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. Shoplifting - internal theft - inaccurate records






2. Focus specifically on product






3. Television or computer shopping






4. Buying - selling - and planning of merchandise






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






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






7. Conduct own research






8. Focuses on a particular item or product






9. 2nd largest leasing space available






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






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






12. Number of different items offered






13. Responsible for establishing the store's image






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






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






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






17. Most aware of what is selling (bias)






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






19. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line






20. Quantity of different items offered






21. Responsible for several areas






22. Chain






23. Compare what is available from the competition






24. Merchandising offerings - Appropriate for customers






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






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






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






28. Manufacturers Attend Market to...






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






30. Variety of low priced merchandise






31. 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






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






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






34. Ads; focuses on 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. Larger orders may allow for...






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






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






39. Mass - staples






40. Germany - Spain - Eastern Block






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






42. Merchandising - Buying - Product Development Organizations






43. Regional center for bridal - evening wear






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


45. Where store execs are housed






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






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






48. Market area - Assists specialized (central) buyer






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






50. 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