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






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






3. Buying - selling - and planning of merchandise






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






5. Mass - staples






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






7. Regional center for bridal - evening wear






8. Small operation






9. Most aware of what is selling (bias)






10. Ads; focuses on business itself






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






12. Chain






13. Number of different items offered






14. Variety of low priced merchandise






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






16. Shoplifting - internal theft - inaccurate records






17. Compare what is available from the competition






18. Quantity of different items offered






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






20. Market area - Assists specialized (central) buyer






21. Merchandising offerings - Appropriate for customers






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






24. Menswear






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






26. Larger orders may allow for...






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






28. Cotton Inc. - Wool Bureau






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






30. 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






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






32. Focuses on the business itself






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






34. Where store execs are housed






35. Italian fashion - Knits - Shoes - Menswear






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






37. Focus specifically on product






38. Typically 6 months prior to season






39. Selling responsibilities






40. Responsible for establishing the store's image






41. Small specialized store of a department store






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






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






44. Conduct own research






45. Focuses on management and market research






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






47. Germany - Spain - Eastern Block






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






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






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







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