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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. Compare what is available from the competition






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






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






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






5. Small specialized store of a department store






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






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






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






10. Some sample will be altered - To show merchandise in best possible way to accessorize it the way they intended it to be and sometimes on models - Opportunity to develop PR






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






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






13. Quantity of different items offered






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






15. Manufacturers Attend Market to...






16. People who shop for clients






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






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






19. Located in market






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






21. Menswear






22. Merchandising offerings - Appropriate for customers






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






24. Focuses on a particular item or product






25. Larger orders may allow for...






26. Buying - selling - and planning of merchandise






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






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






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






30. Responsible for establishing the store's image






31. Number of different items offered






32. 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






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






34. 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






35. Sales records - Sales people






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






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






38. Focus specifically on product






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






40. Focuses on the business itself






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

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42. Germany - Spain - Eastern Block






43. Small operation






44. Television or computer shopping






45. Door-to-door or house parties






46. Conduct own research






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






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






49. Responsible for a department/area






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