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






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






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






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






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






6. Variety of low priced merchandise






7. Regional center for bridal - evening wear






8. Conduct own research






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






10. Responsible for a department/area






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






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






13. Where store execs are housed






14. Cotton Inc. - Wool Bureau






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






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






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






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






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






20. Current information on trends






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






22. 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






23. Responsible for establishing the store's image






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






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






26. 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






27. Located in market






28. Order from catalog and pick up immediately






29. Manufacturers Attend Market to...






30. Larger orders may allow for...






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






32. Typically 6 months prior to season






33. Ads; focuses on business itself






34. Focuses on the business itself






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






36. Market area - Assists specialized (central) buyer






37. Television or computer shopping






38. Quantity of different items offered






39. Number of different items offered






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






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






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






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






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






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






46. Responsible for several areas






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






48. Focuses on management and market research






49. Focus specifically on product






50. Italian fashion - Knits - Shoes - Menswear