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






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






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






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






5. Variety of low priced merchandise






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






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






8. 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






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






10. Buying - selling - and planning of merchandise






11. 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






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






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






14. Menswear






15. Ads; focuses on business itself






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






17. Quantity of different items offered






18. Focuses on management and market research






19. 2nd largest leasing space available






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






21. Focus specifically on product






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






23. Current information on trends






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






25. Typically 6 months prior to season






26. 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






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






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






29. Most aware of what is selling (bias)






30. Germany - Spain - Eastern Block






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

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32. 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






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






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






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






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






37. Focuses on a particular item or product






38. Merchandising offerings - Appropriate for customers






39. Conduct own research






40. Selling responsibilities






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






42. Larger orders may allow for...






43. Small operation






44. 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






45. Sales records - Sales people






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






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






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






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






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