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. Number of different items offered






2. Merchandising offerings - Appropriate for customers






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






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






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






6. Focuses on management and market research






7. Responsible for several areas






8. 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






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






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






11. Small specialized store of a department store






12. Small operation






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






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






15. Merchandising - Buying - Product Development Organizations






16. 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






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






18. Store open another facility in a different location - often in suburbs






19. Door-to-door or house parties






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






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






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






23. Order from catalog and pick up immediately






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






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






26. Responsible for a department/area






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






28. Located in market






29. Responsible for establishing the store's image






30. Shoplifting - internal theft - inaccurate records






31. Most aware of what is selling (bias)






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






33. Focuses on a particular item or product






34. Buying - selling - and planning of merchandise






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






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






37. Manufacturers Attend Market to...






38. Cotton Inc. - Wool Bureau






39. Compare what is available from the competition






40. Where store execs are housed






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






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






43. Typically 6 months prior to season






44. Current information on trends






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






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






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






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






49. Focus specifically on product






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