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Fashion Merchandizing

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. Italian fashion - Knits - Shoes - Menswear






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






3. 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






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






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






6. Larger orders may allow for...






7. Merchandising - Buying - Product Development Organizations






8. Cotton Inc. - Wool Bureau






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






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






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






12. Focuses on the business itself






13. Ads; focuses on business itself






14. Regional center for bridal - evening wear






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






16. 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






17. Most aware of what is selling (bias)






18. Focus specifically on product






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






20. 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






21. Shoplifting - internal theft - inaccurate records






22. Buying - selling - and planning of merchandise






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






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






25. Current information on trends






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






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






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






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






30. Germany - Spain - Eastern Block






31. Where store execs are housed






32. Responsible for establishing the store's image






33. Market area - Assists specialized (central) buyer






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






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






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






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






38. People who shop for clients






39. 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






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






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






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






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






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






45. Conduct own research






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






47. Chain






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






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






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







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