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






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






3. Most aware of what is selling (bias)






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






5. Buying - selling - and planning of merchandise






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






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






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






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






10. Merchandising - Buying - Product Development Organizations






11. Selling responsibilities






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. Number of different items offered






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






15. Chain






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






17. 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






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






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






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






21. Compare what is available from the competition






22. Mass - staples






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






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






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






26. Focuses on management and market research






27. Regional center for bridal - evening wear






28. Cotton Inc. - Wool Bureau






29. Manufacturers Attend Market to...






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






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






32. Responsible for establishing the store's image






33. Small specialized store of a department store






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






35. Quantity of different items offered






36. Menswear






37. Order from catalog and pick up immediately






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






39. Market area - Assists specialized (central) buyer






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






41. Door-to-door or house parties






42. Small operation






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






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






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

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46. Sales records - Sales people






47. Television or computer shopping






48. Merchandising offerings - Appropriate for customers






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






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