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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. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Branch (Classifications; Department Store
Shortage (Dollar Merchandise Plan)
De
Catalog/Mail Order (Non-store Retai
2. Most aware of what is selling (bias)
Branch (Classifications; Department Store
Minor Fashion Industries (Global Fashion Centers)
Department Store (Characteristics)
Vendors (Sources)
3. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Management Consultants (Consulting Services)
Milan (Global Fashion Centers)
Specialty Store
GMM (Merchandising; Retail Stores)
4. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Promotio
Advertising
In-store Boutique
5. Cotton Inc. - Wool Bureau
Factors in Selecting a Resource (Buying
Independently Owed (Product Development Organizations)
Catalog/Mail Order (Non-store Retai
Trade Associations (Sources)
6. 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
Market
Using Resident Buying Offices (Sources)
Wholesale Warehouse Clubs (Specialty)
Chain Store
7. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Limitations of regional marts
Resident Buyer (Path for Buyers)
Franchise
Los Angeles
8. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Paths for Buyers
In-store Boutique
Store within a Store
Merchandise Assortment Planning
9. Door-to-door or house parties
Direct Selling (Non-store Retailing)
Tokyo (Global Fashion Centers
Factory Outlet (Specialty)
Image (Advertising)
10. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Factory Outlet (Specialty)
Merchandise/Promotional (Advertising)
Business Consultant's Services
New York (Market Centers)
11. Sourcing - Logistics related to - importing - Managing information systems
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12. Not paid for by the retailer and the retailer doesn't have control over what is said
Vendors (Sources)
Promotio
Discount Store (Specialty)
Publicity
13. Develops clothing for actors in plays - movies - and television
Personal Shopper
Trade Associations (Sources)
Costume Designe
Chain Store
14. Management consultants - Technical consultants - Import and export consultants
Wholesale Warehouse Clubs (Specialty)
Vendors (Sources)
Dollar Merchandise Plan
Broad-based Business Consulting Services
15. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
London (Global Fashion Centers)
Market Wee
Elements of Dollar Merchandize Plan
Catalog Showroom (Specialty)
16. Focuses on management and market research
Factors to be Considered in Editing (Buying)
Two basic kinds of ratail advertising
London (Global Fashion Centers)
Management Consultants (Consulting Services)
17. People who shop for clients
Tokyo (Global Fashion Centers
Personal Shopper
Direct Selling (Non-store Retailing)
Buyer (Retail Merchandising)
18. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Product Development
Elements of Dollar Merchandize Plan
Dallas
Store within a Store
19. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Merchandise/Promotional (Advertising)
Hypermarkets (Specialty
Terms to be Negotiated (Buying)
Paris (Global Fashion Centers)
20. Image Merchandise/promotional -advertising agencies bid for client accounts
Two basic kinds of ratail advertising
Independently Owed (Product Development Organizations)
Open-to-buy (Dollar Merchandise Plan)
Costume Designe
21. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Breadt
Sources of Information (Retail Merchandising)
Off-Price Store (Specialty)
Vendors (Sources)
22. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Gross Margin Percentage (Dollar Merchandise Plan)
Lower prices
Look at offerings and need out and refine their line
In-store Boutique
23. Market area - Assists specialized (central) buyer
Factory Outlet (Specialty)
Variety Store (Specialty)
Resident Buyer (Path for Buyers)
Market
24. Ads; focuses on business itself
Reporting Services (Sources)
In-store Boutique
Image (Advertising)
Milan (Global Fashion Centers)
25. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
London (Global Fashion Centers)
Two basic kinds of ratail advertising
Advertising
Buyer (Retail Merchandising)
26. Small specialized store of a department store
Los Angeles
Twig (Classifications; Department Store)
Personal Shopper
Lower prices
27. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Resident Buyer
New York (Market Centers)
Turnover (Dollar Merchandise Plan)
Two basic kinds of ratail advertising
28. 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
DMM (Merchandising; Retail Store
Some samples may never be mass produced
Sources of Merchandise (Buying)
Dollar Merchandise Plan
29. Germany - Spain - Eastern Block
Sources of Merchandise (Buying)
Minor Fashion Industries (Global Fashion Centers)
Franchise
Shopping the Stores (Sources)
30. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store within a Store
Buyer (Merchandising; Retail Stores)
Private Label
Some samples may never be mass produced
31. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Reporting Services (Sources)
Sources of Merchandise (Buying)
Franchise
Central Buyer (Path for Buyers)
32. Manufacturers Attend Market to...
Regional Marts
In-store Boutique
Minor Fashion Industries (Global Fashion Centers)
Look at offerings and need out and refine their line
33. Small area within a store for designers or popular manufacturers
Trade Publications (Sources)
Electronic Retailing (Non-store Retailing)
London (Global Fashion Centers)
In-store Boutique
34. WWD - DNR - stores (consumer fashion magazines)
Trade Publications (Sources)
Management Consultants (Consulting Services)
Flagship (Classifications; Department Store)
Turnover (Dollar Merchandise Plan)
35. Store owner - Specialized store buyer - Central buyer - Resident buyer
Broad-based Business Consulting Services
Resident Buyer (Path for Buyers)
Paths for Buyers
Dollar Merchandise Plan
36. Conduct own research
Promotio
Image (Promotion)
Limitations of regional marts
Market Research (Sources)
37. Merchandising offerings - Appropriate for customers
Sources of Information (Retail Merchandising)
Promotio
Branch (Classifications; Department Store
Factors in Selecting a Resource (Buying
38. Variety of low priced merchandise
De
Direct Selling (Non-store Retailing)
Buyer (Merchandising; Retail Stores)
Variety Store (Specialty)
39. Number of different items offered
Breadt
Tokyo (Global Fashion Centers
Management Consultants (Consulting Services)
Merchandise/Promotional (Advertising)
40. Chain
Store Owner (Path for Buyers)
Direct Selling (Non-store Retailing)
Advertising
Central Buyer (Path for Buyers)
41. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Regional Marts
New York (Market Centers)
Broad-based Business Consulting Services
Hypermarkets (Specialty
42. Order from catalog and pick up immediately
Catalog Showroom (Specialty)
Costume Designe
Turnover (Dollar Merchandise Plan)
Store Ownership Group
43. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Two basic kinds of ratail advertising
GMM (Merchandising; Retail Stores)
Dollar Merchandise Plan
Using Resident Buying Offices (Sources)
44. Merchandising - Buying - Product Development Organizations
Independently owned services
Regional Marts
Limitations of regional marts
Branch (Classifications; Department Store
45. Menswear
London (Global Fashion Centers)
Breadt
Electronic Retailing (Non-store Retailing)
Catalog/Mail Order (Non-store Retai
46. Italian fashion - Knits - Shoes - Menswear
Merchandisi
Factors to be Considered in Editing (Buying)
Milan (Global Fashion Centers)
Resident Buyer
47. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Private Label
Department Store (Characteristics)
Hypermarkets (Specialty
Franchise
48. Pay a fee for what are supposed to be wholesale prices
Department Store (Characteristics)
New York (Market Centers)
Wholesale Warehouse Clubs (Specialty)
Flagship (Classifications; Department Store)
49. 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
Costume Designe
Central Buyer (Path for Buyers)
Buyers Attend Market
Business Consultant's Services
50. Money left to buy- when merchandise NEEDS to exceed merchandise available
Store Ownership Group
OB
Paths for Buyers
Chain Store