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. Compare what is available from the competition






2. Merchandising offerings - Appropriate for customers






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






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






5. Responsible for a department/area






6. Number of different items offered






7. Focuses on management and market research






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






9. Located in market






10. 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






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






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






13. Italian fashion - Knits - Shoes - Menswear






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






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






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






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






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






19. Typically 6 months prior to season






20. Market area - Assists specialized (central) buyer






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






22. Variety of low priced merchandise






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






24. Regional center for bridal - evening wear






25. Responsible for several areas






26. Focuses on a particular item or product






27. 2nd largest leasing space available






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






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






30. Larger orders may allow for...






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






32. Buying - selling - and planning of merchandise






33. Ads; focuses on business itself






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






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






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






37. Most aware of what is selling (bias)






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






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






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






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






42. Conduct own research






43. Merchandising - Buying - Product Development Organizations






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






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






46. 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






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






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






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






50. Focus specifically on product