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. Door-to-door or house parties






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






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






4. Small operation






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






6. Conduct own research






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






8. Selling responsibilities






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






10. 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






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






12. Most aware of what is selling (bias)






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






14. Order from catalog and pick up immediately






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






16. Italian fashion - Knits - Shoes - Menswear






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






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






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






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






21. Buying - selling - and planning of merchandise






22. Compare what is available from the competition






23. Variety of low priced merchandise






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






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. Shoplifting - internal theft - inaccurate records






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






28. Small specialized store of a department store






29. 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






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






31. Current information on trends






32. Regional center for bridal - evening wear






33. Manufacturers Attend Market to...






34. Chain






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


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






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






38. Menswear






39. Market area - Assists specialized (central) buyer






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






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






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






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






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






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






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






47. Responsible for a department/area






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






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






50. 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