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






2. Merchandising offerings - Appropriate for customers






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






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






5. Germany - Spain - Eastern Block






6. Shoplifting - internal theft - inaccurate records






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






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






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






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






11. 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






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






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






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






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






16. Ads; focuses on business itself






17. People who shop for clients






18. Small specialized store of a department store






19. Door-to-door or house parties






20. Most aware of what is selling (bias)






21. Mass - staples






22. Market area - Assists specialized (central) buyer






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






24. Focuses on a particular item or product






25. 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






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






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






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






29. Quantity of different items offered






30. Variety of low priced merchandise






31. Sales records - Sales people






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






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






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






35. Menswear






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






37. Responsible for establishing the store's image






38. Typically 6 months prior to season






39. Order from catalog and pick up immediately






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






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






42. Compare what is available from the competition






43. Responsible for a department/area






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






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

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






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






48. Television or computer shopping






49. Italian fashion - Knits - Shoes - Menswear






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