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. Shoplifting - internal theft - inaccurate records






2. Manufacturers Attend Market to...






3. Compare what is available from the competition






4. Variety of low priced merchandise






5. Where store execs are housed






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






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






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






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

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10. Television or computer shopping






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






12. Merchandising offerings - Appropriate for customers






13. 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






14. Small specialized store of a department store






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






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






17. Selling responsibilities






18. Located in market






19. Germany - Spain - Eastern Block






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






21. Mass - staples






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






23. Larger orders may allow for...






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






25. Buying - selling - and planning of merchandise






26. Focuses on management and market research






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






28. Door-to-door or house parties






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






30. Responsible for several areas






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






32. Market area - Assists specialized (central) buyer






33. Conduct own research






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






35. Regional center for bridal - evening wear






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






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






38. 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






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






40. 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






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






42. 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






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






44. Current information on trends






45. Responsible for a department/area






46. Sales records - Sales people






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






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






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






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