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. 2nd largest leasing space available






2. Small operation






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






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






5. Variety of low priced merchandise






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






7. Buying - selling - and planning of merchandise






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






9. Focuses on a particular item or product






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






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






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






13. Conduct own research






14. Quantity of different items offered






15. Italian fashion - Knits - Shoes - Menswear






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






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






18. Menswear






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






20. Number of different items offered






21. Selling responsibilities






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






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






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

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25. 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






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






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






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






29. Cotton Inc. - Wool Bureau






30. Where store execs are housed






31. Larger orders may allow for...






32. Small specialized store of a department store






33. Responsible for a department/area






34. Merchandising offerings - Appropriate for customers






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






36. 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






37. 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






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






39. Mass - staples






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






41. Shoplifting - internal theft - inaccurate records






42. Responsible for establishing the store's image






43. Regional center for bridal - evening wear






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






45. Focuses on the business itself






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






47. Manufacturers Attend Market to...






48. Germany - Spain - Eastern Block






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






50. Responsible for several areas