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






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






3. Sales records - Sales people






4. Focuses on management and market research






5. Shoplifting - internal theft - inaccurate records






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






7. 2nd largest leasing space available






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






9. Market area - Assists specialized (central) buyer






10. Small operation






11. Chain






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






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






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






15. Mass - staples






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






17. Germany - Spain - Eastern Block






18. Conduct own research






19. Italian fashion - Knits - Shoes - Menswear






20. Located in market






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






22. Door-to-door or house parties






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






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






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






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






27. Responsible for a department/area






28. Focus specifically on product






29. Typically 6 months prior to season






30. Small specialized store of a department store






31. 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






32. Merchandising - Buying - Product Development Organizations






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






34. Responsible for several areas






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






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






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






39. 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






40. Focuses on the business itself






41. Merchandising offerings - Appropriate for customers






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






43. Selling responsibilities






44. Buying - selling - and planning of merchandise






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






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






47. Number of different items offered






48. Responsible for establishing the store's image






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






50. People who shop for clients