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. Larger orders may allow for...






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






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






4. Responsible for a department/area






5. Order from catalog and pick up immediately






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






7. Variety of low priced merchandise






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






9. 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






10. 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






11. Most aware of what is selling (bias)






12. Merchandising offerings - Appropriate for customers






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






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






15. Responsible for establishing the store's image






16. People who shop for clients






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






18. Number of different items offered






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






20. Focuses on a particular item or product






21. Image Merchandise/promotional -advertising agencies bid for client accounts






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






23. Current information on trends






24. 2nd largest leasing space available






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






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






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






28. Mass - staples






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






30. Focuses on management and market research






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






32. Buying - selling - and planning of merchandise






33. Small specialized store of a department store






34. Merchandising - Buying - Product Development Organizations






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






36. Ads; focuses on business itself






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






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






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






40. 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






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






42. Located in market






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






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






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






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






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






48. 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






49. Focus specifically on product






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