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






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






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






4. Shoplifting - internal theft - inaccurate records






5. 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






6. Small operation






7. Cotton Inc. - Wool Bureau






8. Quantity of different items offered






9. 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






10. Regional center for bridal - evening wear






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






12. Typically 6 months prior to season






13. Number of different items offered






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






15. Responsible for a department/area






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






17. Merchandising - Buying - Product Development Organizations






18. Focus specifically on product






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






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






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






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


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






24. People who shop for clients






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






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






27. Door-to-door or house parties






28. Most aware of what is selling (bias)






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






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






31. Conduct own research






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






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






34. Buying - selling - and planning of merchandise






35. Chain






36. Focuses on the business itself






37. Located in market






38. Market area - Assists specialized (central) buyer






39. Italian fashion - Knits - Shoes - Menswear






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






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






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






43. Merchandising offerings - Appropriate for customers






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






45. Larger orders may allow for...






46. Small specialized store of a department store






47. 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






48. Mass - staples






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






50. Selling responsibilities