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. Variety of low priced merchandise






2. Larger orders may allow for...






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






4. Italian fashion - Knits - Shoes - Menswear






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






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






7. Merchandising - Buying - Product Development Organizations






8. Shoplifting - internal theft - inaccurate records






9. 2nd largest leasing space available






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






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






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






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






14. Focus specifically on product






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






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






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






18. Focuses on the business itself






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






20. Manufacturers Attend Market to...






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






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






23. 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






24. Cotton Inc. - Wool Bureau






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






26. Responsible for a department/area






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






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






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






30. 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






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






32. Germany - Spain - Eastern Block






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






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






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






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






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






38. Where store execs are housed






39. Sales records - Sales people






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

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






42. 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






43. 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






44. Order from catalog and pick up immediately






45. Chain






46. Responsible for establishing the store's image






47. Merchandising offerings - Appropriate for customers






48. Typically 6 months prior to season






49. Responsible for several areas






50. Regional center for bridal - evening wear