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






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






3. Quantity of different items offered






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






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






6. Number of different items offered






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






8. Selling responsibilities






9. When merchandise (inventory and ordered) is GREATER than need






10. Merchandising - Buying - Product Development Organizations






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






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






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






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






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






16. Market area - Assists specialized (central) buyer






17. 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






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






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






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






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






22. Most aware of what is selling (bias)






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






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






25. Current information on trends






26. Conduct own research






27. Buying - selling - and planning of merchandise






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






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






30. Regional center for bridal - evening wear






31. Where store execs are housed






32. 2nd largest leasing space available






33. Ads; focuses on business itself






34. Sales records - Sales people






35. Manufacturers Attend Market to...






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






37. Order from catalog and pick up immediately






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






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






40. Variety of low priced merchandise






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






42. Focuses on a particular item or product






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






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






45. People who shop for clients






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






47. Larger orders may allow for...






48. Cotton Inc. - Wool Bureau






49. Italian fashion - Knits - Shoes - Menswear






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