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. Responsible for several areas






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






3. Market area - Assists specialized (central) buyer






4. Most aware of what is selling (bias)






5. Italian fashion - Knits - Shoes - Menswear






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






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






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

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9. Conduct own research






10. Focuses on management and market research






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






12. Manufacturers Attend Market to...






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






14. Compare what is available from the competition






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






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






17. Selling responsibilities






18. Television or computer shopping






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






20. Small specialized store of a department store






21. 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






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






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






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






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






26. Merchandising - Buying - Product Development Organizations






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






28. Larger orders may allow for...






29. Ads; focuses on business itself






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






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






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






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






34. Quantity of different items offered






35. Typically 6 months prior to season






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






37. Variety of low priced merchandise






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






39. 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






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






41. Focuses on a particular item or product






42. Focuses on the business itself






43. Mass - staples






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






45. People who shop for clients






46. Current information on trends






47. Regional center for bridal - evening wear






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






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






50. Chain