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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. WWD - DNR - stores (consumer fashion magazines)






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






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






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






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






6. Responsible for several areas






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






8. Responsible for establishing the store's image






9. Variety of low priced merchandise






10. Door-to-door or house parties






11. Responsible for a department/area






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






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






14. Menswear






15. Quantity of different items offered






16. Focuses on the business itself






17. Germany - Spain - Eastern Block






18. Chain






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






20. 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






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






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






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






24. Buying - selling - and planning of merchandise






25. Manufacturers Attend Market to...






26. Merchandising offerings - Appropriate for customers






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






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






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






30. 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






31. Selling responsibilities






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






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






34. Focus specifically on product






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






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






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






38. Where store execs are housed






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






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






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






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






43. Merchandising - Buying - Product Development Organizations






44. Number of different items offered






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






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






47. Small specialized store of a department store






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






49. Larger orders may allow for...






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







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