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Fashion Merchandizing

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services






2. Menswear






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






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






5. 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






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






7. Market area - Assists specialized (central) buyer






8. Small operation






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






10. Responsible for several areas






11. Italian fashion - Knits - Shoes - Menswear






12. Number of different items offered






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

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






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






16. Manufacturers Attend Market to...






17. Where store execs are housed






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






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






20. Ads; focuses on business itself






21. Conduct own research






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






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






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






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






26. Regional center for bridal - evening wear






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






28. Merchandising - Buying - Product Development Organizations






29. Focuses on the business itself






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






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






32. 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






33. Variety of low priced merchandise






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






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






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






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






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






39. 2nd largest leasing space available






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






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






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






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






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






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






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






47. Order from catalog and pick up immediately






48. Compare what is available from the competition






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






50. Focuses on a particular item or product







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