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






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






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






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






5. Responsible for a department/area






6. Sales records - Sales people






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






8. 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






9. 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






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






11. Market area - Assists specialized (central) buyer






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






13. Ads; focuses on business itself






14. Chain






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






16. Located in market






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






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






19. Number of different items offered






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






21. Italian fashion - Knits - Shoes - Menswear






22. Current information on trends






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






24. Most aware of what is selling (bias)






25. Focuses on the business itself






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






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






28. Menswear






29. Store's own label for career and casual sportswear; prices vary (better to moderate)






30. Focus specifically on product






31. Responsible for establishing the store's image






32. Focuses on management and market research






33. Cotton Inc. - Wool Bureau






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






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






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






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






38. 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






39. Order from catalog and pick up immediately






40. Where store execs are housed






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






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






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






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






45. 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






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






47. Buying - selling - and planning of merchandise






48. Germany - Spain - Eastern Block






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






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