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






2. Conduct own research






3. Responsible for establishing the store's image






4. People who shop for clients






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






6. Responsible for several areas






7. Chain






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






9. 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






10. Cotton Inc. - Wool Bureau






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






12. Responsible for a department/area






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






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






15. Ads; focuses on business itself






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






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


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






19. Italian fashion - Knits - Shoes - Menswear






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






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






22. Most aware of what is selling (bias)






23. Typically 6 months prior to season






24. Shoplifting - internal theft - inaccurate records






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






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






27. Selling responsibilities






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






29. Manufacturers Attend Market to...






30. Focus specifically on product






31. Order from catalog and pick up immediately






32. Number of different items offered






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






34. 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






35. Where store execs are housed






36. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources






37. Larger orders may allow for...






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






39. Merchandising offerings - Appropriate for customers






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






41. Variety of low priced merchandise






42. Focuses on the business itself






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






44. Focuses on a particular item or product






45. Menswear






46. Market area - Assists specialized (central) buyer






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






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






49. Quantity of different items offered






50. Focuses on management and market research