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. Focuses on a particular item or product






2. Where store execs are housed






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






4. Buying - selling - and planning of merchandise






5. Most aware of what is selling (bias)






6. Small specialized store of a department store






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






8. Conduct own research






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






10. Television or computer shopping






11. Larger orders may allow for...






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






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






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






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






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






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






18. Manufacturers Attend Market to...






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






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






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






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






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






24. Focuses on the business itself






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






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






27. Selling responsibilities






28. 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






29. Regional center for bridal - evening wear






30. Merchandising - Buying - Product Development Organizations






31. Responsible for several areas






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






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






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






35. Focuses on management and market research






36. Focus specifically on product






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






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






39. Order from catalog and pick up immediately






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






41. Sales records - Sales people






42. Number of different items offered






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






44. 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






45. Quantity of different items offered






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






47. Germany - Spain - Eastern Block






48. Variety of low priced merchandise






49. Small operation






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