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






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






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






4. Compare what is available from the competition






5. Typically 6 months prior to season






6. Selling responsibilities






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






8. 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






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






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






11. Focus specifically on product






12. Where store execs are housed






13. Conduct own research






14. People who shop for clients






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






16. Responsible for establishing the store's image






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. Management consultants - Technical consultants - Import and export consultants






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






20. 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






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






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






23. Regional center for bridal - evening wear






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






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






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






27. Buying - selling - and planning of merchandise






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






29. Larger orders may allow for...






30. Door-to-door or house parties






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






32. Merchandising offerings - Appropriate for customers






33. Germany - Spain - Eastern Block






34. Cotton Inc. - Wool Bureau






35. Chain






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






37. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented






38. Sales records - Sales people






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

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






41. Merchandising - Buying - Product Development Organizations






42. Most aware of what is selling (bias)






43. 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






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






45. Shoplifting - internal theft - inaccurate records






46. Ads; focuses on business itself






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






48. Current information on trends






49. Small operation






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