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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. Focus specifically on product

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

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

4. Small specialized store of a department store

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

6. 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

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

8. Sales records - Sales people

9. Responsible for a department/area

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

11. Small operation

12. Door-to-door or house parties

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

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

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

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

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

18. Focuses on management and market research

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

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

21. Shoplifting - internal theft - inaccurate records

22. Larger orders may allow for...

23. Variety of low priced merchandise

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

26. Where store execs are housed

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

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

29. Ads; focuses on business itself

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

31. To actually see the merchandise and judge how it will look in store - To find new resources for merchandise - Stores will always carry some traditional vendors But are constantly seeking new sources - Talk to other and get a feel for the trends and

32. Manufacturers Attend Market to...

33. Quantity of different items offered

34. Menswear

35. Order from catalog and pick up immediately

36. Merchandising offerings - Appropriate for customers

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

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

39. Regional center for bridal - evening wear

40. Market area - Assists specialized (central) buyer

41. Merchandising - Buying - Product Development Organizations

42. 2nd largest leasing space available

43. Italian fashion - Knits - Shoes - Menswear

44. Chain

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

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

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

48. Located in market

49. Current information on trends

50. When merchandise (inventory and ordered) is GREATER than need