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






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






3. Focuses on the business itself






4. 2nd largest leasing space available






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






6. People who shop for clients






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






8. Manufacturers Attend Market to...






9. Small operation






10. Market area - Assists specialized (central) buyer






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






12. Merchandising - Buying - Product Development Organizations






13. Number of different items offered






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






15. Regional center for bridal - evening wear






16. Small specialized store of a department store






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






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






19. Compare what is available from the competition






20. 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






21. Variety of low priced merchandise






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

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23. Merchandising offerings - Appropriate for customers






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






25. 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






26. Sales records - Sales people






27. Focus specifically on product






28. Located in market






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






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






31. Germany - Spain - Eastern Block






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






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






34. Responsible for several areas






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






36. Responsible for establishing the store's image






37. Where store execs are housed






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






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






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






41. Italian fashion - Knits - Shoes - Menswear






42. Larger orders may allow for...






43. Buying - selling - and planning of merchandise






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






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






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






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






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






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






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