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. 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






2. Most aware of what is selling (bias)






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


4. Compare what is available from the competition






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






6. 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






7. Order from catalog and pick up immediately






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






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






10. Current information on trends






11. Responsible for establishing the store's image






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






13. 2nd largest leasing space available






14. Focuses on the business itself






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






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






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






18. Manufacturers Attend Market to...






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






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






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






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






23. Chain






24. Conduct own research






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






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






27. Menswear






28. Focus specifically on product






29. Mass - staples






30. Merchandising offerings - Appropriate for customers






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






32. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)






33. Shoplifting - internal theft - inaccurate records






34. Cotton Inc. - Wool Bureau






35. Number of different items offered






36. People who shop for clients






37. Television or computer shopping






38. Focuses on a particular item or product






39. Focuses on management and market research






40. Italian fashion - Knits - Shoes - Menswear






41. Responsible for several areas






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






43. Located in market






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






45. Sales records - Sales people






46. Regional center for bridal - evening wear






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






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






49. Typically 6 months prior to season






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