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. Merchandising - Buying - Product Development Organizations






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






3. Manufacturers Attend Market to...






4. Small specialized store of a department store






5. Television or computer shopping






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






7. Italian fashion - Knits - Shoes - Menswear






8. Market area - Assists specialized (central) buyer






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






10. Quantity of different items offered






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






12. Responsible for several areas






13. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment






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






15. Chain






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






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






18. Merchandising offerings - Appropriate for customers






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






21. Mass - staples






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






23. Order from catalog and pick up immediately






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






25. People who shop for clients






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






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






28. Menswear






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






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






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






32. Germany - Spain - Eastern Block






33. Cotton Inc. - Wool Bureau






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






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






36. Typically 6 months prior to season






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






38. Sales records - Sales people






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






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






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






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






43. Compare what is available from the competition






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






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


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






47. Regional center for bridal - evening wear






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






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. Focuses on a particular item or product