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. Compare what is available from the competition






2. Cotton Inc. - Wool Bureau






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






4. 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






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






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






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






8. Larger orders may allow for...






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






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






11. Ads; focuses on business itself






12. Shoplifting - internal theft - inaccurate records






13. Most aware of what is selling (bias)






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






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






16. Italian fashion - Knits - Shoes - Menswear






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






18. Where store execs are housed






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






20. Mass - staples






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






22. 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






23. Merchandising - Buying - Product Development Organizations






24. 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






25. Sales records - Sales people






26. Focuses on management and market research






27. Manufacturers Attend Market to...






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






29. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line






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






31. Germany - Spain - Eastern Block






32. Small specialized store of a department store






33. Current information on trends






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






35. 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






36. Focuses on a particular item or product






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

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






39. Responsible for establishing the store's image






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






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






42. Buying - selling - and planning of merchandise






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






44. Door-to-door or house parties






45. Variety of low priced merchandise






46. 2nd largest leasing space available






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






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






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






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