Copyright Goodheart-Willcox Co., Inc.
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CH A P T E R
Learning Outcomes
• Distinguish among market growth, share, and segmentation.
• Describe the importance and methods of market research.
• Summarize the concept of product development.
• Describe how the fashion industry uses information technology.
• Summarize the efforts that are being made for overall industry excellence.
• Describe how the industry is improving its image.
5
Satisfying the
F ashion Market
Fashion Terms
market segmentation
target marketing
demographics
psychographics
market research
virtual reality (VR)
product development
information systems
bar codes
compliance
collaboration
electronic data interchange
(EDI)
quick response
manufacturing (QRM)
synergy
radio frequency
identifi (RFID) fication
open systems
outsourcing
Textile/Clothing Technology
Corporation [TC]2
ethics
social responsibility
sustainability
All parts of the soft goods chain must focus on the changing needs and life-
styles of customers. Satisfying customers in order to make a profit is the rea- fi
son businesses exist. This is not easy in the highly competitive, fast-paced
fashion fi eld. Many fashion businesses, however, are very successful because fi
they know their customers and they market effectively to them. They make
changes in their products and selling techniques to provide merchandise that
meets the wants and needs of today’s consumers.