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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. Small area within a store for designers or popular manufacturers

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

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

4. Door-to-door or house parties

5. 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

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

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

8. Mass - staples

9. Compare what is available from the competition

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

11. Focuses on a particular item or product

12. Cotton Inc. - Wool Bureau

13. Order from catalog and pick up immediately

14. Buying - selling - and planning of merchandise

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

16. Focuses on management and market research

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

18. Market area - Assists specialized (central) buyer

19. Conduct own research

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

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

22. Small specialized store of a department store

23. Larger orders may allow for...

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

25. People who shop for clients

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

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

28. Shoplifting - internal theft - inaccurate records

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

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

31. Typically 6 months prior to season

32. Ads; focuses on business itself

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

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

35. Chain

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

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

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

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

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

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

42. Small operation

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

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

45. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented

46. Quantity of different items offered

47. Focuses on the business itself

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

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

50. Manufacturers Attend Market to...