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






2. Focuses on management and market research






3. Germany - Spain - Eastern Block






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






5. Mass - staples






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






7. Responsible for several areas






8. Menswear






9. 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






10. 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






11. Italian fashion - Knits - Shoes - Menswear






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






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






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






15. Cotton Inc. - Wool Bureau






16. Television or computer shopping






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


18. Focuses on a particular item or product






19. 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






20. Compare what is available from the competition






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






22. Manufacturers Attend Market to...






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






24. Order from catalog and pick up immediately






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






26. Larger orders may allow for...






27. Responsible for establishing the store's image






28. Located in market






29. 2nd largest leasing space available






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






31. Responsible for a department/area






32. Number of different items offered






33. Ads; focuses on business itself






34. Shoplifting - internal theft - inaccurate records






35. Small operation






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






37. Store owner - Specialized store buyer - Central buyer - Resident buyer






38. Typically 6 months prior to season






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






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






41. Focuses on the business itself






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






43. Quantity of different items offered






44. Sales records - Sales people






45. Centrally located/organized with merchandising and buying in a central headquarters - Most of the separate stores look alike and carry the same merchandise - Example = Target






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






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






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






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






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