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






2. Shoplifting - internal theft - inaccurate records






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






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






5. Buying - selling - and planning of merchandise






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






7. 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






8. Small specialized store of a department store






9. Current information on trends






10. Conduct own research






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






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






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






14. People who shop for clients






15. Quantity of different items offered






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






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






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






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






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






21. Italian fashion - Knits - Shoes - Menswear






22. Located in market






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






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






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






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






27. Focuses on the business itself






28. Focuses on a particular item or product






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






30. Menswear






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






32. Store's own label for career and casual sportswear; prices vary (better to moderate)






33. Larger orders may allow for...






34. Door-to-door or house parties






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






36. 2nd largest leasing space available






37. Responsible for several areas






38. Ads; focuses on business itself






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






40. Responsible for establishing the store's image






41. Focus specifically on product






42. Merchandising - Buying - Product Development Organizations






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






44. Television or computer shopping






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






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






47. Selling responsibilities






48. Focuses on management and market research






49. Number of different items offered






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







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