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






2. Buying - selling - and planning of merchandise






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






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






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






6. Responsible for a department/area






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






8. Germany - Spain - Eastern Block






9. Chain






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






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






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






13. Compare what is available from the competition






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






15. 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






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






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






18. 2nd largest leasing space available






19. 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






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






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






22. Number of different items offered






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






24. Quantity of different items offered






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






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






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






28. 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






29. Sales records - Sales people






30. 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






31. Specialize in brand and designer name clothing at discounted prices






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






33. Focus specifically on product






34. Mass - staples






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






36. Typically 6 months prior to season






37. Regional center for bridal - evening wear






38. Current information on trends






39. Located in market






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






41. Responsible for several areas






42. Shoplifting - internal theft - inaccurate records






43. Store's own label for career and casual sportswear; prices vary (better to moderate)






44. Larger orders may allow for...






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






46. Variety of low priced merchandise






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






48. Television or computer shopping






49. Where store execs are housed






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