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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. 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
Store Ownership Group
Buyer (Retail Merchandising)
Market
2. Responsible for several areas
Market Research (Sources)
DMM (Merchandising; Retail Store
Electronic Retailing (Non-store Retailing)
Management Consultants (Consulting Services)
3. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Buyers Attend Market
Regional Marts
Specialty Store
In-store Success (Sources
4. 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
Store Owned Organizations (Product Development Organizations
Breadt
Store Owner (Path for Buyers)
Buyers Attend Market
5. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store within a Store
Sources of Information (Retail Merchandising)
Dallas
Broad-based Business Consulting Services
6. Selling responsibilities
Dollar Merchandise Plan
Wholesale Warehouse Clubs (Specialty)
Specialized Store Buyer (Path for Buyers)
Discount Store (Specialty)
7. Germany - Spain - Eastern Block
Wholesale Warehouse Clubs (Specialty)
Reporting Services (Sources)
Minor Fashion Industries (Global Fashion Centers)
Using Resident Buying Offices (Sources)
8. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
London (Global Fashion Centers)
Turnover (Dollar Merchandise Plan)
Lower prices
Branch (Classifications; Department Store
9. Cotton Inc. - Wool Bureau
Turnover (Dollar Merchandise Plan)
In-store Boutique
Resident Buyer
Trade Associations (Sources)
10. Responsible for a department/area
Promotio
Management Consultants (Consulting Services)
Publicity
Buyer (Merchandising; Retail Stores)
11. Money left to buy- when merchandise NEEDS to exceed merchandise available
Confined merchandis
Resident Buyer
OB
London (Global Fashion Centers)
12. Conduct own research
Business Consultant's Services
Market Research (Sources)
Sources of Merchandise (Buying)
Limitations of regional marts
13. Merchandising offerings - Appropriate for customers
Sources of Information (Retail Merchandising)
Store Owned Organizations (Product Development Organizations
Trade Publications (Sources)
Factors in Selecting a Resource (Buying
14. Shoplifting - internal theft - inaccurate records
Reporting Services (Sources)
De
Shortage (Dollar Merchandise Plan)
Catalog/Mail Order (Non-store Retai
15. Typically 6 months prior to season
Factors in Selecting a Resource (Buying
Market Wee
Wholesale Warehouse Clubs (Specialty)
Central Buyer (Path for Buyers)
16. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Image (Promotion)
Factors to be Considered in Editing (Buying)
Limitations of regional marts
Wholesale Warehouse Clubs (Specialty)
17. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Store Ownership Group
Electronic Retailing (Non-store Retailing)
Promotio
Buyer (Retail Merchandising)
18. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
Independently Owed (Product Development Organizations)
Wholesale Warehouse Clubs (Specialty)
Sources of Information (Retail Merchandising)
19. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Terms to be Negotiated (Buying)
Vendors (Sources)
London (Global Fashion Centers)
Factory Outlet (Specialty)
20. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandise Assortment Planning
Twig (Classifications; Department Store)
Factory Outlet (Specialty)
Flagship (Classifications; Department Store)
21. Develops clothing for actors in plays - movies - and television
Open-to-buy (Dollar Merchandise Plan)
Catalog Showroom (Specialty)
Sources of Information (Retail Merchandising)
Costume Designe
22. When merchandise (inventory and ordered) is GREATER than need
DMM (Merchandising; Retail Store
Paths for Buyers
Publicity
Overbought
23. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
DMM (Merchandising; Retail Store
Discount Store (Specialty)
In-store Success (Sources
Shortage (Dollar Merchandise Plan)
24. 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
Chain Store
Reporting Services (Sources)
Factors to be Considered in Editing (Buying)
Stylist
25. 2nd largest leasing space available
Store Owner (Path for Buyers)
Elements of Dollar Merchandize Plan
Store within a Store
Los Angeles
26. 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
Store Ownership Group
London (Global Fashion Centers)
New York (Market Centers)
Resident Buyer
27. People who shop for clients
Reporting Services (Sources)
Specialized Store Buyer (Path for Buyers)
Personal Shopper
Market Wee
28. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Branch (Classifications; Department Store
Paris (Global Fashion Centers)
In-store Boutique
Sources of Information (Retail Merchandising)
29. Sales records - Sales people
In-store Success (Sources
Private Label
Shortage (Dollar Merchandise Plan)
Reporting Services (Sources)
30. Order from catalog and pick up immediately
Catalog Showroom (Specialty)
DMM (Merchandising; Retail Store
Open-to-buy (Dollar Merchandise Plan)
Los Angeles
31. Located in market
Lower prices
Flagship (Classifications; Department Store)
Business Consultant's Services
Using Resident Buying Offices (Sources)
32. Where store execs are housed
Overbought
Market
Flagship (Classifications; Department Store)
Stylist
33. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Market
Buyer (Retail Merchandising)
Market Research (Sources)
Store Owned Organizations (Product Development Organizations
34. Regional center for bridal - evening wear
De
In-store Success (Sources
Dallas
Chain Store
35. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Buyer (Retail Merchandising)
Merchandise Assortment Planning
Limitations of regional marts
Terms to be Negotiated (Buying)
36. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Management Consultants (Consulting Services)
Some samples may never be mass produced
Gross Margin Percentage (Dollar Merchandise Plan)
Market Wee
37. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Sources of Merchandise (Buying)
OB
Factors in Selecting a Resource (Buying
New York (Market Centers)
38. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Trade Publications (Sources)
Hypermarkets (Specialty
Store within a Store
Branch (Classifications; Department Store
39. Small area within a store for designers or popular manufacturers
Buyer (Merchandising; Retail Stores)
Factory Outlet (Specialty)
Branch (Classifications; Department Store
In-store Boutique
40. Small specialized store of a department store
Twig (Classifications; Department Store)
Store within a Store
Reporting Services (Sources)
Merchandise Assortment Planning
41. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Los Angeles
Stylist
Specialty Store
Buyer (Retail Merchandising)
42. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Store Owner (Path for Buyers)
Elements of Dollar Merchandize Plan
Milan (Global Fashion Centers)
Promotio
43. Buying - selling - and planning of merchandise
Shortage (Dollar Merchandise Plan)
Breadt
Catalog Showroom (Specialty)
Merchandisi
44. Sourcing - Logistics related to - importing - Managing information systems
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45. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Stylist
New York (Market Centers)
Catalog/Mail Order (Non-store Retai
Specialized Store Buyer (Path for Buyers)
46. Small operation
Two basic kinds of ratail advertising
Store Owner (Path for Buyers)
Shortage (Dollar Merchandise Plan)
Merchandise Assortment Planning
47. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Open-to-buy (Dollar Merchandise Plan)
Dollar Merchandise Plan
Trade Publications (Sources)
Two basic kinds of ratail advertising
48. 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
DMM (Merchandising; Retail Store
Stylist
Regional Marts
Product Development
49. Television or computer shopping
Flagship (Classifications; Department Store)
Electronic Retailing (Non-store Retailing)
Open-to-buy (Dollar Merchandise Plan)
Lower prices
50. Store open another facility in a different location - often in suburbs
Branch (Classifications; Department Store
Stylist
Look at offerings and need out and refine their line
Paris (Global Fashion Centers)