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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. Merchandising - Buying - Product Development Organizations
Sources of Merchandise (Buying)
Central Buyer (Path for Buyers)
Independently owned services
Branch (Classifications; Department Store
2. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Turnover (Dollar Merchandise Plan)
Paris (Global Fashion Centers)
Merchandise/Promotional (Advertising)
Market Wee
3. Manufacturers Attend Market to...
Image (Advertising)
Direct Selling (Non-store Retailing)
Look at offerings and need out and refine their line
OB
4. Small specialized store of a department store
Flagship (Classifications; Department Store)
Milan (Global Fashion Centers)
Twig (Classifications; Department Store)
Catalog/Mail Order (Non-store Retai
5. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Independently Owed (Product Development Organizations)
Resident Buyer (Path for Buyers)
Paris (Global Fashion Centers)
6. When merchandise (inventory and ordered) is GREATER than need
Buyers Attend Market
New York (Market Centers)
Broad-based Business Consulting Services
Overbought
7. Italian fashion - Knits - Shoes - Menswear
Buyer (Merchandising; Retail Stores)
Resident Buyer (Path for Buyers)
Catalog/Mail Order (Non-store Retai
Milan (Global Fashion Centers)
8. Market area - Assists specialized (central) buyer
Specialty Store
Resident Buyer (Path for Buyers)
Some samples may never be mass produced
Department Store (Characteristics)
9. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Los Angeles
Off-Price Store (Specialty)
Chain Store
Factory Outlet (Specialty)
10. Quantity of different items offered
Stylist
Los Angeles
De
Market Research (Sources)
11. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Publicity
Store Ownership Group
Central Buyer (Path for Buyers)
Tokyo (Global Fashion Centers
12. Responsible for several areas
Stylist
Franchise
Dallas
DMM (Merchandising; Retail Store
13. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Private Label
Twig (Classifications; Department Store)
London (Global Fashion Centers)
Specialty Store
14. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Turnover (Dollar Merchandise Plan)
Dollar Merchandise Plan
Flagship (Classifications; Department Store)
Terms to be Negotiated (Buying)
15. Chain
Central Buyer (Path for Buyers)
Franchise
GMM (Merchandising; Retail Stores)
Merchandise/Promotional (Advertising)
16. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Personal Shopper
In-store Success (Sources
OB
Turnover (Dollar Merchandise Plan)
17. WWD - DNR - stores (consumer fashion magazines)
Trade Publications (Sources)
Central Buyer (Path for Buyers)
Lower prices
Reporting Services (Sources)
18. Merchandising offerings - Appropriate for customers
De
Factors in Selecting a Resource (Buying
Franchise
Department Store (Characteristics)
19. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
New York (Market Centers)
Market Wee
Limitations of regional marts
Wholesale Warehouse Clubs (Specialty)
20. Money left to buy- when merchandise NEEDS to exceed merchandise available
Independently Owed (Product Development Organizations)
Twig (Classifications; Department Store)
Image (Promotion)
OB
21. Mass - staples
Specialized Store Buyer (Path for Buyers)
Franchise
Tokyo (Global Fashion Centers
Store Owned Organizations (Product Development Organizations
22. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Dollar Merchandise Plan
Using Resident Buying Offices (Sources)
Limitations of regional marts
Chain Store
23. Order from catalog and pick up immediately
Elements of Dollar Merchandize Plan
Catalog Showroom (Specialty)
Store Owner (Path for Buyers)
Tokyo (Global Fashion Centers
24. Store's own label for career and casual sportswear; prices vary (better to moderate)
Paris (Global Fashion Centers)
Private Label
Trade Publications (Sources)
Terms to be Negotiated (Buying)
25. People who shop for clients
Market Wee
Personal Shopper
Hypermarkets (Specialty
Management Consultants (Consulting Services)
26. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandise Assortment Planning
Catalog/Mail Order (Non-store Retai
New York (Market Centers)
DMM (Merchandising; Retail Store
27. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Resident Buyer (Path for Buyers)
Stylist
Buyer (Retail Merchandising)
Breadt
28. Menswear
London (Global Fashion Centers)
Elements of Dollar Merchandize Plan
Hypermarkets (Specialty
Lower prices
29. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Chain Store
Resident Buyer (Path for Buyers)
Store within a Store
GMM (Merchandising; Retail Stores)
30. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Independently owned services
Variety Store (Specialty)
Catalog/Mail Order (Non-store Retai
Shopping the Stores (Sources)
31. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Management Consultants (Consulting Services)
Department Store (Characteristics)
Store Owner (Path for Buyers)
Terms to be Negotiated (Buying)
32. Germany - Spain - Eastern Block
Minor Fashion Industries (Global Fashion Centers)
Shortage (Dollar Merchandise Plan)
Franchise
Regional Marts
33. Cotton Inc. - Wool Bureau
Confined merchandis
Minor Fashion Industries (Global Fashion Centers)
Trade Associations (Sources)
Store Owned Organizations (Product Development Organizations
34. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Store Owned Organizations (Product Development Organizations
London (Global Fashion Centers)
GMM (Merchandising; Retail Stores)
OB
35. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Franchise
Minor Fashion Industries (Global Fashion Centers)
Vendors (Sources)
Business Consultant's Services
36. Typically 6 months prior to season
Market Wee
In-store Boutique
Reporting Services (Sources)
Store within a Store
37. Store open another facility in a different location - often in suburbs
Branch (Classifications; Department Store
Factors to be Considered in Editing (Buying)
Minor Fashion Industries (Global Fashion Centers)
Merchandise/Promotional (Advertising)
38. Sales records - Sales people
Shopping the Stores (Sources)
In-store Success (Sources
Factors to be Considered in Editing (Buying)
Open-to-buy (Dollar Merchandise Plan)
39. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Sources of Information (Retail Merchandising)
Wholesale Warehouse Clubs (Specialty)
Limitations of regional marts
Elements of Dollar Merchandize Plan
40. Pay a fee for what are supposed to be wholesale prices
Wholesale Warehouse Clubs (Specialty)
Milan (Global Fashion Centers)
OB
Lower prices
41. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Trade Publications (Sources)
New York (Market Centers)
Twig (Classifications; Department Store)
Electronic Retailing (Non-store Retailing)
42. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Some samples may never be mass produced
Los Angeles
GMM (Merchandising; Retail Stores)
Gross Margin Percentage (Dollar Merchandise Plan)
43. Compare what is available from the competition
Open-to-buy (Dollar Merchandise Plan)
Turnover (Dollar Merchandise Plan)
Private Label
Shopping the Stores (Sources)
44. Small area within a store for designers or popular manufacturers
In-store Boutique
Hypermarkets (Specialty
Los Angeles
New York (Market Centers)
45. Sourcing - Logistics related to - importing - Managing information systems
46. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
London (Global Fashion Centers)
DMM (Merchandising; Retail Store
Sources of Information (Retail Merchandising)
Specialized Store Buyer (Path for Buyers)
47. Regional center for bridal - evening wear
Dallas
Trade Associations (Sources)
Advertising
Image (Advertising)
48. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Personal Shopper
Market
Image (Promotion)
Factory Outlet (Specialty)
49. 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
Chain Store
Dallas
Merchandisi
Limitations of regional marts
50. Focuses on a particular item or product
Dallas
Milan (Global Fashion Centers)
Promotio
Market