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






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






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






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






5. Conduct own research






6. Most aware of what is selling (bias)






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






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






9. Small specialized store of a department store






10. Sales records - Sales people






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






12. Buying - selling - and planning of merchandise






13. People who shop for clients






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






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






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






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






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






19. Responsible for establishing the store's image






20. Shoplifting - internal theft - inaccurate records






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






22. 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






23. Merchandising - Buying - Product Development Organizations






24. 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






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






26. Menswear






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






28. Where store execs are housed






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






30. Selling responsibilities






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






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






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






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






35. Responsible for a department/area






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






37. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)






38. Order from catalog and pick up immediately






39. Larger orders may allow for...






40. 2nd largest leasing space available






41. Focuses on a particular item or product






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






43. Television or computer shopping






44. Ads; focuses on business itself






45. Focus specifically on product






46. Compare what is available from the competition






47. Italian fashion - Knits - Shoes - Menswear






48. Germany - Spain - Eastern Block






49. Focuses on the business itself






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