# CTE Resource Center - Verso - Fashion Marketing Task 1411502030

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Explain economic utility.

Definition

Explanation should include the five economic utilities involved with all products (i.e., form, time, place, possession, information), an application of each type to the fashion industry, and the difference between customers' needs and wants.

     

Process/Skill Questions

  • What is meant by product utility?
  • What do the major product utilities have in common?
  • Which product utility is not classified as a marketing utility? Why?
  • Why is product utility an important factor in fashion marketing?
  • Which type or types of utility are being used when products/services are sold through the Internet?
  • How does product utility relate to fashion?
  • What are the important utility considerations for designers?

Related Standards of Learning

English

10.5

The student will read, interpret, analyze, and evaluate nonfiction texts.
  1. Analyze text features and organizational patterns to evaluate the meaning of texts.
  2. Recognize an author’s intended audience and purpose for writing.
  3. Skim materials to develop an overview and locate information.
  4. Compare and contrast informational texts for intent and content.
  5. Interpret and use data and information in maps, charts, graphs, timelines, tables, and diagrams.
  6. Draw conclusions and make inferences on explicit and implied information using textual support as evidence.
  7. Analyze and synthesize information in order to solve problems, answer questions, and generate new knowledge.
  8. Analyze ideas within and between selections providing textual evidence.
  9. Summarize, paraphrase, and synthesize ideas, while maintaining meaning and a logical sequence of events, within and between texts.
  10. Use reading strategies throughout the reading process to monitor comprehension.

11.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
  1. Apply information from texts to clarify understanding of concepts.
  2. Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
  3. Analyze technical writing for clarity.
  4. Paraphrase and synthesize ideas within and between texts.
  5. Draw conclusions and make inferences on explicit and implied information using textual support.
  6. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  7. Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
  8. Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
  9. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).

12.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts.
  1. Use critical thinking to generate and respond logically to literal, inferential, and evaluative questions about the text(s).
  2. Identify and synthesize resources to make decisions, complete tasks, and solve specific problems.
  3. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Analyze false premises claims, counterclaims, and other evidence in persuasive writing.

History and Social Science

GOVT.15

The student will apply social science skills to understand the role of government in the Virginia and United States economies by

  1. describing the provision of government goods and services that are not readily produced by the market;
  2. describing government’s establishment and maintenance of the rules and institutions in which markets operate, including the establishment and enforcement of property rights, contracts, consumer rights, labor-management relations, environmental protection, and competition in the marketplace;
  3. investigating and describing the types and purposes of taxation that are used by local, state, and federal governments to pay for services provided by the government;
  4. analyzing how Congress can use fiscal policy to stabilize the economy;
  5. describing the effects of the Federal Reserve’s monetary policy on price stability, employment, and the economy; and
  6. evaluating the trade-offs in government decisions.

Other Related Standards

Economics and Personal Finance Standards of Learning

EPF.2

The student will demonstrate knowledge of the role of producers and consumers in a market economy by
  1. describing how consumers, producers, workers, savers, investors, and citizens respond to incentives;
  2. explaining how businesses respond to consumer sovereignty;
  3. identifying the role of entrepreneurs;
  4. comparing the costs and benefits of different forms of business organization, including sole proprietorship, partnership, corporation, franchise, and cooperative;
  5. describing how costs and revenues affect profit and supply;
  6. describing how increased productivity affects costs of production and standard of living;
  7. examining how investment in human capital, capital goods, and technology can improve productivity;
  8. describing the effects of competition on producers, sellers, and consumers;
  9. explaining why monopolies or collusion among sellers reduces competition and raises prices; and
  10. illustrating the circular flow of economic activity.

National MBAResearch Standards-Business Administration

Understand marketing's role and function in business to facilitate economic exchanges with customers.