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. Manufacturers Attend Market to...






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






3. Ads; focuses on business itself






4. Located in market






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






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






7. Focuses on a particular item or product






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






9. Where store execs are housed






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






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






12. Quantity of different items offered






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






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






15. Focuses on the business itself






16. Current information on trends






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






18. Small operation






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






20. Door-to-door or house parties






21. Buying - selling - and planning of merchandise






22. Italian fashion - Knits - Shoes - Menswear






23. 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






24. Order from catalog and pick up immediately






25. Shoplifting - internal theft - inaccurate records






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






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






28. Market area - Assists specialized (central) buyer






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






30. Compare what is available from the competition






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






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






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






34. Sales records - Sales people






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






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






37. Number of different items offered






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






39. Focus specifically on product






40. Cotton Inc. - Wool Bureau






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






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






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






44. Most aware of what is selling (bias)






45. 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






46. Menswear






47. Small specialized store of a department store






48. Focuses on management and market research






49. Conduct own research






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