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. Variety of low priced merchandise






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






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






5. Chain






6. Small operation






7. Located in market






8. Where store execs are housed






9. Most aware of what is selling (bias)






10. Italian fashion - Knits - Shoes - Menswear






11. Quantity of different items offered






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






13. Merchandising - Buying - Product Development Organizations






14. 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






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






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






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






18. Focuses on management and market research






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






20. Larger orders may allow for...






21. Shoplifting - internal theft - inaccurate records






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






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






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






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






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






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






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






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






30. Sales records - Sales people






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






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






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






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






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






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






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






38. Compare what is available from the competition






39. Specialize in brand and designer name clothing at discounted prices






40. 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






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






42. Cotton Inc. - Wool Bureau






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






44. Selling responsibilities






45. Typically 6 months prior to season






46. Responsible for several areas






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






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






49. Television or computer shopping






50. Focuses on a particular item or product