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






2. Merchandising offerings - Appropriate for customers






3. Responsible for a department/area






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






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






6. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success






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






8. Responsible for several areas






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






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






11. Shoplifting - internal theft - inaccurate records






12. Menswear






13. Door-to-door or house parties






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






15. Small operation






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






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






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






19. 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






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






21. Focuses on the business itself






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






23. Conduct own research






24. Located in market






25. Compare what is available from the competition






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






27. Most aware of what is selling (bias)






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






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






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






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






32. 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






33. Selling responsibilities






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

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35. Typically 6 months prior to season






36. Regional center for bridal - evening wear






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






38. Sales records - Sales people






39. Ads; focuses on business itself






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






41. Small specialized store of a department store






42. Focuses on a particular item or product






43. Larger orders may allow for...






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






45. Market area - Assists specialized (central) buyer






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






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






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






50. 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