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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. Pay a fee for what are supposed to be wholesale prices
Department Store (Characteristics)
Wholesale Warehouse Clubs (Specialty)
Merchandisi
Los Angeles
2. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Independently Owed (Product Development Organizations)
Resident Buyer (Path for Buyers)
Department Store (Characteristics)
Advertising
3. Ads; focuses on business itself
Market Research (Sources)
Image (Advertising)
Gross Margin Percentage (Dollar Merchandise Plan)
Merchandise Assortment Planning
4. Menswear
Paris (Global Fashion Centers)
London (Global Fashion Centers)
Shortage (Dollar Merchandise Plan)
GMM (Merchandising; Retail Stores)
5. Compare what is available from the competition
Shopping the Stores (Sources)
Reporting Services (Sources)
Overbought
Specialized Store Buyer (Path for Buyers)
6. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Turnover (Dollar Merchandise Plan)
Catalog/Mail Order (Non-store Retai
Market Research (Sources)
Private Label
7. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
New York (Market Centers)
Open-to-buy (Dollar Merchandise Plan)
Factory Outlet (Specialty)
Sources of Merchandise (Buying)
8. Management consultants - Technical consultants - Import and export consultants
Broad-based Business Consulting Services
Merchandise/Promotional (Advertising)
New York (Market Centers)
In-store Success (Sources
9. Sales records - Sales people
Store Owned Organizations (Product Development Organizations
Terms to be Negotiated (Buying)
In-store Success (Sources
Regional Marts
10. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Advertising
In-store Success (Sources
Terms to be Negotiated (Buying)
Broad-based Business Consulting Services
11. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Store Ownership Group
Sources of Merchandise (Buying)
Image (Advertising)
Dallas
12. Not paid for by the retailer and the retailer doesn't have control over what is said
Terms to be Negotiated (Buying)
Electronic Retailing (Non-store Retailing)
Publicity
Store Owned Organizations (Product Development Organizations
13. Mass - staples
Tokyo (Global Fashion Centers
Franchise
Minor Fashion Industries (Global Fashion Centers)
Breadt
14. WWD - DNR - stores (consumer fashion magazines)
Overbought
Trade Publications (Sources)
Factory Outlet (Specialty)
Trade Associations (Sources)
15. Conduct own research
Shortage (Dollar Merchandise Plan)
Market Research (Sources)
Franchise
Personal Shopper
16. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Paris (Global Fashion Centers)
Paths for Buyers
Buyer (Retail Merchandising)
Regional Marts
17. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Specialized Store Buyer (Path for Buyers)
Specialty Store
Buyer (Retail Merchandising)
Store within a Store
18. Number of different items offered
Store Owner (Path for Buyers)
Breadt
De
Los Angeles
19. Cotton Inc. - Wool Bureau
Catalog Showroom (Specialty)
Chain Store
Store Ownership Group
Trade Associations (Sources)
20. Responsible for establishing the store's image
Independently owned services
Store Ownership Group
GMM (Merchandising; Retail Stores)
Tokyo (Global Fashion Centers
21. People who shop for clients
Wholesale Warehouse Clubs (Specialty)
Vendors (Sources)
Merchandise Assortment Planning
Personal Shopper
22. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Using Resident Buying Offices (Sources)
De
Catalog Showroom (Specialty)
23. Regional center for bridal - evening wear
Confined merchandis
Dallas
Business Consultant's Services
Lower prices
24. Manufacturers Attend Market to...
Wholesale Warehouse Clubs (Specialty)
Look at offerings and need out and refine their line
Personal Shopper
Store within a Store
25. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Variety Store (Specialty)
Confined merchandis
Hypermarkets (Specialty
Breadt
26. Most aware of what is selling (bias)
Business Consultant's Services
Merchandise Assortment Planning
Vendors (Sources)
GMM (Merchandising; Retail Stores)
27. Sourcing - Logistics related to - importing - Managing information systems
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28. Store open another facility in a different location - often in suburbs
Market
Advertising
Branch (Classifications; Department Store
Dollar Merchandise Plan
29. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Dallas
Confined merchandis
Look at offerings and need out and refine their line
Limitations of regional marts
30. Focuses on a particular item or product
Promotio
OB
Independently Owed (Product Development Organizations)
Franchise
31. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Dollar Merchandise Plan
Publicity
Paths for Buyers
Branch (Classifications; Department Store
32. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Trade Associations (Sources)
Factory Outlet (Specialty)
Factors to be Considered in Editing (Buying)
Trade Publications (Sources)
33. Large number of resources centered in 7th Avenue area - Largest and most important domestically
New York (Market Centers)
Hypermarkets (Specialty
Paths for Buyers
Regional Marts
34. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
Los Angeles
Store within a Store
Paths for Buyers
35. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Independently Owed (Product Development Organizations)
Two basic kinds of ratail advertising
Turnover (Dollar Merchandise Plan)
Flagship (Classifications; Department Store)
36. 2nd largest leasing space available
Direct Selling (Non-store Retailing)
Los Angeles
Image (Promotion)
Regional Marts
37. 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
Look at offerings and need out and refine their line
Elements of Dollar Merchandize Plan
Store Ownership Group
Buyers Attend Market
38. Store owner - Specialized store buyer - Central buyer - Resident buyer
Reporting Services (Sources)
Resident Buyer
Paths for Buyers
Shortage (Dollar Merchandise Plan)
39. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Store within a Store
Franchise
Costume Designe
Stylist
40. Chain
Tokyo (Global Fashion Centers
Two basic kinds of ratail advertising
Central Buyer (Path for Buyers)
Department Store (Characteristics)
41. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Factors to be Considered in Editing (Buying)
Minor Fashion Industries (Global Fashion Centers)
Market
In-store Success (Sources
42. Money left to buy- when merchandise NEEDS to exceed merchandise available
Factory Outlet (Specialty)
OB
Discount Store (Specialty)
Limitations of regional marts
43. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Store within a Store
Resident Buyer (Path for Buyers)
Hypermarkets (Specialty
Department Store (Characteristics)
44. Responsible for a department/area
Buyer (Merchandising; Retail Stores)
Central Buyer (Path for Buyers)
Regional Marts
Specialty Store
45. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Image (Promotion)
Minor Fashion Industries (Global Fashion Centers)
Factors to be Considered in Editing (Buying)
Sources of Merchandise (Buying)
46. When merchandise (inventory and ordered) is GREATER than need
Market Wee
Dallas
Overbought
Dollar Merchandise Plan
47. Merchandising - Buying - Product Development Organizations
In-store Success (Sources
Turnover (Dollar Merchandise Plan)
Image (Promotion)
Independently owned services
48. Store's own label for career and casual sportswear; prices vary (better to moderate)
Store Ownership Group
Private Label
Store within a Store
Advertising
49. Develops clothing for actors in plays - movies - and television
Independently Owed (Product Development Organizations)
Costume Designe
Paris (Global Fashion Centers)
In-store Boutique
50. 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
Central Buyer (Path for Buyers)
OB
Overbought
Chain Store