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Fashion Merchandizing

Instructions:
  • 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. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services






2. Cotton Inc. - Wool Bureau






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






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






5. People who shop for clients






6. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)






7. Compare what is available from the competition






8. Sales records - Sales people






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






10. Number of different items offered






11. Typically 6 months prior to season






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






13. Specialize in brand and designer name clothing at discounted prices






14. Responsible for establishing the store's image






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






16. Television or computer shopping






17. Screens the market for the store buyer (represents the buyer) - Group buying- allows for lower prices due to volume buying - Assist with private label- product development sourcing - Assist with foreign buying






18. Merchandising - Buying - Product Development Organizations






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






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






21. Small area within a store for designers or popular manufacturers






22. 2nd largest leasing space available






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






24. Ads; focuses on business itself






25. Responsible for a department/area






26. Small operation






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






28. Net sales- total merchandise costs (Allow for overhead taxes and profit)






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






30. Merchandising offerings - Appropriate for customers






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






32. Quantity of different items offered






33. Most aware of what is selling (bias)






34. Italian fashion - Knits - Shoes - Menswear






35. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)






36. Market area - Assists specialized (central) buyer






37. Conduct own research






38. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera






39. Centrally located/organized with merchandising and buying in a central headquarters - Most of the separate stores look alike and carry the same merchandise - Example = Target






40. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line






41. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)






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






43. Creates fashion looks for magazine phot - shoots - company catalogs - etc.






44. Selling responsibilities






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






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






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






48. Some sample will be altered - To show merchandise in best possible way to accessorize it the way they intended it to be and sometimes on models - Opportunity to develop PR






49. Focuses on the business itself






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







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