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. Larger orders may allow for...






3. Italian fashion - Knits - Shoes - Menswear






4. Focuses on a particular item or product






5. 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






6. Chain






7. Conduct own research






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






9. Mass - staples






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






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






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






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






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






15. Market area - Assists specialized (central) buyer






16. 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






17. Small specialized store of a department store






18. Number of different items offered






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






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






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






22. Quantity of different items offered






23. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline






24. Door-to-door or house parties






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






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






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






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






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






30. People who shop for clients






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






32. 2nd largest leasing space available






33. Television or computer shopping






34. Selling responsibilities






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






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






37. Shoplifting - internal theft - inaccurate records






38. Focuses on management and market research






39. 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






40. Cotton Inc. - Wool Bureau






41. Ads; focuses on business itself






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






43. Responsible for establishing the store's image






44. Compare what is available from the competition






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






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

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47. Variety of low priced merchandise






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






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






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