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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. Door-to-door or house parties

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

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

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

5. Focuses on a particular item or product

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

7. Cotton Inc. - Wool Bureau

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

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

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

11. Order from catalog and pick up immediately

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

13. Shoplifting - internal theft - inaccurate records

14. Germany - Spain - Eastern Block

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

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

17. 2nd largest leasing space available

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

19. Manufacturers Attend Market to...

20. Variety of low priced merchandise

21. Merchandising - Buying - Product Development Organizations

22. 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

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

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

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

26. Ads; focuses on business itself

27. Where store execs are housed

28. Merchandising offerings - Appropriate for customers

29. Television or computer shopping

30. Focuses on management and market research

31. Focus specifically on product

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

33. Regional center for bridal - evening wear

34. Responsible for a department/area

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

36. Small specialized store of a department store

37. Conduct own research

38. Responsible for establishing the store's image

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

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

41. Sourcing - Logistics related to - importing - Managing information systems

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

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

44. 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

45. Most aware of what is selling (bias)

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

47. Buying - selling - and planning of merchandise

48. Located in market

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

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