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. Responsible for a department/area






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






4. Responsible for several areas






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






6. Buying - selling - and planning of merchandise






7. Mass - staples






8. Current information on trends






9. Merchandising offerings - Appropriate for customers






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






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






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






13. Typically 6 months prior to season






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






15. Cotton Inc. - Wool Bureau






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






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






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






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






20. Small specialized store of a department store






21. Focuses on the business itself






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






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






24. Door-to-door or house parties






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






26. Compare what is available from the competition






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






28. People who shop for clients






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






30. Order from catalog and pick up immediately






31. Where store execs are housed






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






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






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






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






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






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






38. Small operation






39. Italian fashion - Knits - Shoes - Menswear






40. Manufacturers Attend Market to...






41. Germany - Spain - Eastern Block






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






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






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






45. Conduct own research






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






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






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






49. Most aware of what is selling (bias)






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

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