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






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






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






4. Mass - staples






5. Small operation






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






7. Responsible for several areas






8. 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






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






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






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






12. Shoplifting - internal theft - inaccurate records






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






14. 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






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

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16. Focuses on management and market research






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






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






19. Merchandising offerings - Appropriate for customers






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






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






22. Cotton Inc. - Wool Bureau






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






24. People who shop for clients






25. Number of different items offered






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






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






28. Selling responsibilities






29. Typically 6 months prior to season






30. Italian fashion - Knits - Shoes - Menswear






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






32. Manufacturers Attend Market to...






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






34. Menswear






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






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






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






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






39. Television or computer shopping






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






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






42. Merchandising - Buying - Product Development Organizations






43. Larger orders may allow for...






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






45. 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






46. Small specialized store of a department store






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






48. Current information on trends






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






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