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. Compare what is available from the competition






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






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






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






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






6. Italian fashion - Knits - Shoes - Menswear






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






8. Typically 6 months prior to season






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






10. Focuses on management and market research






11. 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






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






13. Merchandising - Buying - Product Development Organizations






14. 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






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






16. 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






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






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






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






20. Ads; focuses on business itself






21. Regional center for bridal - evening wear






22. Merchandising offerings - Appropriate for customers






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






24. Focuses on a particular item or product






25. People who shop for clients






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






27. 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






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






29. Current information on trends






30. Responsible for several areas






31. Manufacturers Attend Market to...






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






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






34. Number of different items offered






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






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






37. Market area - Assists specialized (central) buyer






38. Shoplifting - internal theft - inaccurate records






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






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

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






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






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






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






45. Sales records - Sales people






46. Order from catalog and pick up immediately






47. Television or computer shopping






48. Mass - staples






49. Cotton Inc. - Wool Bureau






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