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. Number of different items offered






2. 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






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






4. Focuses on management and market research






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






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






7. 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






8. People who shop for clients






9. 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






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






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






12. Order from catalog and pick up immediately






13. Where store execs are housed






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






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






16. Quantity of different items offered






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






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






19. Germany - Spain - Eastern Block






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






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






22. Responsible for several areas






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






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






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






26. Responsible for establishing the store's image






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






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






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






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






31. Ads; focuses on business itself






32. Mass - staples






33. Shoplifting - internal theft - inaccurate records






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






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






36. Focuses on the business itself






37. Italian fashion - Knits - Shoes - Menswear






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






39. Responsible for a department/area






40. Focus specifically on product






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






42. Compare what is available from the competition






43. Regional center for bridal - evening wear






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






45. Chain






46. Focuses on a particular item or product






47. Door-to-door or house parties






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






49. Merchandising - Buying - Product Development Organizations






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