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. Where store execs are housed






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






3. Buying - selling - and planning of merchandise






4. Italian fashion - Knits - Shoes - Menswear






5. Focuses on a particular item or product






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






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






8. Focuses on management and market research






9. Typically 6 months prior to season






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






11. Small specialized store of a department store






12. Quantity of different items offered






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






14. Television or computer shopping






15. 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






16. Shoplifting - internal theft - inaccurate records






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






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






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






20. Focuses on the business itself






21. Selling responsibilities






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






23. Order from catalog and pick up immediately






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






25. Germany - Spain - Eastern Block






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






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






28. Conduct own research






29. Merchandising - Buying - Product Development Organizations






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






31. Located in market






32. Most aware of what is selling (bias)






33. Current information on trends






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






35. Responsible for a department/area






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






37. Larger orders may allow for...






38. Develops clothing for actors in plays - movies - and television






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

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40. Menswear






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






42. Sales records - Sales people






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






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






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






46. Market area - Assists specialized (central) buyer






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






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






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






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