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






2. Door-to-door or house parties






3. 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






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






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






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






7. Order from catalog and pick up immediately






8. Mass - staples






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






10. Conduct own research






11. Chain






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






13. Where store execs are housed






14. Variety of low priced merchandise






15. Cotton Inc. - Wool Bureau






16. Focuses on the business itself






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






18. People who shop for clients






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






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






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






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






24. Selling responsibilities






25. Responsible for a department/area






26. Small specialized store of a department store






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






28. Most aware of what is selling (bias)






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






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






31. Located in market






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






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






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






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






36. Regional center for bridal - evening wear






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






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






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






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






41. Store owner - Specialized store buyer - Central buyer - Resident buyer






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






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






44. Merchandising offerings - Appropriate for customers






45. Market area - Assists specialized (central) buyer






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






47. Focus specifically on product






48. Television or computer shopping






49. 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






50. Italian fashion - Knits - Shoes - Menswear