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






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






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






4. Door-to-door or house parties






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






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






7. Chain






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






9. Selling responsibilities






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






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






12. Order from catalog and pick up immediately






13. Cotton Inc. - Wool Bureau






14. Market area - Assists specialized (central) buyer






15. Mass - staples






16. Responsible for a department/area






17. Compare what is available from the competition






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






19. Quantity of different items offered






20. Variety of low priced merchandise






21. Manufacturers Attend Market to...






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






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






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






25. Germany - Spain - Eastern Block






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






27. 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






28. Where store execs are housed






29. Focuses on management and market research






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






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


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






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






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






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






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






37. Regional center for bridal - evening wear






38. Focus specifically on product






39. Most aware of what is selling (bias)






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






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






42. Focuses on the business itself






43. Responsible for several areas






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






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






46. Sales records - Sales people






47. Number of different items offered






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






49. Focuses on a particular item or product






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