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. Order from catalog and pick up immediately






2. Television or computer shopping






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






4. Small operation






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






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






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






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






9. 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






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






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






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






13. Responsible for establishing the store's image






14. Conduct own research






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






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






17. Italian fashion - Knits - Shoes - Menswear






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






19. Merchandising - Buying - Product Development Organizations






20. Most aware of what is selling (bias)






21. 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






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






23. Mass - staples






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






25. Selling responsibilities






26. 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






27. Sales records - Sales people






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






29. Responsible for a department/area






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






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






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






33. Typically 6 months prior to season






34. 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






35. Focus specifically on product






36. Focuses on management and market research






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






38. Chain






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






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






41. Cotton Inc. - Wool Bureau






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






43. People who shop for clients






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






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






46. 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






47. Menswear






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






49. Number of different items offered






50. Ads; focuses on business itself