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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. Variety of low priced merchandise






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






3. Cotton Inc. - Wool Bureau






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






5. Quantity of different items offered






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






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






8. Responsible for establishing the store's image






9. Order from catalog and pick up immediately






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






11. Small specialized store of a department store






12. Focuses on the business itself






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






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






15. Manufacturers Attend Market to...






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






17. Small operation






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






19. Ads; focuses on business itself






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






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






22. 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






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






24. 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






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






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






27. Merchandising offerings - Appropriate for customers






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






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






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






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






32. Regional center for bridal - evening wear






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






34. Door-to-door or house parties






35. Buying - selling - and planning of merchandise






36. Market area - Assists specialized (central) buyer






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






38. Sales records - Sales people






39. Where store execs are housed






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






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






42. Focus specifically on product






43. Focuses on management and market research






44. Current information on trends






45. People who shop for clients






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






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






48. Responsible for a department/area






49. Focuses on a particular item or product






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







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