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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. Image Merchandise/promotional -advertising agencies bid for client accounts
Advertising
Chain Store
Variety Store (Specialty)
Two basic kinds of ratail advertising
2. Buying - selling - and planning of merchandise
Merchandisi
Market Research (Sources)
Buyer (Merchandising; Retail Stores)
Business Consultant's Services
3. Store open another facility in a different location - often in suburbs
Limitations of regional marts
Branch (Classifications; Department Store
Dallas
Terms to be Negotiated (Buying)
4. When merchandise (inventory and ordered) is GREATER than need
Overbought
Shopping the Stores (Sources)
Variety Store (Specialty)
In-store Boutique
5. Not paid for by the retailer and the retailer doesn't have control over what is said
Publicity
GMM (Merchandising; Retail Stores)
In-store Boutique
Regional Marts
6. Responsible for a department/area
GMM (Merchandising; Retail Stores)
Buyers Attend Market
Buyer (Retail Merchandising)
Buyer (Merchandising; Retail Stores)
7. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Confined merchandis
OB
Product Development
Merchandise Assortment Planning
8. Germany - Spain - Eastern Block
Variety Store (Specialty)
Minor Fashion Industries (Global Fashion Centers)
Advertising
Resident Buyer
9. Chain
Wholesale Warehouse Clubs (Specialty)
Paris (Global Fashion Centers)
Some samples may never be mass produced
Central Buyer (Path for Buyers)
10. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Merchandisi
Flagship (Classifications; Department Store)
Confined merchandis
Elements of Dollar Merchandize Plan
11. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Factory Outlet (Specialty)
Resident Buyer (Path for Buyers)
Store Ownership Group
Catalog/Mail Order (Non-store Retai
12. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Department Store (Characteristics)
Trade Associations (Sources)
Tokyo (Global Fashion Centers
Paris (Global Fashion Centers)
13. Compare what is available from the competition
Shopping the Stores (Sources)
Lower prices
Buyer (Merchandising; Retail Stores)
Management Consultants (Consulting Services)
14. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Hypermarkets (Specialty
Two basic kinds of ratail advertising
Terms to be Negotiated (Buying)
Look at offerings and need out and refine their line
15. 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
Flagship (Classifications; Department Store)
Chain Store
Catalog Showroom (Specialty)
Discount Store (Specialty)
16. Store owner - Specialized store buyer - Central buyer - Resident buyer
Minor Fashion Industries (Global Fashion Centers)
Sources of Merchandise (Buying)
Broad-based Business Consulting Services
Paths for Buyers
17. WWD - DNR - stores (consumer fashion magazines)
Management Consultants (Consulting Services)
Specialty Store
Wholesale Warehouse Clubs (Specialty)
Trade Publications (Sources)
18. 2nd largest leasing space available
Resident Buyer (Path for Buyers)
Flagship (Classifications; Department Store)
Los Angeles
Catalog Showroom (Specialty)
19. 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
Dollar Merchandise Plan
Resident Buyer
De
Merchandise/Promotional (Advertising)
20. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Minor Fashion Industries (Global Fashion Centers)
Twig (Classifications; Department Store)
Store Ownership Group
Limitations of regional marts
21. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Open-to-buy (Dollar Merchandise Plan)
Market Research (Sources)
Resident Buyer
Branch (Classifications; Department Store
22. Number of different items offered
OB
Breadt
Store Owner (Path for Buyers)
Tokyo (Global Fashion Centers
23. Small area within a store for designers or popular manufacturers
In-store Boutique
Sources of Merchandise (Buying)
Merchandise Assortment Planning
Buyer (Merchandising; Retail Stores)
24. Quantity of different items offered
De
Factors in Selecting a Resource (Buying
Management Consultants (Consulting Services)
Personal Shopper
25. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Direct Selling (Non-store Retailing)
Merchandise Assortment Planning
Personal Shopper
Franchise
26. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Buyer (Merchandising; Retail Stores)
Costume Designe
London (Global Fashion Centers)
Store within a Store
27. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Dallas
Market Wee
Turnover (Dollar Merchandise Plan)
Gross Margin Percentage (Dollar Merchandise Plan)
28. 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
Image (Promotion)
Regional Marts
Stylist
Electronic Retailing (Non-store Retailing)
29. Sales records - Sales people
Independently owned services
Direct Selling (Non-store Retailing)
Promotio
In-store Success (Sources
30. 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
Business Consultant's Services
Trade Publications (Sources)
Buyers Attend Market
Shopping the Stores (Sources)
31. Specialize in brand and designer name clothing at discounted prices
Variety Store (Specialty)
Elements of Dollar Merchandize Plan
Off-Price Store (Specialty)
Specialty Store
32. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Minor Fashion Industries (Global Fashion Centers)
DMM (Merchandising; Retail Store
Factory Outlet (Specialty)
33. Focus specifically on product
Image (Promotion)
Store Owned Organizations (Product Development Organizations
Business Consultant's Services
Merchandise/Promotional (Advertising)
34. Mass - staples
Look at offerings and need out and refine their line
Dollar Merchandise Plan
Buyer (Merchandising; Retail Stores)
Tokyo (Global Fashion Centers
35. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Reporting Services (Sources)
Advertising
Los Angeles
Gross Margin Percentage (Dollar Merchandise Plan)
36. Typically 6 months prior to season
Overbought
Vendors (Sources)
Market Wee
Product Development
37. Regional center for bridal - evening wear
Factors in Selecting a Resource (Buying
Dallas
Buyer (Retail Merchandising)
Factory Outlet (Specialty)
38. Current information on trends
Reporting Services (Sources)
Store Owner (Path for Buyers)
Factors in Selecting a Resource (Buying
Trade Publications (Sources)
39. Located in market
Dollar Merchandise Plan
Using Resident Buying Offices (Sources)
Milan (Global Fashion Centers)
Specialized Store Buyer (Path for Buyers)
40. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Market
Merchandise/Promotional (Advertising)
Tokyo (Global Fashion Centers
Vendors (Sources)
41. Responsible for several areas
Promotio
Merchandise/Promotional (Advertising)
Confined merchandis
DMM (Merchandising; Retail Store
42. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
Buyer (Merchandising; Retail Stores)
In-store Boutique
Sources of Merchandise (Buying)
43. Store's own label for career and casual sportswear; prices vary (better to moderate)
Turnover (Dollar Merchandise Plan)
Confined merchandis
Private Label
Tokyo (Global Fashion Centers
44. Larger orders may allow for...
Hypermarkets (Specialty
Image (Advertising)
Lower prices
Elements of Dollar Merchandize Plan
45. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Broad-based Business Consulting Services
Independently Owed (Product Development Organizations)
Trade Associations (Sources)
Stylist
46. Variety of low priced merchandise
Costume Designe
Resident Buyer (Path for Buyers)
Variety Store (Specialty)
Open-to-buy (Dollar Merchandise Plan)
47. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Discount Store (Specialty)
Some samples may never be mass produced
Stylist
Hypermarkets (Specialty
48. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Business Consultant's Services
Resident Buyer
Hypermarkets (Specialty
49. Where store execs are housed
Merchandise/Promotional (Advertising)
Sources of Merchandise (Buying)
Flagship (Classifications; Department Store)
Overbought
50. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Hypermarkets (Specialty
Wholesale Warehouse Clubs (Specialty)
Stylist
Confined merchandis