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. Television or computer shopping






2. Selling responsibilities






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






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






5. Responsible for several areas






6. Order from catalog and pick up immediately






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






8. Larger orders may allow for...






9. 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






10. Small specialized store of a department store






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






12. Typically 6 months prior to season






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






14. Focus specifically on product






15. Quantity of different items offered






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






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






18. Focuses on a particular item or product






19. Germany - Spain - Eastern Block






20. 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






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






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






23. Variety of low priced merchandise






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






25. Small operation






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






27. Mass - staples






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






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






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






31. Regional center for bridal - evening wear






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






33. 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






34. Chain






35. Cotton Inc. - Wool Bureau






36. Responsible for a department/area






37. Italian fashion - Knits - Shoes - Menswear






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






39. Compare what is available from the competition






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






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






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






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

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






45. 2nd largest leasing space available






46. People who shop for clients






47. Number of different items offered






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






49. Ads; focuses on business itself






50. Merchandising - Buying - Product Development Organizations