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. Market area - Assists specialized (central) buyer






2. Buying - selling - and planning of merchandise






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






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






5. Television or computer shopping






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






7. Current information on trends






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






9. Where store execs are housed






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






11. People who shop for clients






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






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






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






15. Sales records - Sales people






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






17. Compare what is available from the competition






18. 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






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






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






21. Focuses on a particular item or product






22. 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






23. Responsible for several areas






24. Mass - staples






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






26. Typically 6 months prior to season






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






28. Focus specifically on product






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






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






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






32. Number of different items offered






33. Ads; focuses on business itself






34. Small specialized store of a department store






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






36. 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






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






38. Conduct own research






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






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






41. Regional center for bridal - evening wear






42. Most aware of what is selling (bias)






43. Manufacturers Attend Market to...






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






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






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






47. Variety of low priced merchandise






48. Selling responsibilities






49. Small operation






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