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. WWD - DNR - stores (consumer fashion magazines)






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






3. Small specialized store of a department store






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






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






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






7. Focuses on management and market research






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






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






10. Responsible for several areas






11. Selling responsibilities






12. Sales records - Sales people






13. Small operation






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






15. Most aware of what is selling (bias)






16. Buying - selling - and planning of merchandise






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

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18. Manufacturers Attend Market to...






19. Compare what is available from the competition






20. Chain






21. 2nd largest leasing space available






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






23. Germany - Spain - Eastern Block






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






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






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






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






28. Responsible for a department/area






29. Italian fashion - Knits - Shoes - Menswear






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






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






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






33. Responsible for establishing the store's image






34. Quantity of different items offered






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






36. Focuses on a particular item or product






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






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






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






40. Television or computer shopping






41. Order from catalog and pick up immediately






42. Variety of low priced merchandise






43. 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






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






45. Located in market






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






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






48. People who shop for clients






49. 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






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