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. Typically 6 months prior to season






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






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






4. Small specialized store of a department store






5. Larger orders may allow for...






6. 2nd largest leasing space available






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






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






9. Manufacturers Attend Market to...






10. Mass - staples






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






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






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

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






15. Merchandising offerings - Appropriate for customers






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






17. Menswear






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






19. Order from catalog and pick up immediately






20. Money left to buy- when merchandise NEEDS to exceed merchandise available






21. Shoplifting - internal theft - inaccurate records






22. 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






23. Focuses on management and market research






24. Focuses on the business itself






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






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






27. Focus specifically on product






28. Responsible for establishing the store's image






29. Number of different items offered






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






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






33. Variety of low priced merchandise






34. Small operation






35. 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






36. Most aware of what is selling (bias)






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






38. 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






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






40. Where store execs are housed






41. Selling responsibilities






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






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






44. Current information on trends






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






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






47. Sales records - Sales people






48. Quantity of different items offered






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






50. Conduct own research