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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. Television or computer shopping






3. Small specialized store of a department store






4. 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






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






6. Number of different items offered






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






8. Order from catalog and pick up immediately






9. Quantity of different items offered






10. Regional center for bridal - evening wear






11. 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






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






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






14. People who shop for clients






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






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






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






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






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






20. Cotton Inc. - Wool Bureau






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






22. Ads; focuses on business itself






23. Mass - staples






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






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






26. Conduct own research






27. Market area - Assists specialized (central) buyer






28. Germany - Spain - Eastern Block






29. Menswear






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






31. Focus specifically on product






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






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






34. Chain






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






36. Responsible for several areas






37. Where store execs are housed






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

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






40. Compare what is available from the competition






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






42. Located in market






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






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






45. Focuses on management and market research






46. Focuses on the business itself






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






48. Selling responsibilities






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






50. 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







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Can you answer 50 questions in 15 minutes?


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