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






2. Current information on trends






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






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






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






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






7. Germany - Spain - Eastern Block






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






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






10. Focuses on a particular item or product






11. Responsible for several areas






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






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






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






15. Conduct own research






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






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






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






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






20. Mass - staples






21. 2nd largest leasing space available






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






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






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






25. Buying - selling - and planning of merchandise






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






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






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






29. Selling responsibilities






30. Focuses on the business itself






31. Merchandising - Buying - Product Development Organizations






32. Merchandising offerings - Appropriate for customers






33. Television or computer shopping






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






35. 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






36. Ads; focuses on business itself






37. Compare what is available from the competition






38. 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






39. Door-to-door or house parties






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






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






42. 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






43. People who shop for clients






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






45. Typically 6 months prior to season






46. Cotton Inc. - Wool Bureau






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






48. Where store execs are housed






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






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