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. Quantity of different items offered






2. People who shop for clients






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






4. 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






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






6. Current information on trends






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






8. Conduct own research






9. Mass - staples






10. Regional center for bridal - evening wear






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






12. Merchandising - Buying - Product Development Organizations






13. Selling responsibilities






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






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






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






17. 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






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






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






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






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






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






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






24. Compare what is available from the competition






25. Focuses on the business itself






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






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






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






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






30. Focuses on management and market research






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






32. Focus specifically on product






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






34. Chain






35. Television or computer shopping






36. Market area - Assists specialized (central) buyer






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






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






39. Small operation






40. Responsible for several areas






41. Located in market






42. Number of different items offered






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






44. Focuses on a particular item or product






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

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46. Door-to-door or house parties






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






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






49. Menswear






50. 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