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






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






3. Selling responsibilities






4. Sourcing - Logistics related to - importing - Managing information systems

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5. Order from catalog and pick up immediately






6. Focus specifically on product






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






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






9. Manufacturers Attend Market to...






10. Larger orders may allow for...






11. Shoplifting - internal theft - inaccurate records






12. Focuses on a particular item or product






13. Typically 6 months prior to season






14. 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






15. Where store execs are housed






16. Market area - Assists specialized (central) buyer






17. Focuses on management and market research






18. Most aware of what is selling (bias)






19. Responsible for several areas






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






21. People who shop for clients






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






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






24. Ads; focuses on business itself






25. Current information on trends






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






27. Italian fashion - Knits - Shoes - Menswear






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






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






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






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






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






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






34. Chain






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






36. Regional center for bridal - evening wear






37. Sales records - Sales people






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






39. Mass - staples






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






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






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






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






44. Compare what is available from the competition






45. Cotton Inc. - Wool Bureau






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






47. Located in market






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






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






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