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. People who shop for clients






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






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






4. 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






5. Buying - selling - and planning of merchandise






6. Located in market






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






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






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






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






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






12. Larger orders may allow for...






13. Focus specifically on product






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






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






16. Small specialized store of a department store






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






18. 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






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






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






21. 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






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






23. Most aware of what is selling (bias)






24. Merchandising - Buying - Product Development Organizations






25. Ads; focuses on business itself






26. Order from catalog and pick up immediately






27. Responsible for several areas






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






29. Chain






30. Quantity of different items offered






31. Merchandising offerings - Appropriate for customers






32. Focuses on the business itself






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






34. Current information on trends






35. Sales records - Sales people






36. Television or computer shopping






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






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






39. Conduct own research






40. These reach out and sell to - small fashion retailers in surrounding areas - serve as a wholesale selling facility for apparel producers - Better understanding of the local consumer






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






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






43. Mass - staples






44. Shoplifting - internal theft - inaccurate records






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






46. Menswear






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






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






49. Responsible for a department/area






50. Focuses on management and market research