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. Door-to-door or house parties






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






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






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






5. Focuses on a particular item or product






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






7. Cotton Inc. - Wool Bureau






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






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






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






11. Order from catalog and pick up immediately






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






13. Shoplifting - internal theft - inaccurate records






14. Germany - Spain - Eastern Block






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






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






17. 2nd largest leasing space available






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






19. Manufacturers Attend Market to...






20. Variety of low priced merchandise






21. Merchandising - Buying - Product Development Organizations






22. 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






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






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






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






26. Ads; focuses on business itself






27. Where store execs are housed






28. Merchandising offerings - Appropriate for customers






29. Television or computer shopping






30. Focuses on management and market research






31. Focus specifically on product






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






33. Regional center for bridal - evening wear






34. Responsible for a department/area






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






36. Small specialized store of a department store






37. Conduct own research






38. Responsible for establishing the store's image






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






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






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


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






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






44. 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






45. Most aware of what is selling (bias)






46. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)






47. Buying - selling - and planning of merchandise






48. Located in market






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






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