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. Ads; focuses on business itself






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






3. Mass - staples






4. Menswear






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






6. Germany - Spain - Eastern Block






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






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






9. 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






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






11. Selling responsibilities






12. Where store execs are housed






13. Typically 6 months prior to season






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






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






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






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






18. 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






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






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






21. Focuses on the business itself






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


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






24. Most aware of what is selling (bias)






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






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






27. Italian fashion - Knits - Shoes - Menswear






28. 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






29. Located in market






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






31. Larger orders may allow for...






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






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






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






35. Focus specifically on product






36. Shoplifting - internal theft - inaccurate records






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






38. Compare what is available from the competition






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






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






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






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






43. Cotton Inc. - Wool Bureau






44. Small operation






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






46. People who shop for clients






47. Responsible for several areas






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






49. Market area - Assists specialized (central) buyer






50. Merchandising - Buying - Product Development Organizations