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. Variety of low priced merchandise






2. Buying - selling - and planning of merchandise






3. Chain






4. Selling responsibilities






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






6. Cotton Inc. - Wool Bureau






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






8. Market area - Assists specialized (central) buyer






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






10. Regional center for bridal - evening wear






11. Where store execs are housed






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






13. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock






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






15. 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






16. Located in market






17. Order from catalog and pick up immediately






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






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






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






21. 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






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


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






24. Responsible for establishing the store's image






25. Responsible for several areas






26. Mass - staples






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






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






29. 2nd largest leasing space available






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






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






32. 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






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






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






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






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






37. Television or computer shopping






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






39. Typically 6 months prior to season






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






41. Focuses on the business itself






42. Small specialized store of a department store






43. 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






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






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






46. Focuses on management and market research






47. Quantity of different items offered






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






49. Responsible for a department/area






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