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






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






3. Market area - Assists specialized (central) buyer






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






5. Focuses on the business itself






6. Variety of low priced merchandise






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






8. Menswear






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






10. Small operation






11. Focus specifically on product






12. Regional center for bridal - evening wear






13. 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






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






15. Chain






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






17. 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






18. Sales records - Sales people






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






20. Door-to-door or house parties






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






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






23. Germany - Spain - Eastern Block






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






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






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






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






28. 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






29. 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






30. Current information on trends






31. Conduct own research






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






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






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






35. Small specialized store of a department store






36. People who shop for clients






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






38. 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






39. Shoplifting - internal theft - inaccurate records






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






41. Responsible for a department/area






42. Cotton Inc. - Wool Bureau






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






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






45. Buying - selling - and planning of merchandise






46. Order from catalog and pick up immediately






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






48. Number of different items offered






49. Television or computer shopping






50. Italian fashion - Knits - Shoes - Menswear