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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. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
Merchandise Assortment Planning
Factors to be Considered in Editing (Buying)
Factory Outlet (Specialty)
2. Focus specifically on product
Sources of Merchandise (Buying)
Merchandise/Promotional (Advertising)
Store Ownership Group
Tokyo (Global Fashion Centers
3. Television or computer shopping
Los Angeles
Overbought
Branch (Classifications; Department Store
Electronic Retailing (Non-store Retailing)
4. Buying - selling - and planning of merchandise
Merchandisi
Confined merchandis
Limitations of regional marts
Market Research (Sources)
5. Net sales- total merchandise costs (Allow for overhead taxes and profit)
New York (Market Centers)
Gross Margin Percentage (Dollar Merchandise Plan)
Resident Buyer (Path for Buyers)
Management Consultants (Consulting Services)
6. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Using Resident Buying Offices (Sources)
Confined merchandis
Hypermarkets (Specialty
Dallas
7. Conduct own research
Sources of Merchandise (Buying)
Sources of Information (Retail Merchandising)
Market Research (Sources)
Lower prices
8. Focuses on a particular item or product
Promotio
Open-to-buy (Dollar Merchandise Plan)
Breadt
Specialized Store Buyer (Path for Buyers)
9. 2nd largest leasing space available
Store within a Store
Reporting Services (Sources)
Costume Designe
Los Angeles
10. Small area within a store for designers or popular manufacturers
In-store Success (Sources
Promotio
In-store Boutique
Overbought
11. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Store Owned Organizations (Product Development Organizations
Advertising
Off-Price Store (Specialty)
Sources of Merchandise (Buying)
12. Number of different items offered
Management Consultants (Consulting Services)
Buyer (Retail Merchandising)
Breadt
Two basic kinds of ratail advertising
13. Responsible for establishing the store's image
GMM (Merchandising; Retail Stores)
Shortage (Dollar Merchandise Plan)
Turnover (Dollar Merchandise Plan)
Factory Outlet (Specialty)
14. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Buyer (Merchandising; Retail Stores)
Store Ownership Group
Buyers Attend Market
Twig (Classifications; Department Store)
15. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Flagship (Classifications; Department Store)
Open-to-buy (Dollar Merchandise Plan)
Using Resident Buying Offices (Sources)
Paris (Global Fashion Centers)
16. When merchandise (inventory and ordered) is GREATER than need
Shortage (Dollar Merchandise Plan)
Overbought
Merchandisi
Merchandise Assortment Planning
17. Most aware of what is selling (bias)
Central Buyer (Path for Buyers)
Vendors (Sources)
Off-Price Store (Specialty)
Private Label
18. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Merchandisi
Using Resident Buying Offices (Sources)
Los Angeles
Stylist
19. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Merchandisi
Trade Associations (Sources)
Paris (Global Fashion Centers)
Buyer (Merchandising; Retail Stores)
20. Quantity of different items offered
Product Development
De
Stylist
Tokyo (Global Fashion Centers
21. Responsible for several areas
Confined merchandis
DMM (Merchandising; Retail Store
Factory Outlet (Specialty)
Direct Selling (Non-store Retailing)
22. Chain
Private Label
Specialized Store Buyer (Path for Buyers)
Limitations of regional marts
Central Buyer (Path for Buyers)
23. Compare what is available from the competition
Department Store (Characteristics)
Shopping the Stores (Sources)
Limitations of regional marts
Independently Owed (Product Development Organizations)
24. Merchandising offerings - Appropriate for customers
Minor Fashion Industries (Global Fashion Centers)
Factors in Selecting a Resource (Buying
Paths for Buyers
In-store Success (Sources
25. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Factors to be Considered in Editing (Buying)
Store Owner (Path for Buyers)
Look at offerings and need out and refine their line
Image (Promotion)
26. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
DMM (Merchandising; Retail Store
Market
Catalog Showroom (Specialty)
Merchandise Assortment Planning
27. Pay a fee for what are supposed to be wholesale prices
Wholesale Warehouse Clubs (Specialty)
Confined merchandis
Look at offerings and need out and refine their line
Store within a Store
28. Manufacturers Attend Market to...
Sources of Merchandise (Buying)
Direct Selling (Non-store Retailing)
Image (Promotion)
Look at offerings and need out and refine their line
29. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Market
Specialty Store
OB
Factory Outlet (Specialty)
30. Variety of low priced merchandise
Paris (Global Fashion Centers)
Dollar Merchandise Plan
Broad-based Business Consulting Services
Variety Store (Specialty)
31. 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
Turnover (Dollar Merchandise Plan)
Overbought
Some samples may never be mass produced
Milan (Global Fashion Centers)
32. Image Merchandise/promotional -advertising agencies bid for client accounts
Specialized Store Buyer (Path for Buyers)
Los Angeles
Lower prices
Two basic kinds of ratail advertising
33. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Stylist
Elements of Dollar Merchandize Plan
Publicity
Sources of Merchandise (Buying)
34. Ads; focuses on business itself
Catalog/Mail Order (Non-store Retai
Central Buyer (Path for Buyers)
Branch (Classifications; Department Store
Image (Advertising)
35. 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
Buyers Attend Market
Tokyo (Global Fashion Centers
OB
36. Larger orders may allow for...
Variety Store (Specialty)
Buyer (Retail Merchandising)
Minor Fashion Industries (Global Fashion Centers)
Lower prices
37. 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)
Confined merchandis
Market
Limitations of regional marts
38. Large number of resources centered in 7th Avenue area - Largest and most important domestically
New York (Market Centers)
OB
Los Angeles
Costume Designe
39. Mass - staples
Tokyo (Global Fashion Centers
Trade Publications (Sources)
Merchandisi
Franchise
40. Germany - Spain - Eastern Block
Dallas
Minor Fashion Industries (Global Fashion Centers)
Market Wee
Store Owner (Path for Buyers)
41. 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
Store within a Store
Store Ownership Group
Electronic Retailing (Non-store Retailing)
42. Merchandising - Buying - Product Development Organizations
Dollar Merchandise Plan
Independently owned services
Store Owned Organizations (Product Development Organizations
Personal Shopper
43. Regional center for bridal - evening wear
Personal Shopper
Catalog Showroom (Specialty)
Dallas
Overbought
44. Sourcing - Logistics related to - importing - Managing information systems
45. Where store execs are housed
Flagship (Classifications; Department Store)
Store Ownership Group
Shopping the Stores (Sources)
Resident Buyer (Path for Buyers)
46. Develops clothing for actors in plays - movies - and television
Lower prices
Costume Designe
Gross Margin Percentage (Dollar Merchandise Plan)
Central Buyer (Path for Buyers)
47. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Franchise
Merchandisi
Image (Advertising)
De
48. Market area - Assists specialized (central) buyer
Resident Buyer (Path for Buyers)
Central Buyer (Path for Buyers)
Independently owned services
Elements of Dollar Merchandize Plan
49. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Resident Buyer
Milan (Global Fashion Centers)
Branch (Classifications; Department Store
Sources of Information (Retail Merchandising)
50. 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
Regional Marts
DMM (Merchandising; Retail Store
Stylist
Merchandise Assortment Planning