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. Small area within a store for designers or popular manufacturers






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






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






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






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






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






7. Selling responsibilities






8. Variety of low priced merchandise






9. Buying - selling - and planning of merchandise






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






11. Merchandising offerings - Appropriate for customers






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






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






14. Ads; focuses on business itself






15. Responsible for several areas






16. Italian fashion - Knits - Shoes - Menswear






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






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






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






20. Where store execs are housed






21. Compare what is available from the competition






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






23. 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






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






25. Small operation






26. Mass - staples






27. Germany - Spain - Eastern Block






28. Small specialized store of a department store






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






30. 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






31. Chain






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






33. Merchandising - Buying - Product Development Organizations






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






35. Money left to buy- when merchandise NEEDS to exceed merchandise available






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






37. 2nd largest leasing space available






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






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






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






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






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






43. Typically 6 months prior to season






44. Number of different items offered






45. Shoplifting - internal theft - inaccurate records






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






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






48. Order from catalog and pick up immediately






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

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