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






2. Focuses on management and market research






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






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






5. Market area - Assists specialized (central) buyer






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






7. Television or computer shopping






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






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






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. Responsible for several areas






12. Small operation






13. Door-to-door or house parties






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






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


16. 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






17. Manufacturers Attend Market to...






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






19. Most aware of what is selling (bias)






20. Merchandising offerings - Appropriate for customers






21. 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






22. Variety of low priced merchandise






23. Shoplifting - internal theft - inaccurate records






24. Buying - selling - and planning of merchandise






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






26. Responsible for establishing the store's image






27. Ads; focuses on business itself






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






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






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






31. 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






32. Focuses on a particular item or product






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






34. Sales records - Sales people






35. Quantity of different items offered






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






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






38. Number of different items offered






39. WWD - DNR - stores (consumer fashion magazines)






40. People who shop for clients






41. Chain






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






43. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later






44. 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






45. Where store execs are housed






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






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






48. 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






49. Current information on trends






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