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. Small operation






2. Focuses on management and market research






3. Buying - selling - and planning of merchandise






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






5. Sales records - Sales people






6. 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






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






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






9. Responsible for a department/area






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






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






12. Door-to-door or house parties






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






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






15. Shoplifting - internal theft - inaccurate records






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






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






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






19. Most aware of what is selling (bias)






20. Focus specifically on product






21. Television or computer shopping






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






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






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






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






26. Order from catalog and pick up immediately






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






28. Mass - staples






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






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






31. Current information on trends






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






33. Cotton Inc. - Wool Bureau






34. Focuses on a particular item or product






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






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






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






38. Responsible for several areas






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






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






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






42. Compare what is available from the competition






43. Selling responsibilities






44. Merchandising offerings - Appropriate for customers






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






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






47. Italian fashion - Knits - Shoes - Menswear






48. Menswear






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






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