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






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






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






4. Compare what is available from the competition






5. 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






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






7. Located in market






8. Germany - Spain - Eastern Block






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






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






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






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






13. Variety of low priced merchandise






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






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






16. People who shop for clients






17. Most aware of what is selling (bias)






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






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






20. Focus specifically on product






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






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






23. Order from catalog and pick up immediately






24. Selling responsibilities






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






26. 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






27. Ads; focuses on business itself






28. Focuses on the business itself






29. Typically 6 months prior to season






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






31. Buying - selling - and planning of merchandise






32. Cotton Inc. - Wool Bureau






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






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






35. Current information on trends






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






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






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






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






40. 2nd largest leasing space available






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






42. Merchandising - Buying - Product Development Organizations






43. Larger orders may allow for...






44. 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






45. Focuses on a particular item or product






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






47. Menswear






48. 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






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






50. Regional center for bridal - evening wear