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Test your basic knowledge |
Fashion Merchandizing
Start Test
Study First
Subjects
:
business-skills
,
industries
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. Quantity of different items offered
Branch (Classifications; Department Store
De
Milan (Global Fashion Centers)
Lower prices
2. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Factors to be Considered in Editing (Buying)
Paths for Buyers
Buyer (Retail Merchandising)
Vendors (Sources)
3. Compare what is available from the competition
Variety Store (Specialty)
Market Wee
Private Label
Shopping the Stores (Sources)
4. When merchandise (inventory and ordered) is GREATER than need
Advertising
Publicity
Overbought
Twig (Classifications; Department Store)
5. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Paths for Buyers
Elements of Dollar Merchandize Plan
Dallas
Off-Price Store (Specialty)
6. Specialize in brand and designer name clothing at discounted prices
Off-Price Store (Specialty)
Image (Promotion)
Los Angeles
Buyer (Merchandising; Retail Stores)
7. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Limitations of regional marts
Department Store (Characteristics)
Turnover (Dollar Merchandise Plan)
Variety Store (Specialty)
8. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
GMM (Merchandising; Retail Stores)
Electronic Retailing (Non-store Retailing)
Franchise
Off-Price Store (Specialty)
9. Responsible for establishing the store's image
Merchandisi
GMM (Merchandising; Retail Stores)
Personal Shopper
Confined merchandis
10. Responsible for several areas
Vendors (Sources)
Merchandise/Promotional (Advertising)
DMM (Merchandising; Retail Store
Discount Store (Specialty)
11. Small specialized store of a department store
Twig (Classifications; Department Store)
Gross Margin Percentage (Dollar Merchandise Plan)
Buyer (Retail Merchandising)
Using Resident Buying Offices (Sources)
12. Store's own label for career and casual sportswear; prices vary (better to moderate)
Personal Shopper
Minor Fashion Industries (Global Fashion Centers)
Lower prices
Private Label
13. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Milan (Global Fashion Centers)
Store Owned Organizations (Product Development Organizations
Variety Store (Specialty)
Market
14. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Paths for Buyers
Dallas
Store within a Store
Stylist
15. Regional center for bridal - evening wear
Product Development
Variety Store (Specialty)
Dallas
Catalog Showroom (Specialty)
16. Focuses on the business itself
Image (Promotion)
Off-Price Store (Specialty)
Flagship (Classifications; Department Store)
Merchandise/Promotional (Advertising)
17. Responsible for a department/area
Franchise
Factors to be Considered in Editing (Buying)
Buyer (Merchandising; Retail Stores)
Reporting Services (Sources)
18. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Using Resident Buying Offices (Sources)
Resident Buyer
Tokyo (Global Fashion Centers
Store Owned Organizations (Product Development Organizations
19. Management consultants - Technical consultants - Import and export consultants
Open-to-buy (Dollar Merchandise Plan)
DMM (Merchandising; Retail Store
Gross Margin Percentage (Dollar Merchandise Plan)
Broad-based Business Consulting Services
20. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Sources of Information (Retail Merchandising)
Gross Margin Percentage (Dollar Merchandise Plan)
In-store Boutique
Some samples may never be mass produced
21. Ads; focuses on business itself
Image (Advertising)
Promotio
Off-Price Store (Specialty)
Stylist
22. Shoplifting - internal theft - inaccurate records
Promotio
Shortage (Dollar Merchandise Plan)
Regional Marts
Catalog Showroom (Specialty)
23. Merchandising offerings - Appropriate for customers
Factors in Selecting a Resource (Buying
Wholesale Warehouse Clubs (Specialty)
Paris (Global Fashion Centers)
Resident Buyer
24. Typically 6 months prior to season
Sources of Merchandise (Buying)
Market
Image (Promotion)
Market Wee
25. 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
Product Development
Dollar Merchandise Plan
Personal Shopper
Resident Buyer
26. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
New York (Market Centers)
In-store Success (Sources
Confined merchandis
Store within a Store
27. Chain
Central Buyer (Path for Buyers)
Buyer (Merchandising; Retail Stores)
Buyers Attend Market
Store within a Store
28. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Factors to be Considered in Editing (Buying)
Store within a Store
Turnover (Dollar Merchandise Plan)
Paris (Global Fashion Centers)
29. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Hypermarkets (Specialty
Gross Margin Percentage (Dollar Merchandise Plan)
Catalog Showroom (Specialty)
Variety Store (Specialty)
30. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Using Resident Buying Offices (Sources)
Merchandise Assortment Planning
Chain Store
Stylist
31. Money left to buy- when merchandise NEEDS to exceed merchandise available
Specialty Store
OB
Independently owned services
Image (Advertising)
32. Italian fashion - Knits - Shoes - Menswear
Turnover (Dollar Merchandise Plan)
Publicity
Milan (Global Fashion Centers)
Stylist
33. WWD - DNR - stores (consumer fashion magazines)
Milan (Global Fashion Centers)
Limitations of regional marts
Trade Publications (Sources)
Management Consultants (Consulting Services)
34. Most aware of what is selling (bias)
Regional Marts
Vendors (Sources)
Open-to-buy (Dollar Merchandise Plan)
Market Research (Sources)
35. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Market Research (Sources)
Factory Outlet (Specialty)
Los Angeles
36. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Resident Buyer
Paris (Global Fashion Centers)
Catalog/Mail Order (Non-store Retai
Store Ownership Group
37. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Chain Store
Trade Publications (Sources)
Dollar Merchandise Plan
Some samples may never be mass produced
38. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Store Ownership Group
Elements of Dollar Merchandize Plan
De
London (Global Fashion Centers)
39. Focus specifically on product
Merchandise/Promotional (Advertising)
Elements of Dollar Merchandize Plan
Management Consultants (Consulting Services)
Specialized Store Buyer (Path for Buyers)
40. Number of different items offered
Dollar Merchandise Plan
Management Consultants (Consulting Services)
Electronic Retailing (Non-store Retailing)
Breadt
41. Located in market
Specialized Store Buyer (Path for Buyers)
Using Resident Buying Offices (Sources)
Sources of Merchandise (Buying)
Some samples may never be mass produced
42. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Independently Owed (Product Development Organizations)
Milan (Global Fashion Centers)
OB
Specialized Store Buyer (Path for Buyers)
43. Not paid for by the retailer and the retailer doesn't have control over what is said
In-store Boutique
Publicity
Tokyo (Global Fashion Centers
Sources of Merchandise (Buying)
44. Small area within a store for designers or popular manufacturers
In-store Boutique
Trade Publications (Sources)
Paris (Global Fashion Centers)
Branch (Classifications; Department Store
45. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Private Label
Limitations of regional marts
Promotio
Specialty Store
46. Mass - staples
Factory Outlet (Specialty)
Merchandise/Promotional (Advertising)
Tokyo (Global Fashion Centers
Regional Marts
47. 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
Chain Store
Business Consultant's Services
Overbought
Buyers Attend Market
48. Where store execs are housed
Sources of Merchandise (Buying)
Flagship (Classifications; Department Store)
Store Owned Organizations (Product Development Organizations
Central Buyer (Path for Buyers)
49. Current information on trends
Broad-based Business Consulting Services
Reporting Services (Sources)
Lower prices
Catalog Showroom (Specialty)
50. People who shop for clients
Personal Shopper
Catalog/Mail Order (Non-store Retai
De
Market Research (Sources)