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Fashion Merchandizing

  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Merchandising offerings - Appropriate for customers

2. Mass - staples

3. Focus specifically on product

4. Store owner - Specialized store buyer - Central buyer - Resident buyer

5. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM

6. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment

7. Customer makes choices out of a catalog and places order by phone - mail - or at a facility

8. Store open another facility in a different location - often in suburbs

9. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise

10. Responsible for a department/area

11. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline

12. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock

13. Image Merchandise/promotional -advertising agencies bid for client accounts

14. Large number of resources centered in 7th Avenue area - Largest and most important domestically

15. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)

16. Order from catalog and pick up immediately

17. These reach out and sell to - small fashion retailers in surrounding areas - serve as a wholesale selling facility for apparel producers - Better understanding of the local consumer

18. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique

19. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof

20. Most aware of what is selling (bias)

21. Manufacturers Attend Market to...

22. Number of different items offered

23. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations

24. Italian fashion - Knits - Shoes - Menswear

25. Where store execs are housed

26. Selling responsibilities

27. Ads; focuses on business itself

28. Conduct own research

29. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success

30. Not paid for by the retailer and the retailer doesn't have control over what is said

31. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department

32. Sourcing - Logistics related to - importing - Managing information systems

33. Anticipating future needs - Interpreting consumer demand - Evaluating current sales

34. Variety of low priced merchandise

35. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)

36. Develops clothing for actors in plays - movies - and television

37. Buying - selling - and planning of merchandise

38. Larger orders may allow for...

39. Germany - Spain - Eastern Block

40. Focuses on a particular item or product

41. Shoplifting - internal theft - inaccurate records

42. Responsible for several areas

43. Small specialized store of a department store

44. Management consultants - Technical consultants - Import and export consultants

45. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers

46. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements

47. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving

48. WWD - DNR - stores (consumer fashion magazines)

49. Small operation

50. Compare what is available from the competition