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






2. Small specialized store of a department store






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






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






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






6. Door-to-door or house parties






7. Larger orders may allow for...






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






9. Quantity of different items offered






10. Merchandising - Buying - Product Development Organizations






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






12. 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






13. Conduct own research






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






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






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






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






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






19. Responsible for a department/area






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






21. Current information on trends






22. 2nd largest leasing space available






23. 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






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






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






26. 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






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






28. Ads; focuses on business itself






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






30. Variety of low priced merchandise






31. Menswear






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






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






34. Number of different items offered






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






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






37. Compare what is available from the competition






38. Television or computer shopping






39. Responsible for several areas






40. Where store execs are housed






41. People who shop for clients






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






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






44. 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






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






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






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






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






49. Shoplifting - internal theft - inaccurate records






50. Focus specifically on product