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. Conduct own research






2. 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






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






4. Located in market






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






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






7. Order from catalog and pick up immediately






8. Cotton Inc. - Wool Bureau






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






10. Market area - Assists specialized (central) buyer






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






12. Number of different items offered






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

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14. Selling responsibilities






15. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof






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






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






18. 2nd largest leasing space available






19. Compare what is available from the competition






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






21. Typically 6 months prior to season






22. 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






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






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






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






26. 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






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






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






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






30. Larger orders may allow for...






31. Responsible for several areas






32. Ads; focuses on business itself






33. Chain






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






35. Variety of low priced merchandise






36. Door-to-door or house parties






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






38. Television or computer shopping






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






40. Small specialized store of a department store






41. Responsible for establishing the store's image






42. People who shop for clients






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






44. 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






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






46. Mass - staples






47. Menswear






48. Current information on trends






49. Merchandising - Buying - Product Development Organizations






50. Buying - selling - and planning of merchandise