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. Most aware of what is selling (bias)






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






3. Focuses on the business itself






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






5. Focuses on a particular item or product






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






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






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






9. Typically 6 months prior to season






10. Door-to-door or house parties






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






12. Cotton Inc. - Wool Bureau






13. Variety of low priced merchandise






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






15. Screens the market for the store buyer (represents the buyer) - Group buying- allows for lower prices due to volume buying - Assist with private label- product development sourcing - Assist with foreign buying






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






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






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






19. Italian fashion - Knits - Shoes - Menswear






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






21. Market area - Assists specialized (central) buyer






22. Mass - staples






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






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






25. Regional center for bridal - evening wear






26. People who shop for clients






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






28. Responsible for establishing the store's image






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






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






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






32. Shoplifting - internal theft - inaccurate records






33. Manufacturers Attend Market to...






34. 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






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






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






37. Quantity of different items offered






38. Number of different items offered






39. Buying - selling - and planning of merchandise






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






41. 2nd largest leasing space available






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






43. Compare what is available from the competition






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






45. 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






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






47. Germany - Spain - Eastern Block






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






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






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