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. Merchandising - Buying - Product Development Organizations






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






3. Focuses on a particular item or product






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






5. Number of different items offered






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






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






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






9. Order from catalog and pick up immediately






10. Regional center for bridal - evening wear






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






12. Quantity of different items offered






13. Door-to-door or house parties






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






15. Focuses on the business itself






16. Ads; focuses on business itself






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






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






19. Most aware of what is selling (bias)






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






21. Chain






22. Selling responsibilities






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






24. Shoplifting - internal theft - inaccurate records






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






26. Located in market






27. Mass - staples






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






29. Buying - selling - and planning of merchandise






30. 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






31. 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






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






33. 2nd largest leasing space available






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






35. Where store execs are housed






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






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






38. Focus specifically on product






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






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






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






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






43. People who shop for clients






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

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45. Current information on trends






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






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






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






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






50. Market area - Assists specialized (central) buyer