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






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






3. Focuses on management and market research






4. 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






5. Responsible for several areas






6. Larger orders may allow for...






7. Conduct own research






8. Located in market






9. Number of different items offered






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






11. Sales records - Sales people






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






13. Responsible for a department/area






14. Typically 6 months prior to season






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






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






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






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






19. Merchandising offerings - Appropriate for customers






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






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






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






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






24. Italian fashion - Knits - Shoes - Menswear






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






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






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






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






29. Market area - Assists specialized (central) buyer






30. Where store execs are housed






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






32. Responsible for establishing the store's image






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






34. 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






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






36. Chain






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






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






39. Focuses on a particular item or product






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






41. Mass - staples






42. Order from catalog and pick up immediately






43. Menswear






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






45. 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






46. 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






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

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48. Buying - selling - and planning of merchandise






49. People who shop for clients






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