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. Sales records - Sales people






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






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






4. Market area - Assists specialized (central) buyer






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






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






7. Ads; focuses on business itself






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






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






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






11. Larger orders may allow for...






12. Compare what is available from the competition






13. Most aware of what is selling (bias)






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






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






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






17. Menswear






18. Selling responsibilities






19. Small operation






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






21. Order from catalog and pick up immediately






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






23. 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






24. Merchandising offerings - Appropriate for customers






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






26. Responsible for a department/area






27. Chain






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






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






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






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






32. 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






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






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






35. 2nd largest leasing space available






36. Shoplifting - internal theft - inaccurate records






37. 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






38. Variety of low priced merchandise






39. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later






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






41. Focus specifically on product






42. Conduct own research






43. Current information on trends






44. Television or computer shopping






45. Regional center for bridal - evening wear






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






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






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






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






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