Merchandising Acquisitions And Allocations Final

Front 1

Quick MD strategy, the first price the consumer sees is the premium/first price

Back 1

true

Front 2

• Theory X management style utilizes style utilizes a highly complex interactive decision-making matrix

Back 2

false

Front 3

• Line planning involves synthesizing current issues, evaluating past seasons, and developing merchandise budgets

Back 3

true

Front 4

• Predatory pricing is illegal

Back 4

true

Front 5

• After a product is brought in at an established retail price, all changes are based on the first

Back 5

true

Front 6

• A retailer would be very likely to take quick MD on staple goods

Back 6

false

Front 7

• Bottom-up line- lowest levels at firm

Back 7

true

Front 8

• Basic/staple goods normally less than 26 weeks

Back 8

false

Front 9

• At-market position means prices 2 or 3 points within line

Back 9

false

Front 10

• Merchandising only retail level

Back 10

false

Front 11

• Establishing line direction and merchandise group concepts are part of line planning

Back 11

false

Front 12

• The potential selling periods of fashion/staple goods 52-104 weeks

Back 12

false

Front 13

• Price asked when increasing the appeal of goods inventory management

Back 13

clearance price

Front 14

• Price offered in advertising or on price tickets regular price

Back 14

reference price

Front 15

• Base price for retail price structures

Back 15

first price

Front 16

• Price for liquidating distressed goods to jobber

Back 16

job-off

Front 17

• Price set

Back 17

above market

Front 18

• Defined as selling

Back 18

week of sale

Front 19

• Specialty stores take markdowns

Back 19

at the end of the season

Front 20

• Goods require frequent change

Back 20

fashion

Front 21

• BTAF

Back 21

all the above are true

Front 22

• EDLP lowest price in local selling market

Back 22

sun electronics

Front 23

• Not income measurements

Back 23

operating expenses

Front 24

• How much greater first price is from the cost

Back 24

initial markup

Front 25

• Time period that merchandise is saleable

Back 25

selling period

Front 26

• Common range for gross margin

Back 26

30-45%

Front 27

• Establish firm’s goal and decision making

Back 27

executive

Front 28

• Prestige pricing

Back 28

status or psychological pricing

Front 29

• GM in the difference between GS and COGS

Back 29

not true regarding planning GM

Front 30

• Greatest emphasis on direct selling to the ultimate consumer

Back 30

retail

Front 31

• Compared with traditional line planning, contemporary line planning may be more flexible responding to change in the market

Back 31

-

Front 32

• Planning, developing, and presentation of product lines for identified target markets with regard to prices, assortment, styling, timing

Back 32

merchandising

Front 33

• White segments TAMS are direct responsibilities of merchandisers

Back 33

TAMS not true

Front 34

• TAMS is one year, first week Feb, last week Jan

Back 34

-

Front 35

• NS – COGS = GM – Exp = Operating profit

Back 35

-

Front 36

• An effective merchandise budget___

Back 36

A and B- sales goal and how much merchandise should be received

Front 37

• Which one of the following is regarded as an average sales per square foot figure for apparel

Back 37

$250

Front 38

• The assortment factor that commonly form the basis of a merchandise plan for apparel include

Back 38

all of the above

Front 39

• The more focused the assortment

Back 39

less variety

Front 40

• Yves works to help interpret and negotiate during the buyer-vendor meetings. He works for a

Back 40

resident buying offices

Front 41

• A model stock

Back 41

all of the above

Front 42

• Which of the following is a drawback when engaging in its own product development for a retailer?

Back 42

all of the above

Front 43

• Which of the following methods of planning inventory is most appropriate for basic/staple goods?

Back 43

o Periodic replenishment method

Front 44

• Using a multiple delivery that includes delivery of merchandise as needed through the selling season will

Back 44

o Decrease average inventory

Front 45

• Which of the following is not a goal for planning inventory and purchases during the selling period?

Back 45

o Maximize inventory investment

Front 46

• ______ means the retail company is completing what have traditionally been seen as manufacturing functions

Back 46

o Engaging in private label product development

Front 47

• When assortments are balanced, stock outs are less likely to occur

Back 47

true

Front 48

• Average inventory has no impact on product velocity

Back 48

false

Front 49

• To be most effective, retail merchandise budgets should be developed at the store level and classification

Back 49

true

Front 50

• Finished goods buying/sourcing and/or product development are two means of completing line development

Back 50

true

Front 51

• Consciously designed environments for merchandise presentation contain primarily utilitarian benefits

Back 51

false

Front 52

• The lower the VSA the higher the financial productivity

Back 52

false

Front 53

• Multiple delivery strategies require POS retail terminals

Back 53

true

Front 54

• Dimensions that define the characteristics of a product for purposes of identifying and describing is

Back 54

assortment factor

Front 55

• The smallest unit for counting inventory and planning assortments

Back 55

SKUs

Front 56

• Total number of units in the assortment

Back 56

assortment volume

Front 57

• Total number of SKUs in the assortments

Back 57

assortment variety