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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. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
In-store Success (Sources
DMM (Merchandising; Retail Store
Catalog Showroom (Specialty)
Specialty Store
2. Responsible for several areas
Shortage (Dollar Merchandise Plan)
Specialty Store
Specialized Store Buyer (Path for Buyers)
DMM (Merchandising; Retail Store
3. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Off-Price Store (Specialty)
Market Wee
Publicity
Market
4. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Lower prices
Discount Store (Specialty)
Store Owned Organizations (Product Development Organizations
London (Global Fashion Centers)
5. Focuses on the business itself
Business Consultant's Services
Shopping the Stores (Sources)
Image (Promotion)
Resident Buyer (Path for Buyers)
6. Menswear
London (Global Fashion Centers)
Minor Fashion Industries (Global Fashion Centers)
Buyers Attend Market
Shopping the Stores (Sources)
7. Focus specifically on product
Using Resident Buying Offices (Sources)
London (Global Fashion Centers)
Merchandise/Promotional (Advertising)
Elements of Dollar Merchandize Plan
8. Compare what is available from the competition
Shopping the Stores (Sources)
Paths for Buyers
Terms to be Negotiated (Buying)
Store Ownership Group
9. Quantity of different items offered
Image (Advertising)
Terms to be Negotiated (Buying)
De
Regional Marts
10. Small area within a store for designers or popular manufacturers
In-store Boutique
GMM (Merchandising; Retail Stores)
Milan (Global Fashion Centers)
Store Owned Organizations (Product Development Organizations
11. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Store Owned Organizations (Product Development Organizations
Publicity
Resident Buyer (Path for Buyers)
Turnover (Dollar Merchandise Plan)
12. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Elements of Dollar Merchandize Plan
Shortage (Dollar Merchandise Plan)
Independently Owed (Product Development Organizations)
Chain Store
13. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Catalog/Mail Order (Non-store Retai
Paths for Buyers
Chain Store
Specialized Store Buyer (Path for Buyers)
14. Store owner - Specialized store buyer - Central buyer - Resident buyer
Turnover (Dollar Merchandise Plan)
Paths for Buyers
Open-to-buy (Dollar Merchandise Plan)
Limitations of regional marts
15. Number of different items offered
Franchise
Product Development
Factors to be Considered in Editing (Buying)
Breadt
16. Typically 6 months prior to season
Market Research (Sources)
Shopping the Stores (Sources)
DMM (Merchandising; Retail Store
Market Wee
17. Management consultants - Technical consultants - Import and export consultants
Image (Promotion)
Promotio
Broad-based Business Consulting Services
OB
18. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Merchandise Assortment Planning
Dollar Merchandise Plan
Off-Price Store (Specialty)
Stylist
19. Specialize in brand and designer name clothing at discounted prices
Flagship (Classifications; Department Store)
Off-Price Store (Specialty)
Branch (Classifications; Department Store
Merchandisi
20. Current information on trends
Reporting Services (Sources)
Hypermarkets (Specialty
Market Research (Sources)
Business Consultant's Services
21. Responsible for establishing the store's image
GMM (Merchandising; Retail Stores)
Resident Buyer
Paths for Buyers
Twig (Classifications; Department Store)
22. Small operation
Store within a Store
Merchandisi
Dollar Merchandise Plan
Store Owner (Path for Buyers)
23. People who shop for clients
Central Buyer (Path for Buyers)
Regional Marts
Personal Shopper
Private Label
24. 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
Some samples may never be mass produced
In-store Boutique
Off-Price Store (Specialty)
Resident Buyer (Path for Buyers)
25. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Catalog Showroom (Specialty)
Some samples may never be mass produced
Business Consultant's Services
26. Variety of low priced merchandise
Independently owned services
Vendors (Sources)
Variety Store (Specialty)
OB
27. Ads; focuses on business itself
Advertising
Wholesale Warehouse Clubs (Specialty)
Minor Fashion Industries (Global Fashion Centers)
Image (Advertising)
28. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Reporting Services (Sources)
Terms to be Negotiated (Buying)
Paths for Buyers
Elements of Dollar Merchandize Plan
29. When merchandise (inventory and ordered) is GREATER than need
Overbought
Paris (Global Fashion Centers)
Merchandisi
Limitations of regional marts
30. Merchandising - Buying - Product Development Organizations
Overbought
Store Owner (Path for Buyers)
Shortage (Dollar Merchandise Plan)
Independently owned services
31. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Independently owned services
Regional Marts
Store Ownership Group
Sources of Information (Retail Merchandising)
32. Store's own label for career and casual sportswear; prices vary (better to moderate)
Private Label
New York (Market Centers)
Terms to be Negotiated (Buying)
Catalog/Mail Order (Non-store Retai
33. 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
Using Resident Buying Offices (Sources)
Market Research (Sources)
Resident Buyer
Direct Selling (Non-store Retailing)
34. Develops clothing for actors in plays - movies - and television
Sources of Information (Retail Merchandising)
Trade Publications (Sources)
Costume Designe
Dallas
35. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Store Owner (Path for Buyers)
Gross Margin Percentage (Dollar Merchandise Plan)
Factors to be Considered in Editing (Buying)
In-store Success (Sources
36. Where store execs are housed
Sources of Information (Retail Merchandising)
Merchandisi
Flagship (Classifications; Department Store)
Market
37. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Trade Associations (Sources)
Store Owned Organizations (Product Development Organizations
Off-Price Store (Specialty)
38. Small specialized store of a department store
Store Owner (Path for Buyers)
Twig (Classifications; Department Store)
Direct Selling (Non-store Retailing)
Resident Buyer (Path for Buyers)
39. Market area - Assists specialized (central) buyer
Resident Buyer (Path for Buyers)
Franchise
Market Research (Sources)
Elements of Dollar Merchandize Plan
40. Image Merchandise/promotional -advertising agencies bid for client accounts
Two basic kinds of ratail advertising
Market Research (Sources)
Private Label
Open-to-buy (Dollar Merchandise Plan)
41. Pay a fee for what are supposed to be wholesale prices
Resident Buyer
Wholesale Warehouse Clubs (Specialty)
Limitations of regional marts
Image (Promotion)
42. Sales records - Sales people
Market Research (Sources)
In-store Success (Sources
Using Resident Buying Offices (Sources)
Costume Designe
43. 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
Product Development
Buyers Attend Market
Lower prices
Discount Store (Specialty)
44. 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
Gross Margin Percentage (Dollar Merchandise Plan)
Off-Price Store (Specialty)
Regional Marts
Costume Designe
45. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Open-to-buy (Dollar Merchandise Plan)
Management Consultants (Consulting Services)
Paris (Global Fashion Centers)
Chain Store
46. Focuses on management and market research
Management Consultants (Consulting Services)
New York (Market Centers)
Paths for Buyers
Vendors (Sources)
47. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Promotio
Breadt
Store within a Store
Merchandise Assortment Planning
48. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Catalog Showroom (Specialty)
Store within a Store
Terms to be Negotiated (Buying)
Product Development
49. Conduct own research
Merchandisi
Milan (Global Fashion Centers)
Electronic Retailing (Non-store Retailing)
Market Research (Sources)
50. WWD - DNR - stores (consumer fashion magazines)
Catalog Showroom (Specialty)
Milan (Global Fashion Centers)
Trade Publications (Sources)
Store Owned Organizations (Product Development Organizations