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Fashion Merchandizing

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. Chain






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






3. Market area - Assists specialized (central) buyer






4. 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






5. Sourcing - Logistics related to - importing - Managing information systems

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6. Ads; focuses on business itself






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






8. Large number of resources centered in 7th Avenue area - Largest and most important domestically






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






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






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






12. Small operation






13. Responsible for establishing the store's image






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






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






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






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






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






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






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






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






22. Germany - Spain - Eastern Block






23. Cotton Inc. - Wool Bureau






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






25. Regional center for bridal - evening wear






26. Focuses on a particular item or product






27. 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






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






29. Order from catalog and pick up immediately






30. Focuses on management and market research






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






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






33. Mass - staples






34. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources






35. Television or computer shopping






36. Manufacturers Attend Market to...






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






38. Conduct own research






39. Quantity of different items offered






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






41. Sales records - Sales people






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






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






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






45. Larger orders may allow for...






46. Merchandising - Buying - Product Development Organizations






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






48. Italian fashion - Knits - Shoes - Menswear






49. 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






50. Variety of low priced merchandise







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