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






2. Typically 6 months prior to season






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






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






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






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






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






8. People who shop for clients






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






10. Quantity of different items offered






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






12. Regional center for bridal - evening wear






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






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






15. Merchandising - Buying - Product Development Organizations






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






17. Compare what is available from the competition






18. Number of different items offered






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






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






21. Focuses on the business itself






22. 2nd largest leasing space available






23. Where store execs are housed






24. Television or computer shopping






25. Conduct own research






26. Ads; focuses on business itself






27. Small specialized store of a department store






28. Most aware of what is selling (bias)






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






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






31. Manufacturers Attend Market to...






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






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






34. Order from catalog and pick up immediately






35. Focuses on a particular item or product






36. Small operation






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






38. Shoplifting - internal theft - inaccurate records






39. Current information on trends






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






41. Responsible for a department/area






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

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43. Door-to-door or house parties






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






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






46. Sales records - Sales people






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






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






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






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