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






2. People who shop for clients






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






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






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






6. Small specialized store of a department store






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






9. Responsible for a department/area






10. Larger orders may allow for...






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






12. Focuses on a particular item or product






13. Focuses on the business itself






14. Television or computer shopping






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






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






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






18. Merchandising offerings - Appropriate for customers






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






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






21. Merchandising - Buying - Product Development Organizations






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






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






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






25. Most aware of what is selling (bias)






26. Order from catalog and pick up immediately






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






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






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






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






31. Small operation






32. Market area - Assists specialized (central) buyer






33. Italian fashion - Knits - Shoes - Menswear






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






35. 2nd largest leasing space available






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






37. Located in market






38. Responsible for establishing the store's image






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






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






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






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






43. Regional center for bridal - evening wear






44. Current information on trends






45. Manufacturers Attend Market to...






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






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






48. Where store execs are housed






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






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







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