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. Located in market






2. Merchandising offerings - Appropriate for customers






3. Responsible for a department/area






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






5. Chain






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






7. Buying - selling - and planning of merchandise






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






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






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






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






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






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






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






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






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






17. Focuses on a particular item or product






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






19. Variety of low priced merchandise






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






21. Door-to-door or house parties






22. Italian fashion - Knits - Shoes - Menswear






23. Small specialized store of a department store






24. Focuses on the business itself






25. Merchandising - Buying - Product Development Organizations






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






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






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






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






30. Sales records - Sales people






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






32. 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






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






34. Focus specifically on product






35. Quantity of different items offered






36. Number of different items offered






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






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






39. Market area - Assists specialized (central) buyer






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






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






42. Compare what is available from the competition






43. 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






44. Shoplifting - internal theft - inaccurate records






45. Menswear






46. Most aware of what is selling (bias)






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






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






49. Ads; focuses on business itself






50. Larger orders may allow for...