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






2. Where store execs are housed






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






4. People who shop for clients






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






6. Most aware of what is selling (bias)






7. Current information on trends






8. Sales records - Sales people






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






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






11. Selling responsibilities






12. Door-to-door or house parties






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






14. Focus specifically on product






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






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






17. Italian fashion - Knits - Shoes - Menswear






18. Chain






19. Small specialized store of a department store






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






21. Merchandising offerings - Appropriate for customers






22. Germany - Spain - Eastern Block






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






24. Focuses on management and market research






25. Typically 6 months prior to season






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






27. Focuses on a particular item or product






28. Number of different items offered






29. Manufacturers Attend Market to...






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






31. Regional center for bridal - evening wear






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






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






34. Focuses on the business itself






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. Shoplifting - internal theft - inaccurate records






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






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






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






40. Small area within a store for designers or popular manufacturers






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






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






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. Menswear






45. Order from catalog and pick up immediately






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






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






48. 2nd largest leasing space available






49. Mass - staples






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