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Test your basic knowledge |
Fashion Merchandizing
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Subjects
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business-skills
,
industries
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
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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. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Turnover (Dollar Merchandise Plan)
Gross Margin Percentage (Dollar Merchandise Plan)
Business Consultant's Services
Dallas
2. Mass - staples
Tokyo (Global Fashion Centers
Breadt
Resident Buyer
Merchandise/Promotional (Advertising)
3. Order from catalog and pick up immediately
Chain Store
Hypermarkets (Specialty
Catalog Showroom (Specialty)
Tokyo (Global Fashion Centers
4. Focuses on management and market research
Merchandise/Promotional (Advertising)
Management Consultants (Consulting Services)
Store Ownership Group
Two basic kinds of ratail advertising
5. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
Chain Store
Dallas
Store Owned Organizations (Product Development Organizations
6. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Product Development
De
Promotio
Terms to be Negotiated (Buying)
7. Chain
Independently Owed (Product Development Organizations)
Dollar Merchandise Plan
Central Buyer (Path for Buyers)
Branch (Classifications; Department Store
8. Sales records - Sales people
Off-Price Store (Specialty)
Independently owned services
Flagship (Classifications; Department Store)
In-store Success (Sources
9. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
Overbought
In-store Success (Sources
Paris (Global Fashion Centers)
10. Focuses on a particular item or product
New York (Market Centers)
Promotio
Broad-based Business Consulting Services
Shortage (Dollar Merchandise Plan)
11. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Some samples may never be mass produced
Dallas
Store Owner (Path for Buyers)
12. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandise Assortment Planning
Image (Promotion)
De
Some samples may never be mass produced
13. Where store execs are housed
Resident Buyer
Stylist
Flagship (Classifications; Department Store)
Limitations of regional marts
14. Small operation
Market
Store Ownership Group
Paths for Buyers
Store Owner (Path for Buyers)
15. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Product Development
Regional Marts
Store Ownership Group
New York (Market Centers)
16. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
In-store Boutique
Minor Fashion Industries (Global Fashion Centers)
Store Owner (Path for Buyers)
Paris (Global Fashion Centers)
17. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Open-to-buy (Dollar Merchandise Plan)
Specialty Store
Market Wee
Dallas
18. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Reporting Services (Sources)
Overbought
Sources of Merchandise (Buying)
Two basic kinds of ratail advertising
19. Italian fashion - Knits - Shoes - Menswear
In-store Success (Sources
Trade Associations (Sources)
Milan (Global Fashion Centers)
Resident Buyer
20. WWD - DNR - stores (consumer fashion magazines)
Store within a Store
Trade Publications (Sources)
Shortage (Dollar Merchandise Plan)
Promotio
21. 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
Promotio
Trade Associations (Sources)
Vendors (Sources)
22. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Tokyo (Global Fashion Centers
New York (Market Centers)
Resident Buyer (Path for Buyers)
Turnover (Dollar Merchandise Plan)
23. Quantity of different items offered
Personal Shopper
De
Catalog/Mail Order (Non-store Retai
Merchandise Assortment Planning
24. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Catalog Showroom (Specialty)
Lower prices
Specialized Store Buyer (Path for Buyers)
Hypermarkets (Specialty
25. People who shop for clients
Two basic kinds of ratail advertising
Store within a Store
Merchandisi
Personal Shopper
26. Merchandising - Buying - Product Development Organizations
Independently owned services
Dollar Merchandise Plan
Resident Buyer
Overbought
27. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Hypermarkets (Specialty
Catalog/Mail Order (Non-store Retai
Department Store (Characteristics)
Store Owned Organizations (Product Development Organizations
28. Compare what is available from the competition
Gross Margin Percentage (Dollar Merchandise Plan)
Sources of Merchandise (Buying)
Market Research (Sources)
Shopping the Stores (Sources)
29. Pay a fee for what are supposed to be wholesale prices
Promotio
Terms to be Negotiated (Buying)
Wholesale Warehouse Clubs (Specialty)
Merchandise/Promotional (Advertising)
30. 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
Resident Buyer
Terms to be Negotiated (Buying)
Direct Selling (Non-store Retailing)
Factors to be Considered in Editing (Buying)
31. Variety of low priced merchandise
Image (Advertising)
Variety Store (Specialty)
Business Consultant's Services
Overbought
32. Store's own label for career and casual sportswear; prices vary (better to moderate)
Costume Designe
Independently owned services
Using Resident Buying Offices (Sources)
Private Label
33. Germany - Spain - Eastern Block
Minor Fashion Industries (Global Fashion Centers)
Store Owned Organizations (Product Development Organizations
Reporting Services (Sources)
Open-to-buy (Dollar Merchandise Plan)
34. Develops clothing for actors in plays - movies - and television
Overbought
Dallas
Regional Marts
Costume Designe
35. Focus specifically on product
Merchandise/Promotional (Advertising)
Discount Store (Specialty)
Trade Publications (Sources)
Variety Store (Specialty)
36. 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
Resident Buyer
OB
Confined merchandis
Chain Store
37. Merchandising offerings - Appropriate for customers
Image (Promotion)
Factors in Selecting a Resource (Buying
Buyer (Merchandising; Retail Stores)
Store Owned Organizations (Product Development Organizations
38. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Twig (Classifications; Department Store)
Stylist
Confined merchandis
Dallas
39. Small area within a store for designers or popular manufacturers
Electronic Retailing (Non-store Retailing)
Merchandise Assortment Planning
Limitations of regional marts
In-store Boutique
40. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Independently Owed (Product Development Organizations)
Electronic Retailing (Non-store Retailing)
Specialty Store
Market Research (Sources)
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
Turnover (Dollar Merchandise Plan)
London (Global Fashion Centers)
Resident Buyer (Path for Buyers)
42. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Market Research (Sources)
Specialized Store Buyer (Path for Buyers)
Stylist
Turnover (Dollar Merchandise Plan)
43. Larger orders may allow for...
Market
GMM (Merchandising; Retail Stores)
Store Owned Organizations (Product Development Organizations
Lower prices
44. Responsible for a department/area
Business Consultant's Services
Reporting Services (Sources)
Buyer (Merchandising; Retail Stores)
Image (Advertising)
45. Current information on trends
De
Direct Selling (Non-store Retailing)
Reporting Services (Sources)
Publicity
46. Conduct own research
Specialty Store
Shortage (Dollar Merchandise Plan)
Market Research (Sources)
Dollar Merchandise Plan
47. Not paid for by the retailer and the retailer doesn't have control over what is said
Los Angeles
Merchandise/Promotional (Advertising)
Publicity
London (Global Fashion Centers)
48. Ads; focuses on business itself
Image (Advertising)
Department Store (Characteristics)
Specialty Store
Store Owner (Path for Buyers)
49. Small specialized store of a department store
Dallas
Central Buyer (Path for Buyers)
Twig (Classifications; Department Store)
New York (Market Centers)
50. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Sources of Information (Retail Merchandising)
Confined merchandis
Buyer (Retail Merchandising)
Open-to-buy (Dollar Merchandise Plan)
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