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






2. Number of different items offered






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

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






5. Quantity of different items offered






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






7. Television or computer shopping






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






9. Larger orders may allow for...






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






11. Menswear






12. Responsible for a department/area






13. Shoplifting - internal theft - inaccurate records






14. Focuses on management and market research






15. Focuses on a particular item or product






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






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






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






19. Germany - Spain - Eastern Block






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






21. Focus specifically on product






22. Where store execs are housed






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






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






25. 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






26. Responsible for several areas






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






28. People who shop for clients






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






30. 2nd largest leasing space available






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






32. Small operation






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






34. Most aware of what is selling (bias)






35. Ads; focuses on business itself






36. Conduct own research






37. Italian fashion - Knits - Shoes - Menswear






38. 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






39. Small specialized store of a department store






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






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






42. 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






43. Sales records - Sales people






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






45. 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






46. Market area - Assists specialized (central) buyer






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






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






49. Variety of low priced merchandise






50. Mass - staples