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






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






3. Sales records - Sales people






4. 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






5. Focuses on management and market research






6. Manufacturers Attend Market to...






7. Cotton Inc. - Wool Bureau






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






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






10. 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






11. Responsible for several areas






12. Focuses on the business itself






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






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






15. Italian fashion - Knits - Shoes - Menswear






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






17. Small specialized store of a department store






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






19. Responsible for a department/area






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






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






22. Compare what is available from the competition






23. Shoplifting - internal theft - inaccurate records






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






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






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






27. Most aware of what is selling (bias)






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






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






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






31. Order from catalog and pick up immediately






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






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






34. Located in market






35. Focuses on a particular item or product






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






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






38. Variety of low priced merchandise






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






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






41. Larger orders may allow for...






42. Responsible for establishing the store's image






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






44. Typically 6 months prior to season






45. Chain






46. Quantity of different items offered






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






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






49. People who shop for clients






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