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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. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Catalog Showroom (Specialty)
Overbought
Elements of Dollar Merchandize Plan
New York (Market Centers)
2. Conduct own research
Limitations of regional marts
Overbought
Dollar Merchandise Plan
Market Research (Sources)
3. Responsible for establishing the store's image
Private Label
Catalog/Mail Order (Non-store Retai
GMM (Merchandising; Retail Stores)
Paths for Buyers
4. People who shop for clients
Independently Owed (Product Development Organizations)
Personal Shopper
Broad-based Business Consulting Services
Flagship (Classifications; Department Store)
5. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Independently owned services
Regional Marts
Dollar Merchandise Plan
Store Ownership Group
6. Responsible for several areas
DMM (Merchandising; Retail Store
Using Resident Buying Offices (Sources)
Store Owned Organizations (Product Development Organizations
Merchandise Assortment Planning
7. Chain
Sources of Merchandise (Buying)
Central Buyer (Path for Buyers)
Resident Buyer (Path for Buyers)
Terms to be Negotiated (Buying)
8. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Dallas
Using Resident Buying Offices (Sources)
Independently Owed (Product Development Organizations)
Merchandise/Promotional (Advertising)
9. 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
Gross Margin Percentage (Dollar Merchandise Plan)
GMM (Merchandising; Retail Stores)
Turnover (Dollar Merchandise Plan)
Chain Store
10. Cotton Inc. - Wool Bureau
Merchandise/Promotional (Advertising)
Buyer (Retail Merchandising)
Trade Associations (Sources)
London (Global Fashion Centers)
11. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Buyer (Retail Merchandising)
Direct Selling (Non-store Retailing)
Vendors (Sources)
Twig (Classifications; Department Store)
12. Responsible for a department/area
Buyer (Merchandising; Retail Stores)
Private Label
Reporting Services (Sources)
Business Consultant's Services
13. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Branch (Classifications; Department Store
DMM (Merchandising; Retail Store
Hypermarkets (Specialty
Department Store (Characteristics)
14. Image Merchandise/promotional -advertising agencies bid for client accounts
GMM (Merchandising; Retail Stores)
Vendors (Sources)
Elements of Dollar Merchandize Plan
Two basic kinds of ratail advertising
15. Ads; focuses on business itself
Hypermarkets (Specialty
Image (Advertising)
Some samples may never be mass produced
Central Buyer (Path for Buyers)
16. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Store Ownership Group
Factory Outlet (Specialty)
Image (Advertising)
Turnover (Dollar Merchandise Plan)
17. Sourcing - Logistics related to - importing - Managing information systems
18. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Milan (Global Fashion Centers)
Specialty Store
Trade Associations (Sources)
Merchandisi
19. Italian fashion - Knits - Shoes - Menswear
Electronic Retailing (Non-store Retailing)
GMM (Merchandising; Retail Stores)
Product Development
Milan (Global Fashion Centers)
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)
Open-to-buy (Dollar Merchandise Plan)
Store within a Store
Catalog/Mail Order (Non-store Retai
21. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Gross Margin Percentage (Dollar Merchandise Plan)
Hypermarkets (Specialty
Branch (Classifications; Department Store
Resident Buyer
22. Most aware of what is selling (bias)
Paths for Buyers
Vendors (Sources)
Market Wee
OB
23. Typically 6 months prior to season
Market Wee
Gross Margin Percentage (Dollar Merchandise Plan)
Broad-based Business Consulting Services
Twig (Classifications; Department Store)
24. Shoplifting - internal theft - inaccurate records
Business Consultant's Services
Shortage (Dollar Merchandise Plan)
OB
Twig (Classifications; Department Store)
25. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Stylist
Trade Publications (Sources)
Management Consultants (Consulting Services)
London (Global Fashion Centers)
26. Not paid for by the retailer and the retailer doesn't have control over what is said
Terms to be Negotiated (Buying)
Publicity
Electronic Retailing (Non-store Retailing)
Business Consultant's Services
27. Selling responsibilities
Specialized Store Buyer (Path for Buyers)
Flagship (Classifications; Department Store)
Catalog/Mail Order (Non-store Retai
Merchandise Assortment Planning
28. Develops clothing for actors in plays - movies - and television
Trade Publications (Sources)
Variety Store (Specialty)
Publicity
Costume Designe
29. Manufacturers Attend Market to...
Look at offerings and need out and refine their line
Market Research (Sources)
De
Some samples may never be mass produced
30. Focus specifically on product
Dollar Merchandise Plan
Specialty Store
Merchandise/Promotional (Advertising)
Personal Shopper
31. Order from catalog and pick up immediately
Catalog Showroom (Specialty)
Hypermarkets (Specialty
Catalog/Mail Order (Non-store Retai
New York (Market Centers)
32. Number of different items offered
Breadt
Advertising
Discount Store (Specialty)
New York (Market Centers)
33. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Sources of Merchandise (Buying)
Open-to-buy (Dollar Merchandise Plan)
Broad-based Business Consulting Services
Terms to be Negotiated (Buying)
34. 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
Market Research (Sources)
Paris (Global Fashion Centers)
Reporting Services (Sources)
35. Where store execs are housed
GMM (Merchandising; Retail Stores)
Flagship (Classifications; Department Store)
Merchandise Assortment Planning
Independently Owed (Product Development Organizations)
36. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Factors to be Considered in Editing (Buying)
Dollar Merchandise Plan
Off-Price Store (Specialty)
Sources of Merchandise (Buying)
37. Larger orders may allow for...
Shopping the Stores (Sources)
Store within a Store
Vendors (Sources)
Lower prices
38. Store's own label for career and casual sportswear; prices vary (better to moderate)
Dollar Merchandise Plan
Private Label
Wholesale Warehouse Clubs (Specialty)
Costume Designe
39. Merchandising offerings - Appropriate for customers
Central Buyer (Path for Buyers)
Off-Price Store (Specialty)
Factors in Selecting a Resource (Buying
Store Owned Organizations (Product Development Organizations
40. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Hypermarkets (Specialty
Merchandise Assortment Planning
Store Owned Organizations (Product Development Organizations
Factors in Selecting a Resource (Buying
41. Variety of low priced merchandise
Factors in Selecting a Resource (Buying
Merchandisi
Variety Store (Specialty)
Shortage (Dollar Merchandise Plan)
42. Focuses on the business itself
Trade Publications (Sources)
Image (Promotion)
Shopping the Stores (Sources)
Business Consultant's Services
43. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Shortage (Dollar Merchandise Plan)
Discount Store (Specialty)
Factors to be Considered in Editing (Buying)
Catalog/Mail Order (Non-store Retai
44. Focuses on a particular item or product
Market Research (Sources)
Promotio
Limitations of regional marts
London (Global Fashion Centers)
45. Menswear
Paths for Buyers
Sources of Information (Retail Merchandising)
London (Global Fashion Centers)
Milan (Global Fashion Centers)
46. Market area - Assists specialized (central) buyer
Resident Buyer (Path for Buyers)
De
Some samples may never be mass produced
Merchandisi
47. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
DMM (Merchandising; Retail Store
Flagship (Classifications; Department Store)
Open-to-buy (Dollar Merchandise Plan)
Independently owned services
48. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Store Ownership Group
Market
Buyer (Retail Merchandising)
New York (Market Centers)
49. Quantity of different items offered
De
Sources of Information (Retail Merchandising)
Factors to be Considered in Editing (Buying)
In-store Boutique
50. Focuses on management and market research
Open-to-buy (Dollar Merchandise Plan)
Market Wee
Management Consultants (Consulting Services)
De