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Fashion Merchandizing

  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. Located in market

2. Merchandising offerings - Appropriate for customers

3. Responsible for a department/area

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

5. Chain

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

7. Buying - selling - and planning of merchandise

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

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

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

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

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

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

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

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

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

17. Focuses on a particular item or product

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

19. Variety of low priced merchandise

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

21. Door-to-door or house parties

22. Italian fashion - Knits - Shoes - Menswear

23. Small specialized store of a department store

24. Focuses on the business itself

25. Merchandising - Buying - Product Development Organizations

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

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

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

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

30. Sales records - Sales people

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

32. 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

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

34. Focus specifically on product

35. Quantity of different items offered

36. Number of different items offered

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

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

39. Market area - Assists specialized (central) buyer

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

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

42. Compare what is available from the competition

43. 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

44. Shoplifting - internal theft - inaccurate records

45. Menswear

46. Most aware of what is selling (bias)

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

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

49. Ads; focuses on business itself

50. Larger orders may allow for...