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






2. Order from catalog and pick up immediately






3. People who shop for clients






4. Located in market






5. Small operation






6. 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






7. Italian fashion - Knits - Shoes - Menswear






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






9. Typically 6 months prior to season






10. Current information on trends






11. Merchandising - Buying - Product Development Organizations






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






13. 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






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






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






16. Television or computer shopping






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






18. Responsible for establishing the store's image






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






20. 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






21. Where store execs are housed






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






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






24. Ads; focuses on business itself






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






26. Shoplifting - internal theft - inaccurate records






27. Buying - selling - and planning of merchandise






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






29. 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






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






31. Most aware of what is selling (bias)






32. Small specialized store of a department store






33. Number of different items offered






34. Focus specifically on product






35. Door-to-door or house parties






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






37. Focuses on management and market research






38. Responsible for several areas






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






40. Regional center for bridal - evening wear






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






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






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






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






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






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






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






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






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






50. Responsible for a department/area