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






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






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






4. Manufacturers Attend Market to...






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






6. Focus specifically on product






7. Market area - Assists specialized (central) buyer






8. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers






9. Focuses on management and market research






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






11. Regional center for bridal - evening wear






12. 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






13. Located in market






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






15. Not paid for by the retailer and the retailer doesn't have control over what is said






16. Selling responsibilities






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






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






19. Quantity of different items offered






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






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






22. Variety of low priced merchandise






23. Focuses on the business itself






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






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






26. Number of different items offered






27. Where store execs are housed






28. Shoplifting - internal theft - inaccurate records






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






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






31. Chain






32. Merchandising offerings - Appropriate for customers






33. Current information on trends






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






35. 2nd largest leasing space available






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






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






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






39. Sales records - Sales people






40. Conduct own research






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






42. Buying - selling - and planning of merchandise






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






44. 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






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






46. People who shop for clients






47. Larger orders may allow for...






48. Door-to-door or house parties






49. Small operation






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