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






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






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

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4. Larger orders may allow for...






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






6. When merchandise (inventory and ordered) is GREATER than need






7. Small specialized store of a department store






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






9. Focus specifically on product






10. Manufacturers Attend Market to...






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






12. Door-to-door or house parties






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






14. People who shop for clients






15. Conduct own research






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






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






18. Quantity of different items offered






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






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






21. Order from catalog and pick up immediately






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






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






24. Merchandising - Buying - Product Development Organizations






25. Small operation






26. Selling responsibilities






27. Market area - Assists specialized (central) buyer






28. Responsible for a department/area






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






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






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






32. Sales records - Sales people






33. Television or computer shopping






34. 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






35. Italian fashion - Knits - Shoes - Menswear






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






37. Store open another facility in a different location - often in suburbs






38. 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






39. Responsible for establishing the store's image






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






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






42. Ads; focuses on business itself






43. Focuses on the business itself






44. Typically 6 months prior to season






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






46. Buying - selling - and planning of merchandise






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






48. Current information on trends






49. 2nd largest leasing space available






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