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






2. Where store execs are housed






3. Larger orders may allow for...






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






5. Responsible for a department/area






6. Buying - selling - and planning of merchandise






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






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






9. Italian fashion - Knits - Shoes - Menswear






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






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






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






13. Typically 6 months prior to season






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






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






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






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






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






19. Focuses on the business itself






20. Merchandising offerings - Appropriate for customers






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






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






23. 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






24. Quantity of different items offered






25. Selling responsibilities






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






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

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28. Ads; focuses on business itself






29. Variety of low priced merchandise






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






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






32. Customer makes choices out of a catalog and places order by phone - mail - or at a facility






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






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






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






36. Mass - staples






37. Responsible for establishing the store's image






38. 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






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






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






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






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






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






44. Responsible for several areas






45. Number of different items offered






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






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






48. Most aware of what is selling (bias)






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






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