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. Regional center for bridal - evening wear






2. Door-to-door or house parties






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






4. Focuses on a particular item or product






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






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






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






8. Focuses on management and market research






9. Where store execs are housed






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






11. 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






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






13. 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






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






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






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






18. Sales records - Sales people






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






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






21. Selling responsibilities






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






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






24. Located in market






25. Shoplifting - internal theft - inaccurate records






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






27. Most aware of what is selling (bias)






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






29. Merchandising offerings - Appropriate for customers






30. Manufacturers Attend Market to...






31. Compare what is available from the competition






32. Variety of low priced merchandise






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






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






35. Current information on trends






36. Responsible for a department/area






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






38. 2nd largest leasing space available






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






40. Chain






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

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42. Responsible for several areas






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






44. Television or computer shopping






45. Market area - Assists specialized (central) buyer






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






47. Mass - staples






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






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






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