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. 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






2. Responsible for several areas






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






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






5. Focuses on management and market research






6. Order from catalog and pick up immediately






7. Buying - selling - and planning of merchandise






8. Most aware of what is selling (bias)






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






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






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






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






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






14. Conduct own research






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






16. Sales records - Sales people






17. Cotton Inc. - Wool Bureau






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






19. Small specialized store of a department store






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






21. Shoplifting - internal theft - inaccurate records






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






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






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






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






26. Quantity of different items offered






27. Door-to-door or house parties






28. Small area within a store for designers or popular manufacturers






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






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






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






32. People who shop for clients






33. Mass - staples






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






35. Manufacturers Attend Market to...






36. Larger orders may allow for...






37. Merchandising offerings - Appropriate for customers






38. Television or computer shopping






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






40. Chain






41. Compare what is available from the competition






42. 2nd largest leasing space available






43. Located in market






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






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






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






47. Focuses on a particular item or product






48. Focuses on the business itself






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






50. Selling responsibilities