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. Specialize in brand and designer name clothing at discounted prices






2. 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






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






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






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






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






7. Selling responsibilities






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






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






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






11. Number of different items offered






12. Italian fashion - Knits - Shoes - Menswear






13. Responsible for several areas






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






15. Current information on trends






16. Focuses on the business itself






17. Conduct own research






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






19. 2nd largest leasing space available






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






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






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






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






24. Manufacturers Attend Market to...






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






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

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27. 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






28. Focuses on a particular item or product






29. Typically 6 months prior to season






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






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






32. Cotton Inc. - Wool Bureau






33. Small operation






34. Located in market






35. Chain






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






37. Mass - staples






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






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






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






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






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






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






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






45. Small specialized store of a department store






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






47. 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






48. People who shop for clients






49. Merchandising offerings - Appropriate for customers






50. 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