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






2. Small operation






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






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






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






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






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






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






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






10. 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






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






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






13. Small specialized store of a department store






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






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






16. 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






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






18. Chain






19. Shoplifting - internal theft - inaccurate records






20. Mass - staples






21. Cotton Inc. - Wool Bureau






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






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

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






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






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






27. Focus specifically on product






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






29. Focuses on management and market research






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






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






32. Buying - selling - and planning of merchandise






33. 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






34. Focuses on the business itself






35. 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






36. Responsible for establishing the store's image






37. 2nd largest leasing space available






38. 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






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






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






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






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






43. Typically 6 months prior to season






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






45. Menswear






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






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






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






49. Quantity of different items offered






50. Responsible for a department/area







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