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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. When merchandise (inventory and ordered) is GREATER than need
Wholesale Warehouse Clubs (Specialty)
Overbought
Store Owned Organizations (Product Development Organizations
Advertising
2. Regional center for bridal - evening wear
Merchandise/Promotional (Advertising)
Advertising
Dallas
Milan (Global Fashion Centers)
3. Money left to buy- when merchandise NEEDS to exceed merchandise available
Breadt
Factory Outlet (Specialty)
Sources of Merchandise (Buying)
OB
4. Store's own label for career and casual sportswear; prices vary (better to moderate)
Two basic kinds of ratail advertising
Private Label
Factory Outlet (Specialty)
Catalog Showroom (Specialty)
5. People who shop for clients
Independently Owed (Product Development Organizations)
London (Global Fashion Centers)
Personal Shopper
Buyers Attend Market
6. 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
Resident Buyer
Buyer (Retail Merchandising)
Image (Promotion)
In-store Success (Sources
7. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
GMM (Merchandising; Retail Stores)
Confined merchandis
Sources of Merchandise (Buying)
Hypermarkets (Specialty
8. Ads; focuses on business itself
Image (Advertising)
Publicity
Factors to be Considered in Editing (Buying)
Two basic kinds of ratail advertising
9. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandise/Promotional (Advertising)
Specialty Store
Merchandise Assortment Planning
Factors to be Considered in Editing (Buying)
10. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Independently Owed (Product Development Organizations)
DMM (Merchandising; Retail Store
Sources of Merchandise (Buying)
Factors to be Considered in Editing (Buying)
11. Conduct own research
Market Research (Sources)
Overbought
Buyer (Retail Merchandising)
Specialty Store
12. Not paid for by the retailer and the retailer doesn't have control over what is said
Product Development
Buyer (Retail Merchandising)
Factory Outlet (Specialty)
Publicity
13. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
GMM (Merchandising; Retail Stores)
Sources of Merchandise (Buying)
Off-Price Store (Specialty)
Store Owned Organizations (Product Development Organizations
14. Where store execs are housed
Lower prices
Hypermarkets (Specialty
Flagship (Classifications; Department Store)
Turnover (Dollar Merchandise Plan)
15. Television or computer shopping
Catalog/Mail Order (Non-store Retai
Electronic Retailing (Non-store Retailing)
Factory Outlet (Specialty)
Department Store (Characteristics)
16. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Market
Department Store (Characteristics)
Flagship (Classifications; Department Store)
Limitations of regional marts
17. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Elements of Dollar Merchandize Plan
Catalog/Mail Order (Non-store Retai
Shortage (Dollar Merchandise Plan)
Variety Store (Specialty)
18. Merchandising - Buying - Product Development Organizations
Independently owned services
In-store Boutique
Trade Associations (Sources)
Flagship (Classifications; Department Store)
19. Order from catalog and pick up immediately
Image (Promotion)
Minor Fashion Industries (Global Fashion Centers)
Catalog Showroom (Specialty)
Off-Price Store (Specialty)
20. Small operation
Store Owner (Path for Buyers)
Resident Buyer (Path for Buyers)
Limitations of regional marts
Franchise
21. Small area within a store for designers or popular manufacturers
Variety Store (Specialty)
Market Wee
New York (Market Centers)
In-store Boutique
22. 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
In-store Success (Sources
Broad-based Business Consulting Services
Resident Buyer
23. Manufacturers Attend Market to...
Discount Store (Specialty)
Paths for Buyers
Look at offerings and need out and refine their line
Flagship (Classifications; Department Store)
24. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Catalog/Mail Order (Non-store Retai
Promotio
Dallas
Vendors (Sources)
25. Located in market
Using Resident Buying Offices (Sources)
Broad-based Business Consulting Services
Catalog Showroom (Specialty)
Lower prices
26. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Factory Outlet (Specialty)
Catalog Showroom (Specialty)
Factors to be Considered in Editing (Buying)
Los Angeles
27. Image Merchandise/promotional -advertising agencies bid for client accounts
Publicity
Franchise
Two basic kinds of ratail advertising
New York (Market Centers)
28. Management consultants - Technical consultants - Import and export consultants
Product Development
Elements of Dollar Merchandize Plan
Broad-based Business Consulting Services
Branch (Classifications; Department Store
29. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Resident Buyer (Path for Buyers)
Costume Designe
Lower prices
30. 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
Paths for Buyers
Los Angeles
Store Owned Organizations (Product Development Organizations
Regional Marts
31. Mass - staples
Specialized Store Buyer (Path for Buyers)
Tokyo (Global Fashion Centers
Independently Owed (Product Development Organizations)
Store within a Store
32. Most aware of what is selling (bias)
Hypermarkets (Specialty
Vendors (Sources)
Los Angeles
Lower prices
33. Variety of low priced merchandise
Specialized Store Buyer (Path for Buyers)
Advertising
Variety Store (Specialty)
Buyers Attend Market
34. Store open another facility in a different location - often in suburbs
Branch (Classifications; Department Store
In-store Success (Sources
Some samples may never be mass produced
Costume Designe
35. Market area - Assists specialized (central) buyer
Gross Margin Percentage (Dollar Merchandise Plan)
Trade Associations (Sources)
Dollar Merchandise Plan
Resident Buyer (Path for Buyers)
36. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Overbought
Paris (Global Fashion Centers)
Department Store (Characteristics)
Independently Owed (Product Development Organizations)
37. Sales records - Sales people
GMM (Merchandising; Retail Stores)
In-store Success (Sources
London (Global Fashion Centers)
Franchise
38. Merchandising offerings - Appropriate for customers
Hypermarkets (Specialty
Image (Advertising)
Market Research (Sources)
Factors in Selecting a Resource (Buying
39. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Milan (Global Fashion Centers)
Personal Shopper
Factory Outlet (Specialty)
Buyer (Retail Merchandising)
40. 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
Stylist
Resident Buyer (Path for Buyers)
Turnover (Dollar Merchandise Plan)
Buyers Attend Market
41. Focuses on a particular item or product
Minor Fashion Industries (Global Fashion Centers)
Business Consultant's Services
Promotio
Store Owned Organizations (Product Development Organizations
42. 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
Tokyo (Global Fashion Centers
Some samples may never be mass produced
Specialty Store
Direct Selling (Non-store Retailing)
43. Current information on trends
De
Catalog/Mail Order (Non-store Retai
Breadt
Reporting Services (Sources)
44. Typically 6 months prior to season
Market Research (Sources)
Central Buyer (Path for Buyers)
Market Wee
Stylist
45. Small specialized store of a department store
Twig (Classifications; Department Store)
Direct Selling (Non-store Retailing)
Los Angeles
De
46. Selling responsibilities
Central Buyer (Path for Buyers)
Sources of Information (Retail Merchandising)
Buyers Attend Market
Specialized Store Buyer (Path for Buyers)
47. Cotton Inc. - Wool Bureau
Broad-based Business Consulting Services
Personal Shopper
Turnover (Dollar Merchandise Plan)
Trade Associations (Sources)
48. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Store Owned Organizations (Product Development Organizations
Electronic Retailing (Non-store Retailing)
Gross Margin Percentage (Dollar Merchandise Plan)
Elements of Dollar Merchandize Plan
49. Sourcing - Logistics related to - importing - Managing information systems
50. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Resident Buyer
Market
Open-to-buy (Dollar Merchandise Plan)
Look at offerings and need out and refine their line