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






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






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






4. Small specialized store of a department store






5. Merchandising offerings - Appropriate for customers






6. Responsible for several areas






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






8. Focuses on the business itself






9. Larger orders may allow for...






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






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






12. Number of different items offered






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






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






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






16. Chain






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






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






19. Buying - selling - and planning of merchandise






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






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






22. Quantity of different items offered






23. Ads; focuses on business itself






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

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25. Responsible for a department/area






26. Merchandising - Buying - Product Development Organizations






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






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






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






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






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






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






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






34. Variety of low priced merchandise






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






36. Small operation






37. Sales records - Sales people






38. Focuses on management and market research






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






40. Italian fashion - Knits - Shoes - Menswear






41. People who shop for clients






42. 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






43. Focus specifically on product






44. Compare what is available from the competition






45. 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






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






47. Current information on trends






48. Where store execs are housed






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






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