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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
Business Consultant's Services
Twig (Classifications; Department Store)
Wholesale Warehouse Clubs (Specialty)
2. Regional center for bridal - evening wear
Trade Associations (Sources)
Dallas
Image (Advertising)
Independently owned services
3. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Electronic Retailing (Non-store Retailing)
Stylist
Resident Buyer
Image (Advertising)
4. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Lower prices
Trade Publications (Sources)
Independently Owed (Product Development Organizations)
Advertising
5. Most aware of what is selling (bias)
Vendors (Sources)
Sources of Information (Retail Merchandising)
Broad-based Business Consulting Services
Factory Outlet (Specialty)
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
Two basic kinds of ratail advertising
Promotio
Chain Store
Flagship (Classifications; Department Store)
7. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Buyer (Retail Merchandising)
Market
Resident Buyer (Path for Buyers)
Catalog/Mail Order (Non-store Retai
8. Television or computer shopping
Flagship (Classifications; Department Store)
Merchandise Assortment Planning
Electronic Retailing (Non-store Retailing)
Turnover (Dollar Merchandise Plan)
9. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Buyer (Retail Merchandising)
Private Label
Terms to be Negotiated (Buying)
Store Ownership Group
10. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Direct Selling (Non-store Retailing)
Merchandise/Promotional (Advertising)
Sources of Merchandise (Buying)
Elements of Dollar Merchandize Plan
11. Shoplifting - internal theft - inaccurate records
Open-to-buy (Dollar Merchandise Plan)
Branch (Classifications; Department Store
Shortage (Dollar Merchandise Plan)
Product Development
12. Chain
Central Buyer (Path for Buyers)
Direct Selling (Non-store Retailing)
Look at offerings and need out and refine their line
Variety Store (Specialty)
13. Buying - selling - and planning of merchandise
Wholesale Warehouse Clubs (Specialty)
Merchandisi
Shopping the Stores (Sources)
Promotio
14. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Paris (Global Fashion Centers)
Catalog/Mail Order (Non-store Retai
Stylist
Central Buyer (Path for Buyers)
15. Focuses on the business itself
Image (Promotion)
Department Store (Characteristics)
Catalog Showroom (Specialty)
Branch (Classifications; Department Store
16. Small area within a store for designers or popular manufacturers
Wholesale Warehouse Clubs (Specialty)
Store within a Store
In-store Boutique
Personal Shopper
17. Manufacturers Attend Market to...
Personal Shopper
Confined merchandis
Store within a Store
Look at offerings and need out and refine their line
18. Store's own label for career and casual sportswear; prices vary (better to moderate)
New York (Market Centers)
Using Resident Buying Offices (Sources)
Private Label
Independently Owed (Product Development Organizations)
19. Mass - staples
Factors to be Considered in Editing (Buying)
Los Angeles
Terms to be Negotiated (Buying)
Tokyo (Global Fashion Centers
20. 2nd largest leasing space available
Department Store (Characteristics)
Vendors (Sources)
Los Angeles
Turnover (Dollar Merchandise Plan)
21. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Catalog Showroom (Specialty)
Department Store (Characteristics)
Shopping the Stores (Sources)
Open-to-buy (Dollar Merchandise Plan)
22. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Shopping the Stores (Sources)
London (Global Fashion Centers)
Overbought
Sources of Information (Retail Merchandising)
23. Conduct own research
Branch (Classifications; Department Store
Factory Outlet (Specialty)
Market Research (Sources)
Store Owned Organizations (Product Development Organizations
24. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Business Consultant's Services
Store within a Store
Department Store (Characteristics)
Using Resident Buying Offices (Sources)
25. Ads; focuses on business itself
Franchise
Los Angeles
Image (Advertising)
Market Research (Sources)
26. Develops clothing for actors in plays - movies - and television
Limitations of regional marts
Gross Margin Percentage (Dollar Merchandise Plan)
Electronic Retailing (Non-store Retailing)
Costume Designe
27. Pay a fee for what are supposed to be wholesale prices
Overbought
Wholesale Warehouse Clubs (Specialty)
Image (Advertising)
Costume Designe
28. When merchandise (inventory and ordered) is GREATER than need
Overbought
Central Buyer (Path for Buyers)
Image (Advertising)
Independently Owed (Product Development Organizations)
29. Small specialized store of a department store
Promotio
Trade Associations (Sources)
Buyer (Retail Merchandising)
Twig (Classifications; Department Store)
30. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Image (Advertising)
Dollar Merchandise Plan
Independently owned services
Open-to-buy (Dollar Merchandise Plan)
31. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
OB
Minor Fashion Industries (Global Fashion Centers)
Turnover (Dollar Merchandise Plan)
Catalog Showroom (Specialty)
32. Larger orders may allow for...
In-store Boutique
Buyer (Retail Merchandising)
Buyer (Merchandising; Retail Stores)
Lower prices
33. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
Resident Buyer
Electronic Retailing (Non-store Retailing)
Paris (Global Fashion Centers)
34. Selling responsibilities
Hypermarkets (Specialty
Image (Promotion)
Specialized Store Buyer (Path for Buyers)
Buyer (Retail Merchandising)
35. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Market
Trade Publications (Sources)
Direct Selling (Non-store Retailing)
Limitations of regional marts
36. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
In-store Success (Sources
Franchise
Twig (Classifications; Department Store)
Independently Owed (Product Development Organizations)
37. Variety of low priced merchandise
Merchandise/Promotional (Advertising)
Variety Store (Specialty)
Private Label
Chain Store
38. Focuses on a particular item or product
Promotio
Store Ownership Group
Two basic kinds of ratail advertising
Paris (Global Fashion Centers)
39. Responsible for establishing the store's image
Shortage (Dollar Merchandise Plan)
Promotio
GMM (Merchandising; Retail Stores)
Management Consultants (Consulting Services)
40. Responsible for several areas
DMM (Merchandising; Retail Store
Direct Selling (Non-store Retailing)
Paths for Buyers
Factors to be Considered in Editing (Buying)
41. 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
Gross Margin Percentage (Dollar Merchandise Plan)
Costume Designe
Store within a Store
Buyers Attend Market
42. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Elements of Dollar Merchandize Plan
Store Owned Organizations (Product Development Organizations
Buyer (Retail Merchandising)
Dollar Merchandise Plan
43. Sourcing - Logistics related to - importing - Managing information systems
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44. Focuses on management and market research
In-store Boutique
Management Consultants (Consulting Services)
Buyer (Merchandising; Retail Stores)
Direct Selling (Non-store Retailing)
45. Image Merchandise/promotional -advertising agencies bid for client accounts
Independently Owed (Product Development Organizations)
Merchandisi
Two basic kinds of ratail advertising
Turnover (Dollar Merchandise Plan)
46. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Central Buyer (Path for Buyers)
Product Development
Image (Advertising)
47. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Product Development
Specialized Store Buyer (Path for Buyers)
Advertising
Independently owned services
48. Compare what is available from the competition
Paths for Buyers
Shopping the Stores (Sources)
Terms to be Negotiated (Buying)
Business Consultant's Services
49. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Buyer (Retail Merchandising)
Product Development
Overbought
Open-to-buy (Dollar Merchandise Plan)
50. Money left to buy- when merchandise NEEDS to exceed merchandise available
Store Owner (Path for Buyers)
OB
Limitations of regional marts
Using Resident Buying Offices (Sources)