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. Small area within a store for designers or popular manufacturers






2. Responsible for a department/area






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






4. Television or computer shopping






5. Merchandising - Buying - Product Development Organizations






6. Focuses on the business itself






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






8. Current information on trends






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






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






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






12. Merchandising offerings - Appropriate for customers






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






14. Selling responsibilities






15. Located in market






16. 2nd largest leasing space available






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






18. Menswear






19. Where store execs are housed






20. Most aware of what is selling (bias)






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






22. Italian fashion - Knits - Shoes - Menswear






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






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






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






27. Mass - staples






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






29. Door-to-door or house parties






30. Small specialized store of a department store






31. People who shop for clients






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






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






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






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






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






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






38. Focuses on a particular item or product






39. Focus specifically on product






40. Market area - Assists specialized (central) buyer






41. Focuses on management and market research






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






43. Variety of low priced merchandise






44. 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






45. Compare what is available from the competition






46. 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






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






48. Typically 6 months prior to season






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






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