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






2. People who shop for clients






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






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






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






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






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






8. 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






9. Menswear






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






11. Market area - Assists specialized (central) buyer






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






13. Where store execs are housed






14. Order from catalog and pick up immediately






15. Germany - Spain - Eastern Block






16. Focus specifically on product






17. Most aware of what is selling (bias)






18. 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






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






20. Door-to-door or house parties






21. Chain






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






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






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






25. Selling responsibilities






26. Focuses on the business itself






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






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






29. Located in market






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






31. 2nd largest leasing space available






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






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

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34. Current information on trends






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






36. Manufacturers Attend Market to...






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






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






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






40. Number of different items offered






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






42. Responsible for several areas






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






44. Compare what is available from the competition






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






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






47. 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






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






49. Regional center for bridal - evening wear






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