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Fashion Merchandizing

Instructions:
  • 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. 2nd largest leasing space available






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






3. Responsible for establishing the store's image






4. Shoplifting - internal theft - inaccurate records






5. Italian fashion - Knits - Shoes - Menswear






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






7. Located in market






8. Menswear






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






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






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






12. Focuses on management and market research






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






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






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






16. 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






17. Merchandising - Buying - Product Development Organizations






18. Where store execs are housed






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






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






21. Mass - staples






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






23. Number of different items offered






24. Small operation






25. Television or computer shopping






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






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






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






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






30. Conduct own research






31. Buying - selling - and planning of merchandise






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






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






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






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






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






37. Manufacturers Attend Market to...






38. Focuses on a particular item or product






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

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






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






42. Chain






43. 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






44. Market area - Assists specialized (central) buyer






45. Small specialized store of a department store






46. Quantity of different items offered






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






48. People who shop for clients






49. Ads; focuses on business itself






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







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