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. Quantity of different items offered






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






3. Responsible for several areas






4. Small specialized store of a department store






5. Selling responsibilities






6. Shoplifting - internal theft - inaccurate records






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






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






9. Germany - Spain - Eastern Block






10. Focuses on a particular item or product






11. Order from catalog and pick up immediately






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






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






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






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






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






17. Responsible for establishing the store's image






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






19. Italian fashion - Knits - Shoes - Menswear






20. 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






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






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






23. Merchandising offerings - Appropriate for customers






24. Conduct own research






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






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






27. Larger orders may allow for...






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

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






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






31. Market area - Assists specialized (central) buyer






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






33. Mass - staples






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






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






36. Ads; focuses on business itself






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






38. Most aware of what is selling (bias)






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






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






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






42. Chain






43. 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






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






45. 2nd largest leasing space available






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






47. 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






48. Focuses on the business itself






49. Responsible for a department/area






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