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






2. Television or computer shopping






3. Responsible for a department/area






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






5. Focuses on the business itself






6. Small operation






7. Current information on trends






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






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






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






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






12. Merchandising - Buying - Product Development Organizations






13. Regional center for bridal - evening wear






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






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






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






17. Buying - selling - and planning of merchandise






18. Italian fashion - Knits - Shoes - Menswear






19. Typically 6 months prior to season






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






21. Chain






22. Ads; focuses on business itself






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






24. Market area - Assists specialized (central) buyer






25. Responsible for establishing the store's image






26. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy






27. Compare what is available from the competition






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






29. Variety of low priced merchandise






30. Small specialized store of a department store






31. Door-to-door or house parties






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






33. To actually see the merchandise and judge how it will look in store - To find new resources for merchandise - Stores will always carry some traditional vendors But are constantly seeking new sources - Talk to other and get a feel for the trends and






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






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






36. When merchandise (inventory and ordered) is GREATER than need






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






38. Germany - Spain - Eastern Block






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






40. Order from catalog and pick up immediately






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






42. Focuses on a particular item or product






43. Focuses on management and market research






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






45. People who shop for clients






46. Located in market






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






48. Mass - staples






49. Responsible for several areas






50. Manufacturers Attend Market to...







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