Merchandise Management Quiz

What is merchandise management?

Merchandise management is the process by which a retailer attempts to offer the right quantity of the right merchandise in the right place at the right time and meet the company’s financial goals.

What are the types of merchandise?

The types of merchandise are staple merchandise, fashion merchandise, seasonal merchandise, and convenience merchandise.

What is staple merchandise?

Staple merchandise has continuous demand over an extended time period, a limited number of new product introductions, and is easy to forecast demand.

What is fashion merchandise?

Fashion merchandise is in demand for a shorter time period, has a faster introduction of new products, and makes older products obsolete. Signup and view all the answers

What is seasonal merchandise?

Seasonal merchandise sells well at a certain time period, often related to festivals or specific seasons. Signup and view all the answers

Match the following types of merchandise with their descriptions:

Staple merchandise = Continuous demand over extended time period Fashion merchandise = In demand for shorter time period Seasonal merchandise = Merchandise sell well at a certain time period Convenience merchandise = Merchandise that is easy to purchase and readily available Signup and view all the answers

Match the characteristics with the appropriate type of merchandise:

Limited number of new product introduction = Staple merchandise Faster introduction of new product = Fashion merchandise Merchandise sell well at a certain time period = Seasonal merchandise Easy to forecast demand = Staple merchandise Signup and view all the answers

Match the examples with the corresponding type of merchandise:

Grocery or daily needs products, milk, sugar, salt = Staple merchandise Apparels = Fashion merchandise Seasonal clothes, Cold drinks, hot coffee = Seasonal merchandise Signup and view all the answers

Match the following aspects of merchandise management with their descriptions:

Right quantity = Having enough merchandise to meet customer demand Right merchandise = Having the types of goods that customers want to buy Right place = Having the merchandise available at the location where customers want to buy it Right time = Having the merchandise available when customers want to buy it Signup and view all the answers

Match the merchandise types with their demand characteristics:

Staple merchandise = Continuous demand Fashion merchandise = Demand for shorter time period Seasonal merchandise = Demand peaks at a certain time period Convenience merchandise = Consistent demand due to easy availability and purchase Signup and view all the answers