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. 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






2. Regional center for bridal - evening wear






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






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






5. Most aware of what is selling (bias)






6. 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






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






8. Television or computer shopping






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






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






11. Shoplifting - internal theft - inaccurate records






12. Chain






13. Buying - selling - and planning of merchandise






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






15. Focuses on the business itself






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






17. Manufacturers Attend Market to...






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






19. Mass - staples






20. 2nd largest leasing space available






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






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






23. Conduct own research






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






25. Ads; focuses on business itself






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






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






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






29. Small specialized store of a department store






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






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






32. Larger orders may allow for...






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






34. Selling responsibilities






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






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






37. Variety of low priced merchandise






38. Focuses on a particular item or product






39. Responsible for establishing the store's image






40. Responsible for several areas






41. 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






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






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

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44. Focuses on management and market research






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






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






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






48. Compare what is available from the competition






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






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