A new fashion start-up is looking to create a brand that engages with consumers and encourages them to participate in the creation of new fashion designs. The company plans to use social media to solicit feedback from customers and involve them in the design process. Which of the following best describes the emerging concept of a market, as it applies to this fashion start-up? Group of answer choices a. The roles of the company and consumer are converging b.The roles of the company and consumer are diverging c.The roles of the company and consumer are emerging d.The roles of the company and consumer are submerging

11.Question 11What are the main market segments in the fashion industry?1 pointWomenswear, menswear, kidswear, formalwear, and sportswearThose identified by using price as the variable to segment the marketLuxury brands, fashion designers, premium brands, and fast fashion retailers

A startup is struggling to gain user interest for its new social networking platform, and user engagement remains low. What should the startup focus on to achieve Product-Market Fit?*1 pointScale the platform to attract more usersContinue promoting the platform through advertisingIteratively refine the platform based on user feedbackShift its focus to a different market

What should fashion companies do in order to develop successful digital communication?1 pointDesign a global approach with no local adaptationsCreate original and relevant contentKeep the virtual separated from the physical world in order to avoid any confusion

Elite Fashion operates several social media profiles, including Facebook, Instagram, and TikTok. Through these profiles, its customers can express their needs and wants directly to the firm in response to its marketing communications. Which of the following characteristics of digital marketing is depicted in this scenario?Multiple Choiceinteractivitycreativitycontroladdressability

Graded Question 2Lakshmi Ltd., a women-only fashion company, wants to design high-quality comfort wear for working women. The leaders of the company have sensed the market’s desire for the product during the pandemic and aim to redesign their business to manufacture comfort wear over party wear (which are significantly less in demand). To bring about this business change, Lakshmi Ltd. identifies the Design, Production and Finance teams as its targets as per the AIM CAST model. It is due to the trends observed by competitors and market research agencies that this shift in consumer preference could be identified. How can the leaders at Lakshmi Ltd. proceed as a next step to create a sense of urgency in the targets and among other stakeholders?The leaders should send their sales teams and other customer-facing teams to the market to converse with the customers.The leaders should provide the stakeholders with uncomfortable evidence and data – that support their idea.The leaders should take advice from middle-level managers who believe that the company is functioning well currently and should not take risks in unchartered territories.The leaders should form focus groups, each with at least one customer-facing employee. These focus groups should be formed to listen to recorded customer conversations (and feedback) with the organisation’s customer-facing teams so that they can be aligned to the change.1, 2 and 41, 2 and 32, 3 and 41, 3 and 4