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. Chain






2. Ads; focuses on business itself






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






4. Typically 6 months prior to season






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






6. Selling responsibilities






7. Small specialized store of a department store






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






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






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






11. Shoplifting - internal theft - inaccurate records






12. Buying - selling - and planning of merchandise






13. Merchandising - Buying - Product Development Organizations






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






15. Compare what is available from the competition






16. Italian fashion - Knits - Shoes - Menswear






17. Sales records - Sales people






18. Germany - Spain - Eastern Block






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






20. Focuses on the business itself






21. Manufacturers Attend Market to...






22. Menswear






23. People who shop for clients






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






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






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






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






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






29. Focuses on management and market research






30. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers






31. Responsible for several areas






32. Number of different items offered






33. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment






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






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






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






37. Merchandising offerings - Appropriate for customers






38. Located in market






39. Door-to-door or house parties






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






41. Responsible for a department/area






42. Cotton Inc. - Wool Bureau






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






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






45. Television or computer shopping






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






47. Focus specifically on product






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






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






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