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






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






3. Television or computer shopping






4. Market area - Assists specialized (central) buyer






5. Conduct own research






6. Located in market






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






8. Germany - Spain - Eastern Block






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






10. Regional center for bridal - evening wear






11. Where store execs are housed






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






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






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






15. Shoplifting - internal theft - inaccurate records






16. Focuses on management and market research






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






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






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






20. Merchandising offerings - Appropriate for customers






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






22. Selling responsibilities






23. Order from catalog and pick up immediately






24. Door-to-door or house parties






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






26. 2nd largest leasing space available






27. Most aware of what is selling (bias)






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






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






30. 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






31. Focuses on a particular item or product






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






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


34. 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






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






36. Cotton Inc. - Wool Bureau






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






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






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






40. Typically 6 months prior to season






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






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






43. People who shop for clients






44. Responsible for several areas






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






46. Quantity of different items offered






47. 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






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






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






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