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. Small operation






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






3. Television or computer shopping






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






5. Selling responsibilities






6. Quantity of different items offered






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






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






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






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






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






12. Chain






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






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






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






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






17. Focus specifically on product






18. Sales records - Sales people






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






20. Manufacturers Attend Market to...






21. Focuses on management and market research






22. Merchandising offerings - Appropriate for customers






23. Located in market






24. 2nd largest leasing space available






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






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






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






28. 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






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






30. 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






31. Develops clothing for actors in plays - movies - and television






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






33. Number of different items offered






34. Responsible for establishing the store's image






35. Small specialized store of a department store






36. Responsible for a department/area






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






38. Italian fashion - Knits - Shoes - Menswear






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






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






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






42. Door-to-door or house parties






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






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






46. Most aware of what is selling (bias)






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






48. Larger orders may allow for...






49. Merchandising - Buying - Product Development Organizations






50. Focuses on the business itself