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






2. Larger orders may allow for...






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






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






5. Order from catalog and pick up immediately






6. Market area - Assists specialized (central) buyer






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






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






9. Responsible for several areas






10. Typically 6 months prior to season






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






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






13. Responsible for a department/area






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






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






16. Television or computer shopping






17. Focus specifically on product






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






19. Manufacturers Attend Market to...






20. 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






21. Compare what is available from the competition






22. Focuses on a particular item or product






23. Conduct own research






24. Located in market






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






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






27. Quantity of different items offered






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






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






30. 2nd largest leasing space available






31. 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






32. Small specialized store of a department store






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






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






36. Focuses on the business itself






37. Where store execs are housed






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






39. Focuses on management and market research






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






41. Variety of low priced merchandise






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






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

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44. Menswear






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






46. Current information on trends






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






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






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






50. Germany - Spain - Eastern Block