Test your basic knowledge |

Fashion Merchandizing

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • 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. WWD - DNR - stores (consumer fashion magazines)






3. Manufacturers Attend Market to...






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






5. 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






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






7. Mass - staples






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






9. Selling responsibilities






10. Television or computer shopping






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






12. Focuses on management and market research






13. 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






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






15. Shoplifting - internal theft - inaccurate records






16. Compare what is available from the competition






17. Responsible for establishing the store's image






18. Regional center for bridal - evening wear






19. Ads; focuses on business itself






20. Menswear






21. Responsible for a department/area






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






23. 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






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






25. Most aware of what is selling (bias)






26. 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






27. Merchandising offerings - Appropriate for customers






28. Develops clothing for actors in plays - movies - and television






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






30. People who shop for clients






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






32. Small specialized store of a department store






33. Quantity of different items offered






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






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






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






37. Conduct own research






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






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






40. 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






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






42. Focus specifically on product






43. Market area - Assists specialized (central) buyer






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






45. Germany - Spain - Eastern Block






46. Focuses on the business itself






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






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






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






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