets noticed and what characteristics make it more likely to be accepted. Fashion professionals need to be able to spot trends early, before they hit stores and media. To do so, they need to have frameworks to use to predict the speed and direction of the diffusion of a trend, once they notice an innovation. How, specifically, will you capture phenomena that are a) trickling down, b) trickling across, and c) trickling up? Suggest 3 specific resources you will use for each. Justify each.

3. Long term forecasts are created to convey macro-level trends that influence society, and thus fashion. Outline the research strategies you would use to create your long-term (2-5 years) forecast focusing on macro-level trends.

a. Identify 2 specific theoretical frameworks you would use and justify each.

b. Identify 2 specific research strategies and 3 specific sources you would use for each. Justify each research strategy and the sources you would use.

4. Understanding culture is important because the forecaster needs to be able to fit fashion into the culture of the times from the eye of the Gap customer.

a. What types of culture would you follow and why? Be specific, using course terminology.

b. What 3 specific outlets would you follow for each type of culture and why? Be specific, linking to type(s) of culture.

Hi there! Hope you are doing well. I would like to provide some materials that would help, here is the link for the textbook and quizs. Also, I don’t think we need a citation page, but it is necessary to reference the terms in the book, I believe the terms that are needed all in this book, and please don’t just google them because they are kind of different. I took pictures of it and transformed to PDF, it does not include all pages but if you need to read more please let me know, I will provide more pictures.

https://www.sendspace.com/filegroup/lVI6GxWlzEapNWSmURptpWtUUR%2Bby7P%2FLfYJJZUgVMCuyNk2bJnopMMD%2BOb7LmsT

Prof. Angela

4.6/5

Calculate Price


Price (USD)
$
Need Help? Reach us here via Whatsapp.