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Fashion Merchandizing

  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. Menswear

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

4. Market area - Assists specialized (central) buyer

5. Germany - Spain - Eastern Block

6. 2nd largest leasing space available

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

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

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

10. Screens the market for the store buyer (represents the buyer) - Group buying- allows for lower prices due to volume buying - Assist with private label- product development sourcing - Assist with foreign buying

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

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

13. Focuses on the business itself

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

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

16. Shoplifting - internal theft - inaccurate records

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

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

19. Focus specifically on product

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

21. Responsible for several areas

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

23. Typically 6 months prior to season

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

25. Located in market

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

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

28. Number of different items offered

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

30. Focuses on a particular item or product

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

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

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

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

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

36. Merchandising - Buying - Product Development Organizations

37. Responsible for a department/area

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

39. Television or computer shopping

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

41. Small specialized store of a department store

42. Compare what is available from the competition

43. Buying - selling - and planning of merchandise

44. 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

45. Regional center for bridal - evening wear

46. Current information on trends

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

48. Larger orders may allow for...

49. 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

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