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. Management consultants - Technical consultants - Import and export consultants






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






3. Responsible for establishing the store's image






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






5. Where store execs are housed






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






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






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






9. Located in market






10. Responsible for several areas






11. Menswear






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






13. Quantity of different items offered






14. Market area - Assists specialized (central) buyer






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






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






17. Italian fashion - Knits - Shoes - Menswear






18. Merchandising offerings - Appropriate for customers






19. 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






20. Conduct own research






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. Focuses on a particular item or product






23. People who shop for clients






24. Order from catalog and pick up immediately






25. Variety of low priced merchandise






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






27. Focuses on the business itself






28. Responsible for a department/area






29. Current information on trends






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






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






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






33. Most aware of what is selling (bias)






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






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






36. 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






37. 2nd largest leasing space available






38. Small operation






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






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






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






42. Sales records - Sales people






43. Regional center for bridal - evening wear






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






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






46. Buying - selling - and planning of merchandise






47. Television or computer shopping






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






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






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