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






2. Germany - Spain - Eastern Block






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






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






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






6. Focuses on a particular item or product






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






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






9. Focuses on the business itself






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






11. Current information on trends






12. Larger orders may allow for...






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






14. Television or computer shopping






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






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






17. Merchandising - Buying - Product Development Organizations






18. Typically 6 months prior to season






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






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






21. Regional center for bridal - evening wear






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






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. Sales records - Sales people






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






26. Chain






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






28. Mass - staples






29. Order from catalog and pick up immediately






30. Where store execs are housed






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






32. Small operation






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






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






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






36. Small specialized store of a department store






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






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






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






40. Cotton Inc. - Wool Bureau






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






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






43. Focuses on management and market research






44. Merchandising offerings - Appropriate for customers






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






46. 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






47. Menswear






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






49. Responsible for establishing the store's image






50. 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