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






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






3. Compare what is available from the competition






4. 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






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






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






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






8. Focuses on a particular item or product






9. Market area - Assists specialized (central) buyer






10. Italian fashion - Knits - Shoes - Menswear






11. Small specialized store of a department store






12. Merchandising offerings - Appropriate for customers






13. Responsible for several areas






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






15. Cotton Inc. - Wool Bureau






16. Quantity of different items offered






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






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






19. Small operation






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






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






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






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






24. Typically 6 months prior to season






25. Most aware of what is selling (bias)






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






27. Variety of low priced merchandise






28. 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






29. Merchandising - Buying - Product Development Organizations






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






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






32. Order from catalog and pick up immediately






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






34. Number of different items offered






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






36. 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






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






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






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






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






41. Sales records - Sales people






42. Larger orders may allow for...






43. Selling responsibilities






44. Shoplifting - internal theft - inaccurate records






45. Television or computer shopping






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






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






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






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






50. Focus specifically on product