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. Most aware of what is selling (bias)






2. Located in market






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






4. Compare what is available from the competition






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






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






7. Mass - staples






8. Current information on trends






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

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10. People who shop for clients






11. 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






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






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






14. Responsible for a department/area






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






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






17. Cotton Inc. - Wool Bureau






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






19. Buying - selling - and planning of merchandise






20. Chain






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






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






23. Ads; focuses on business itself






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






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






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






27. Order from catalog and pick up immediately






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






29. Door-to-door or house parties






30. 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






31. Merchandising - Buying - Product Development Organizations






32. Number of different items offered






33. 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






34. Market area - Assists specialized (central) buyer






35. Where store execs are housed






36. Larger orders may allow for...






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






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






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






40. 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






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






42. Small specialized store of a department store






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






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






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






46. Shoplifting - internal theft - inaccurate records






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






48. Responsible for several areas






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






50. Focuses on the business itself