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






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






3. Responsible for a department/area






4. Selling responsibilities






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






6. Focuses on management and market research






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






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






9. Conduct own research






10. Responsible for several areas






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






12. Germany - Spain - Eastern Block






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






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






15. Menswear






16. 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






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






18. Focuses on the business itself






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






20. Variety of low priced merchandise






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






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






23. Cotton Inc. - Wool Bureau






24. Small specialized store of a department store






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






26. Where store execs are housed






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






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






29. Shoplifting - internal theft - inaccurate records






30. Market area - Assists specialized (central) buyer






31. Compare what is available from the competition






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






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






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






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






36. Most aware of what is selling (bias)






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






38. Typically 6 months prior to season






39. Number of different items offered






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






41. Current information on trends






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






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






44. Italian fashion - Knits - Shoes - Menswear






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






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






47. Manufacturers Attend Market to...






48. Mass - staples






49. 2nd largest leasing space available






50. 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







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Can you answer 50 questions in 15 minutes?


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