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






3. Regional center for bridal - evening wear






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






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






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






7. Order from catalog and pick up immediately






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






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






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






11. Chain






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






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






14. Typically 6 months prior to season






15. 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






16. Door-to-door or house parties






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






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






19. Where store execs are housed






20. Ads; focuses on business itself






21. 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






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






23. Italian fashion - Knits - Shoes - Menswear






24. Focuses on the business itself






25. Menswear






26. 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






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


28. Merchandising offerings - Appropriate for customers






29. Focus specifically on product






30. Shoplifting - internal theft - inaccurate records






31. Variety of low priced merchandise






32. Located in market






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






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






35. Number of different items offered






36. 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






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






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






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






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






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






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






43. Buying - selling - and planning of merchandise






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






45. Selling responsibilities






46. Small operation






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






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






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






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