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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
Personal Shopper
In-store Success (Sources
De
Shortage (Dollar Merchandise Plan)
2. Small operation
Stylist
Hypermarkets (Specialty
Resident Buyer (Path for Buyers)
Store Owner (Path for Buyers)
3. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Two basic kinds of ratail advertising
GMM (Merchandising; Retail Stores)
Trade Publications (Sources)
Gross Margin Percentage (Dollar Merchandise Plan)
4. Manufacturers Attend Market to...
OB
Lower prices
Look at offerings and need out and refine their line
Factory Outlet (Specialty)
5. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Buyers Attend Market
Twig (Classifications; Department Store)
Store Owned Organizations (Product Development Organizations
Variety Store (Specialty)
6. Focus specifically on product
Merchandise/Promotional (Advertising)
Using Resident Buying Offices (Sources)
Variety Store (Specialty)
Shortage (Dollar Merchandise Plan)
7. Focuses on the business itself
Personal Shopper
Confined merchandis
Image (Promotion)
Business Consultant's Services
8. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Buyer (Merchandising; Retail Stores)
Chain Store
Open-to-buy (Dollar Merchandise Plan)
Independently Owed (Product Development Organizations)
9. 2nd largest leasing space available
Buyer (Merchandising; Retail Stores)
Los Angeles
Catalog/Mail Order (Non-store Retai
Store Ownership Group
10. Sourcing - Logistics related to - importing - Managing information systems
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11. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Open-to-buy (Dollar Merchandise Plan)
Buyer (Merchandising; Retail Stores)
Publicity
Factors in Selecting a Resource (Buying
12. Store owner - Specialized store buyer - Central buyer - Resident buyer
De
Buyer (Merchandising; Retail Stores)
Factors to be Considered in Editing (Buying)
Paths for Buyers
13. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store within a Store
Milan (Global Fashion Centers)
Buyer (Merchandising; Retail Stores)
Merchandise/Promotional (Advertising)
14. Responsible for several areas
Vendors (Sources)
DMM (Merchandising; Retail Store
Factory Outlet (Specialty)
Broad-based Business Consulting Services
15. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Specialty Store
Market Wee
Minor Fashion Industries (Global Fashion Centers)
De
16. Current information on trends
Reporting Services (Sources)
Merchandise Assortment Planning
Terms to be Negotiated (Buying)
Promotio
17. Market area - Assists specialized (central) buyer
OB
Milan (Global Fashion Centers)
Store Owner (Path for Buyers)
Resident Buyer (Path for Buyers)
18. Door-to-door or house parties
Direct Selling (Non-store Retailing)
Tokyo (Global Fashion Centers
Limitations of regional marts
Store within a Store
19. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Market
Paris (Global Fashion Centers)
Regional Marts
Buyer (Retail Merchandising)
20. Buying - selling - and planning of merchandise
Merchandisi
Independently Owed (Product Development Organizations)
Image (Promotion)
Market
21. Chain
Dollar Merchandise Plan
Central Buyer (Path for Buyers)
Independently Owed (Product Development Organizations)
Breadt
22. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Direct Selling (Non-store Retailing)
Limitations of regional marts
Trade Associations (Sources)
Discount Store (Specialty)
23. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Los Angeles
Look at offerings and need out and refine their line
OB
Terms to be Negotiated (Buying)
24. Quantity of different items offered
Tokyo (Global Fashion Centers
Product Development
De
Chain Store
25. 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
DMM (Merchandising; Retail Store
Trade Associations (Sources)
Some samples may never be mass produced
Store within a Store
26. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Shortage (Dollar Merchandise Plan)
Merchandise Assortment Planning
Department Store (Characteristics)
Chain Store
27. Management consultants - Technical consultants - Import and export consultants
Factors in Selecting a Resource (Buying
Minor Fashion Industries (Global Fashion Centers)
Broad-based Business Consulting Services
Buyer (Merchandising; Retail Stores)
28. Number of different items offered
Catalog/Mail Order (Non-store Retai
In-store Success (Sources
DMM (Merchandising; Retail Store
Breadt
29. Conduct own research
Publicity
Costume Designe
Market Research (Sources)
Buyer (Merchandising; Retail Stores)
30. Located in market
Sources of Information (Retail Merchandising)
Using Resident Buying Offices (Sources)
Sources of Merchandise (Buying)
Off-Price Store (Specialty)
31. Responsible for a department/area
Buyer (Merchandising; Retail Stores)
Breadt
Market Research (Sources)
Paths for Buyers
32. Merchandising offerings - Appropriate for customers
Resident Buyer
Factors in Selecting a Resource (Buying
Buyer (Merchandising; Retail Stores)
Shortage (Dollar Merchandise Plan)
33. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Costume Designe
Chain Store
Paris (Global Fashion Centers)
Management Consultants (Consulting Services)
34. When merchandise (inventory and ordered) is GREATER than need
Store Owned Organizations (Product Development Organizations
Market
Tokyo (Global Fashion Centers
Overbought
35. Regional center for bridal - evening wear
Los Angeles
Dallas
Sources of Information (Retail Merchandising)
Elements of Dollar Merchandize Plan
36. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Business Consultant's Services
Personal Shopper
Branch (Classifications; Department Store
Market
37. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Trade Associations (Sources)
Reporting Services (Sources)
Sources of Merchandise (Buying)
Hypermarkets (Specialty
38. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Market
Lower prices
Broad-based Business Consulting Services
Franchise
39. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Franchise
Some samples may never be mass produced
Costume Designe
Elements of Dollar Merchandize Plan
40. WWD - DNR - stores (consumer fashion magazines)
Shortage (Dollar Merchandise Plan)
London (Global Fashion Centers)
Trade Publications (Sources)
Reporting Services (Sources)
41. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Milan (Global Fashion Centers)
Hypermarkets (Specialty
Factors in Selecting a Resource (Buying
Open-to-buy (Dollar Merchandise Plan)
42. Store's own label for career and casual sportswear; prices vary (better to moderate)
Variety Store (Specialty)
Store within a Store
Catalog/Mail Order (Non-store Retai
Private Label
43. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
GMM (Merchandising; Retail Stores)
Catalog/Mail Order (Non-store Retai
Store Owner (Path for Buyers)
Resident Buyer (Path for Buyers)
44. Merchandising - Buying - Product Development Organizations
New York (Market Centers)
Independently owned services
Merchandise/Promotional (Advertising)
Dollar Merchandise Plan
45. Develops clothing for actors in plays - movies - and television
Factors to be Considered in Editing (Buying)
Costume Designe
Department Store (Characteristics)
Central Buyer (Path for Buyers)
46. Order from catalog and pick up immediately
Open-to-buy (Dollar Merchandise Plan)
Catalog Showroom (Specialty)
Chain Store
OB
47. Responsible for establishing the store's image
Lower prices
Factors to be Considered in Editing (Buying)
New York (Market Centers)
GMM (Merchandising; Retail Stores)
48. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
De
In-store Boutique
Central Buyer (Path for Buyers)
Sources of Information (Retail Merchandising)
49. Where store execs are housed
Store Owner (Path for Buyers)
Minor Fashion Industries (Global Fashion Centers)
Flagship (Classifications; Department Store)
Dallas
50. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Buyer (Merchandising; Retail Stores)
Central Buyer (Path for Buyers)
Merchandise/Promotional (Advertising)