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Fashion Merchandizing

Instructions:
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

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. Located in market






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






3. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources






4. 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






5. Pay a fee for what are supposed to be wholesale prices






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






7. Mass - staples






8. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later






9. Shoplifting - internal theft - inaccurate records






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






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






12. Small operation






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






14. Small specialized store of a department store






15. Current information on trends






16. 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






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






18. Money left to buy- when merchandise NEEDS to exceed merchandise available






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






20. Most aware of what is selling (bias)






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






22. Focuses on management and market research






23. Manufacturers Attend Market to...






24. 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






25. Focuses on a particular item or product






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






27. Responsible for establishing the store's image






28. Order from catalog and pick up immediately






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






30. 2nd largest leasing space available






31. Italian fashion - Knits - Shoes - Menswear






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






33. Buying - selling - and planning of merchandise






34. Germany - Spain - Eastern Block






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






36. Typically 6 months prior to season






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






38. Merchandising - Buying - Product Development Organizations






39. Sales records - Sales people






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






41. Focuses on the business itself






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






43. Focus specifically on product






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






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






46. Responsible for several areas






47. Ads; focuses on business itself






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






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






50. Market area - Assists specialized (central) buyer







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