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






2. Responsible for establishing the store's image






3. Italian fashion - Knits - Shoes - Menswear






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






5. Focuses on a particular item or product






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






7. Small operation






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






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






10. Larger orders may allow for...






11. Door-to-door or house parties






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






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






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






15. 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






16. Focuses on management and market research






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

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18. Sales records - Sales people






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






20. Chain






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






22. Current information on trends






23. 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






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






25. Menswear






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






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






28. People who shop for clients






29. Merchandising - Buying - Product Development Organizations






30. Mass - staples






31. Variety of low priced merchandise






32. 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






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






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






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






36. 2nd largest leasing space available






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






38. Buying - selling - and planning of merchandise






39. Where store execs are housed






40. Order from catalog and pick up immediately






41. Focuses on the business itself






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






43. Market area - Assists specialized (central) buyer






44. Located in market






45. Most aware of what is selling (bias)






46. Television or computer shopping






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






48. Number of different items offered






49. Responsible for a department/area






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