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. Buying - selling - and planning of merchandise






2. Sales records - Sales people






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






4. Focus specifically on product






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






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






7. 2nd largest leasing space available






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






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

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10. Compare what is available from the competition






11. Regional center for bridal - evening wear






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






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






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






15. Italian fashion - Knits - Shoes - Menswear






16. 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






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






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






19. People who shop for clients






20. Small specialized store of a department store






21. Merchandising offerings - Appropriate for customers






22. Focuses on a particular item or product






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






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






25. Focuses on management and market research






26. Responsible for establishing the store's image






27. Current information on trends






28. Mass - staples






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






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






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






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






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






34. 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






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






36. Variety of low priced merchandise






37. Manufacturers Attend Market to...






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






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






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






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






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






43. Small operation






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






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






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






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






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






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






50. Larger orders may allow for...