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






3. Responsible for establishing the store's image






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






5. Small operation






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






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






8. Chain






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






10. Italian fashion - Knits - Shoes - Menswear






11. Sales records - Sales people






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






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






14. Current information on trends






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






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






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






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






19. Order from catalog and pick up immediately






20. Where store execs are housed






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






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






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






24. Responsible for several areas






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






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






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






28. Responsible for a department/area






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






30. Focuses on the business itself






31. People who shop for clients






32. 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






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






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






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






36. Menswear






37. Merchandising offerings - Appropriate for customers






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






39. Most aware of what is selling (bias)






40. 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






41. Number of different items offered






42. Variety of low priced merchandise






43. Focus specifically on product






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






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






46. Located in market






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






48. Germany - Spain - Eastern Block






49. Quantity of different items offered






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