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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. Current information on trends






2. Buying - selling - and planning of merchandise






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






4. Italian fashion - Knits - Shoes - Menswear






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






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






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






8. 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






9. Germany - Spain - Eastern Block






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






11. Chain






12. Focus specifically on product






13. Sales records - Sales people






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






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






16. Larger orders may allow for...






17. Merchandising - Buying - Product Development Organizations






18. 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






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






20. Number of different items offered






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

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






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






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






25. Compare what is available from the competition






26. Some sample will be altered - To show merchandise in best possible way to accessorize it the way they intended it to be and sometimes on models - Opportunity to develop PR






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






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






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






30. Focuses on a particular item or product






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






32. Focuses on management and market research






33. Variety of low priced merchandise






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






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






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






37. Responsible for several areas






38. Conduct own research






39. Located in market






40. Responsible for a department/area






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






42. Market area - Assists specialized (central) buyer






43. Shoplifting - internal theft - inaccurate records






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






45. Small specialized store of a department store






46. Regional center for bridal - evening wear






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






48. 2nd largest leasing space available






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






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






Can you answer 50 questions in 15 minutes?



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