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






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






3. 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






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






5. Store's own label for career and casual sportswear; prices vary (better to moderate)






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






7. Responsible for a department/area






8. Order from catalog and pick up immediately






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






10. Focus specifically on product






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






12. Door-to-door or house parties






13. Focuses on management and market research






14. Chain






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






16. Typically 6 months prior to season






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






18. Larger orders may allow for...






19. Responsible for several areas






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






21. Merchandising offerings - Appropriate for customers






22. 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






23. Mass - staples






24. 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






25. Current information on trends






26. Regional center for bridal - evening wear






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






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






29. Sales records - Sales people






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






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






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






33. Image Merchandise/promotional -advertising agencies bid for client accounts






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






35. Italian fashion - Knits - Shoes - Menswear






36. 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






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






38. Located in market






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






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






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






42. Conduct own research






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






44. Menswear






45. Quantity of different items offered






46. Shoplifting - internal theft - inaccurate records






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






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






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






50. Market area - Assists specialized (central) buyer