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






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






3. Focuses on the business itself






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






5. Cotton Inc. - Wool Bureau






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






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






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






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






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

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






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






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






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






15. Focuses on management and market research






16. Regional center for bridal - evening wear






17. Larger orders may allow for...






18. 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






19. Small specialized store of a department store






20. Focus specifically on product






21. Chain






22. Door-to-door or house parties






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






24. Responsible for a department/area






25. Most aware of what is selling (bias)






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






27. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline






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






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






30. Germany - Spain - Eastern Block






31. Responsible for establishing the store's image






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






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






34. 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






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






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






37. Shoplifting - internal theft - inaccurate records






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






39. Number of different items offered






40. Quantity of different items offered






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






42. Merchandising - Buying - Product Development Organizations






43. Manufacturers Attend Market to...






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






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






46. Conduct own research






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






48. Compare what is available from the competition






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






50. Television or computer shopping