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






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






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






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






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






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






7. Responsible for several areas






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






9. Germany - Spain - Eastern Block






10. Merchandising - Buying - Product Development Organizations






11. Compare what is available from the competition






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






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






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






15. Sales records - Sales people






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






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






18. Focus specifically on product






19. Typically 6 months prior to season






20. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources






21. Variety of low priced merchandise






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






23. Most aware of what is selling (bias)






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






25. 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






26. Manufacturers Attend Market to...






27. Focuses on a particular item or product






28. Regional center for bridal - evening wear






29. Mass - staples






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






31. Door-to-door or house parties






32. Conduct own research






33. Ads; focuses on business itself






34. Larger orders may allow for...






35. Selling responsibilities






36. Focuses on management and market research






37. Responsible for a department/area






38. Shoplifting - internal theft - inaccurate records






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






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






41. 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






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






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






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






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






46. 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






47. Market area - Assists specialized (central) buyer






48. Chain






49. 2nd largest leasing space available






50. People who shop for clients







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Can you answer 50 questions in 15 minutes?


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