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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. Ads; focuses on business itself
Market Research (Sources)
Image (Advertising)
Terms to be Negotiated (Buying)
Limitations of regional marts
2. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Regional Marts
De
Broad-based Business Consulting Services
Limitations of regional marts
3. Mass - staples
Specialized Store Buyer (Path for Buyers)
Tokyo (Global Fashion Centers
Shortage (Dollar Merchandise Plan)
Two basic kinds of ratail advertising
4. Menswear
Shortage (Dollar Merchandise Plan)
Business Consultant's Services
Lower prices
London (Global Fashion Centers)
5. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Sources of Merchandise (Buying)
Tokyo (Global Fashion Centers
Management Consultants (Consulting Services)
Personal Shopper
6. Germany - Spain - Eastern Block
Wholesale Warehouse Clubs (Specialty)
Off-Price Store (Specialty)
Publicity
Minor Fashion Industries (Global Fashion Centers)
7. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Branch (Classifications; Department Store
Store Ownership Group
Open-to-buy (Dollar Merchandise Plan)
Private Label
8. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Direct Selling (Non-store Retailing)
Los Angeles
Store Owner (Path for Buyers)
9. 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
Private Label
Independently Owed (Product Development Organizations)
Buyers Attend Market
Off-Price Store (Specialty)
10. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Product Development
Turnover (Dollar Merchandise Plan)
Gross Margin Percentage (Dollar Merchandise Plan)
Market Research (Sources)
11. Selling responsibilities
Sources of Merchandise (Buying)
Specialized Store Buyer (Path for Buyers)
Gross Margin Percentage (Dollar Merchandise Plan)
Merchandise Assortment Planning
12. Where store execs are housed
Flagship (Classifications; Department Store)
Specialty Store
Market
Vendors (Sources)
13. Typically 6 months prior to season
Terms to be Negotiated (Buying)
Merchandise/Promotional (Advertising)
Market Wee
Specialty Store
14. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Image (Advertising)
Store Ownership Group
Image (Promotion)
Elements of Dollar Merchandize Plan
15. When merchandise (inventory and ordered) is GREATER than need
Overbought
Management Consultants (Consulting Services)
Regional Marts
Specialized Store Buyer (Path for Buyers)
16. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Trade Associations (Sources)
Advertising
Paris (Global Fashion Centers)
Management Consultants (Consulting Services)
17. Not paid for by the retailer and the retailer doesn't have control over what is said
Catalog Showroom (Specialty)
Terms to be Negotiated (Buying)
Hypermarkets (Specialty
Publicity
18. 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
Dollar Merchandise Plan
Sources of Information (Retail Merchandising)
Open-to-buy (Dollar Merchandise Plan)
Some samples may never be mass produced
19. Store owner - Specialized store buyer - Central buyer - Resident buyer
Independently owned services
OB
Two basic kinds of ratail advertising
Paths for Buyers
20. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Stylist
Image (Advertising)
Lower prices
Vendors (Sources)
21. Focuses on the business itself
Limitations of regional marts
Factors in Selecting a Resource (Buying
Image (Promotion)
Tokyo (Global Fashion Centers
22. Sourcing - Logistics related to - importing - Managing information systems
23. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Promotio
Paths for Buyers
Catalog/Mail Order (Non-store Retai
Lower prices
24. Most aware of what is selling (bias)
OB
Breadt
Vendors (Sources)
Limitations of regional marts
25. Pay a fee for what are supposed to be wholesale prices
Paris (Global Fashion Centers)
Wholesale Warehouse Clubs (Specialty)
Catalog Showroom (Specialty)
Trade Associations (Sources)
26. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
GMM (Merchandising; Retail Stores)
Discount Store (Specialty)
Confined merchandis
Product Development
27. Italian fashion - Knits - Shoes - Menswear
Flagship (Classifications; Department Store)
Milan (Global Fashion Centers)
Resident Buyer
Independently owned services
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
Publicity
Promotio
Buyer (Retail Merchandising)
Regional Marts
29. Located in market
Confined merchandis
Electronic Retailing (Non-store Retailing)
De
Using Resident Buying Offices (Sources)
30. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Regional Marts
Overbought
Factory Outlet (Specialty)
Reporting Services (Sources)
31. Larger orders may allow for...
Minor Fashion Industries (Global Fashion Centers)
Paris (Global Fashion Centers)
Costume Designe
Lower prices
32. Store's own label for career and casual sportswear; prices vary (better to moderate)
Private Label
Stylist
Merchandise/Promotional (Advertising)
Product Development
33. Small area within a store for designers or popular manufacturers
Dollar Merchandise Plan
Dallas
Direct Selling (Non-store Retailing)
In-store Boutique
34. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Terms to be Negotiated (Buying)
Off-Price Store (Specialty)
Regional Marts
Broad-based Business Consulting Services
35. Focus specifically on product
Sources of Information (Retail Merchandising)
Merchandise/Promotional (Advertising)
Factors in Selecting a Resource (Buying
Some samples may never be mass produced
36. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
Store within a Store
Turnover (Dollar Merchandise Plan)
Product Development
37. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Independently Owed (Product Development Organizations)
Product Development
Reporting Services (Sources)
Dollar Merchandise Plan
38. Compare what is available from the competition
Shopping the Stores (Sources)
Minor Fashion Industries (Global Fashion Centers)
Costume Designe
Factors to be Considered in Editing (Buying)
39. Image Merchandise/promotional -advertising agencies bid for client accounts
Vendors (Sources)
Shortage (Dollar Merchandise Plan)
Two basic kinds of ratail advertising
Specialized Store Buyer (Path for Buyers)
40. WWD - DNR - stores (consumer fashion magazines)
Trade Publications (Sources)
Catalog Showroom (Specialty)
Elements of Dollar Merchandize Plan
Terms to be Negotiated (Buying)
41. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Hypermarkets (Specialty
Elements of Dollar Merchandize Plan
Turnover (Dollar Merchandise Plan)
Store Ownership Group
42. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Hypermarkets (Specialty
Franchise
Trade Publications (Sources)
Advertising
43. Cotton Inc. - Wool Bureau
Sources of Merchandise (Buying)
Branch (Classifications; Department Store
Trade Associations (Sources)
Direct Selling (Non-store Retailing)
44. Small operation
Variety Store (Specialty)
Costume Designe
Store Owner (Path for Buyers)
Store within a Store
45. Store open another facility in a different location - often in suburbs
Store Ownership Group
Off-Price Store (Specialty)
Paris (Global Fashion Centers)
Branch (Classifications; Department Store
46. People who shop for clients
Personal Shopper
Costume Designe
Lower prices
Catalog Showroom (Specialty)
47. Responsible for several areas
DMM (Merchandising; Retail Store
Image (Advertising)
Private Label
Shopping the Stores (Sources)
48. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Open-to-buy (Dollar Merchandise Plan)
Dollar Merchandise Plan
Vendors (Sources)
Electronic Retailing (Non-store Retailing)
49. Market area - Assists specialized (central) buyer
Resident Buyer (Path for Buyers)
Private Label
In-store Boutique
Buyer (Merchandising; Retail Stores)
50. Merchandising - Buying - Product Development Organizations
Independently owned services
Factors to be Considered in Editing (Buying)
New York (Market Centers)
OB