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. WWD - DNR - stores (consumer fashion magazines)






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






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






4. Conduct own research






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






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






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






8. Focuses on the business itself






9. Where store execs are housed






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






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






12. Italian fashion - Knits - Shoes - Menswear






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






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






15. 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






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






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






18. People who shop for clients






19. Number of different items offered






20. Shoplifting - internal theft - inaccurate records






21. Germany - Spain - Eastern Block






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






23. 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






24. Manufacturers Attend Market to...






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






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






27. Focus specifically on product






28. Sales records - Sales people






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






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






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






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






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






34. Menswear






35. Door-to-door or house parties






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






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






38. Responsible for establishing the store's image






39. Compare what is available from the competition






40. Selling responsibilities






41. Small operation






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






43. Focuses on management and market research






44. Most aware of what is selling (bias)






45. Merchandising - Buying - Product Development Organizations






46. Mass - staples






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






48. Responsible for a department/area






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






50. Responsible for several areas