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






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






3. Larger orders may allow for...






4. Ads; focuses on business itself






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






6. Most aware of what is selling (bias)






7. Variety of low priced merchandise






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






9. Cotton Inc. - Wool Bureau






10. Chain






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






12. 2nd largest leasing space available






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






14. Sales records - Sales people






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






16. Mass - staples






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






18. 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






19. Buying - selling - and planning of merchandise






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






21. 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






22. Responsible for several areas






23. Order from catalog and pick up immediately






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






25. Small specialized store of a department store






26. Focuses on the business itself






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






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






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

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






31. 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






32. Market area - Assists specialized (central) buyer






33. 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






34. Typically 6 months prior to season






35. Regional center for bridal - evening wear






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






37. Selling responsibilities






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






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






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






41. Menswear






42. WWD - DNR - stores (consumer fashion magazines)






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






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






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






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






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






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






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






50. Television or computer shopping