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. Small operation






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






4. Manufacturers Attend Market to...






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






6. Focus specifically on product






7. Focuses on the business itself






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






9. 2nd largest leasing space available






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

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






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






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






14. Responsible for several areas






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






16. Current information on trends






17. Market area - Assists specialized (central) buyer






18. Door-to-door or house parties






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






20. Buying - selling - and planning of merchandise






21. Chain






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






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






24. Quantity of different items offered






25. 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






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






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






28. Number of different items offered






29. Conduct own research






30. Located in market






31. Responsible for a department/area






32. Merchandising offerings - Appropriate for customers






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






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






35. Regional center for bridal - evening wear






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






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






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






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






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






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






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






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






44. Merchandising - Buying - Product Development Organizations






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






46. Order from catalog and pick up immediately






47. Responsible for establishing the store's image






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






49. Where store execs are housed






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