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






2. Menswear






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






4. Market area - Assists specialized (central) buyer






5. Germany - Spain - Eastern Block






6. 2nd largest leasing space available






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






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






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






10. 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






11. Creates fashion looks for magazine phot - shoots - company catalogs - etc.






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






13. Focuses on the business itself






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






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






16. Shoplifting - internal theft - inaccurate records






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






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






19. Focus specifically on product






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






21. Responsible for several areas






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






23. Typically 6 months prior to season






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






25. Located in market






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






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






28. Number of different items offered






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






30. Focuses on a particular item or product






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






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






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






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






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






36. Merchandising - Buying - Product Development Organizations






37. Responsible for a department/area






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






39. Television or computer shopping






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






41. Small specialized store of a department store






42. Compare what is available from the competition






43. Buying - selling - and planning of merchandise






44. 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






45. Regional center for bridal - evening wear






46. Current information on trends






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






48. Larger orders may allow for...






49. 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






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