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. Quantity of different items offered






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






3. Compare what is available from the competition






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






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






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






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






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






9. Responsible for establishing the store's image






10. Responsible for several areas






11. Small specialized store of a department store






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






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






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






15. Regional center for bridal - evening wear






16. Focuses on the business itself






17. Responsible for a department/area






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






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






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






21. Ads; focuses on business itself






22. Shoplifting - internal theft - inaccurate records






23. Merchandising offerings - Appropriate for customers






24. Typically 6 months prior to season






25. 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






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






27. Chain






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






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






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






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






32. Italian fashion - Knits - Shoes - Menswear






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






34. Most aware of what is selling (bias)






35. Television or computer shopping






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






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






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






39. Focus specifically on product






40. Number of different items offered






41. Located in market






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






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






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






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






46. Mass - staples






47. 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






48. Where store execs are housed






49. Current information on trends






50. People who shop for clients