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. Order from catalog and pick up immediately






2. Mass - staples






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






4. Merchandising - Buying - Product Development Organizations






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






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






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






8. Focuses on a particular item or product






9. Door-to-door or house parties






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






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






12. 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






13. People who shop for clients






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






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






16. Chain






17. Small specialized store of a department store






18. 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






19. Merchandising offerings - Appropriate for customers






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






21. Typically 6 months prior to season






22. Where store execs are housed






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






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






25. Focuses on the business itself






26. 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






27. Ads; focuses on business itself






28. Germany - Spain - Eastern Block






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






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






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






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






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






34. 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






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






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






37. Buying - selling - and planning of merchandise






38. Focuses on management and market research






39. Manufacturers Attend Market to...






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






41. Selling responsibilities






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






43. Conduct own research






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






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






46. Sales records - Sales people






47. Compare what is available from the competition






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






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






50. Shoplifting - internal theft - inaccurate records