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. 2nd largest leasing space available






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






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






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






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






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






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






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






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






10. Responsible for establishing the store's image






11. Regional center for bridal - evening wear






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






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






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






15. Variety of low priced merchandise






16. Focuses on the business itself






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






18. People who shop for clients






19. Germany - Spain - Eastern Block






20. Larger orders may allow for...






21. Where store execs are housed






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






23. Conduct own research






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






25. 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






26. 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






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






28. Number of different items offered






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






30. Responsible for several areas






31. Responsible for a department/area






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






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






34. Menswear






35. 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






36. Market area - Assists specialized (central) buyer






37. Small operation






38. Ads; focuses on business itself






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






40. Small specialized store of a department store






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






42. 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






43. Typically 6 months prior to season






44. Television or computer shopping






45. Management consultants - Technical consultants - Import and export consultants






46. Sales records - Sales people






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






48. Most aware of what is selling (bias)






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






50. Door-to-door or house parties