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. Door-to-door or house parties






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






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






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






5. Market area - Assists specialized (central) buyer






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






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






8. Focuses on the business itself






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






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






11. Quantity of different items offered






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






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






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






15. Italian fashion - Knits - Shoes - Menswear






16. 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






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






18. Manufacturers Attend Market to...






19. Variety of low priced merchandise






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






21. 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






22. Regional center for bridal - evening wear






23. Small specialized store of a department store






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






25. Conduct own research






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






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






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






29. Cotton Inc. - Wool Bureau






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






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






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






33. Focuses on a particular item or product






34. Mass - staples






35. Selling responsibilities






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






37. Merchandising offerings - Appropriate for customers






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






39. Sales records - Sales people






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






41. 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






42. 2nd largest leasing space available






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






44. 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






45. Typically 6 months prior to season






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






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






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






49. Responsible for a department/area






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