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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. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Department Store (Characteristics)
Catalog Showroom (Specialty)
Terms to be Negotiated (Buying)
Store Ownership Group
2. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Turnover (Dollar Merchandise Plan)
Franchise
Specialty Store
Lower prices
3. Pay a fee for what are supposed to be wholesale prices
Using Resident Buying Offices (Sources)
Elements of Dollar Merchandize Plan
Image (Promotion)
Wholesale Warehouse Clubs (Specialty)
4. Small area within a store for designers or popular manufacturers
Hypermarkets (Specialty
Department Store (Characteristics)
Look at offerings and need out and refine their line
In-store Boutique
5. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Department Store (Characteristics)
Confined merchandis
Terms to be Negotiated (Buying)
Reporting Services (Sources)
6. Where store execs are housed
London (Global Fashion Centers)
Flagship (Classifications; Department Store)
Costume Designe
Image (Advertising)
7. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Market Wee
Sources of Merchandise (Buying)
Discount Store (Specialty)
Dollar Merchandise Plan
8. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Department Store (Characteristics)
Shortage (Dollar Merchandise Plan)
Stylist
Limitations of regional marts
9. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Minor Fashion Industries (Global Fashion Centers)
Hypermarkets (Specialty
Vendors (Sources)
Paths for Buyers
10. Focuses on the business itself
Costume Designe
Shopping the Stores (Sources)
Sources of Merchandise (Buying)
Image (Promotion)
11. Responsible for a department/area
Catalog/Mail Order (Non-store Retai
Terms to be Negotiated (Buying)
Buyer (Merchandising; Retail Stores)
Management Consultants (Consulting Services)
12. Number of different items offered
New York (Market Centers)
Hypermarkets (Specialty
Market Research (Sources)
Breadt
13. Most aware of what is selling (bias)
Vendors (Sources)
Factors to be Considered in Editing (Buying)
Business Consultant's Services
Buyer (Retail Merchandising)
14. Conduct own research
Management Consultants (Consulting Services)
Central Buyer (Path for Buyers)
Market Research (Sources)
Trade Associations (Sources)
15. Focuses on management and market research
Sources of Information (Retail Merchandising)
Management Consultants (Consulting Services)
Regional Marts
Central Buyer (Path for Buyers)
16. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Catalog/Mail Order (Non-store Retai
Two basic kinds of ratail advertising
Using Resident Buying Offices (Sources)
Some samples may never be mass produced
17. Small operation
Store within a Store
Store Owner (Path for Buyers)
Off-Price Store (Specialty)
Overbought
18. 2nd largest leasing space available
Los Angeles
Catalog Showroom (Specialty)
De
Specialty Store
19. Small specialized store of a department store
Twig (Classifications; Department Store)
Variety Store (Specialty)
Publicity
Broad-based Business Consulting Services
20. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Factors to be Considered in Editing (Buying)
Product Development
Paths for Buyers
Dollar Merchandise Plan
21. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
OB
Confined merchandis
Image (Advertising)
Independently Owed (Product Development Organizations)
22. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Breadt
Sources of Information (Retail Merchandising)
Open-to-buy (Dollar Merchandise Plan)
Buyer (Retail Merchandising)
23. Responsible for several areas
Management Consultants (Consulting Services)
Store within a Store
Buyers Attend Market
DMM (Merchandising; Retail Store
24. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Image (Advertising)
Shortage (Dollar Merchandise Plan)
New York (Market Centers)
Market Research (Sources)
25. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
In-store Boutique
Look at offerings and need out and refine their line
Independently owned services
Paris (Global Fashion Centers)
26. 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
Shopping the Stores (Sources)
Buyers Attend Market
Franchise
Specialized Store Buyer (Path for Buyers)
27. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Factors in Selecting a Resource (Buying
Merchandise Assortment Planning
Franchise
Turnover (Dollar Merchandise Plan)
28. Compare what is available from the competition
Off-Price Store (Specialty)
Shopping the Stores (Sources)
Dollar Merchandise Plan
Central Buyer (Path for Buyers)
29. Television or computer shopping
Merchandisi
Elements of Dollar Merchandize Plan
Merchandise/Promotional (Advertising)
Electronic Retailing (Non-store Retailing)
30. Regional center for bridal - evening wear
Advertising
Store Owner (Path for Buyers)
Dallas
Resident Buyer (Path for Buyers)
31. Quantity of different items offered
Publicity
Store Ownership Group
De
Factory Outlet (Specialty)
32. Money left to buy- when merchandise NEEDS to exceed merchandise available
Store Owned Organizations (Product Development Organizations
Image (Promotion)
Paris (Global Fashion Centers)
OB
33. Specialize in brand and designer name clothing at discounted prices
Off-Price Store (Specialty)
Dallas
Promotio
Breadt
34. Net sales- total merchandise costs (Allow for overhead taxes and profit)
New York (Market Centers)
Market
Gross Margin Percentage (Dollar Merchandise Plan)
Stylist
35. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Buyers Attend Market
Stylist
Sources of Information (Retail Merchandising)
Broad-based Business Consulting Services
36. Mass - staples
Trade Publications (Sources)
Tokyo (Global Fashion Centers
London (Global Fashion Centers)
Factors to be Considered in Editing (Buying)
37. 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
Store Ownership Group
Factors to be Considered in Editing (Buying)
Regional Marts
Overbought
38. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Dallas
Limitations of regional marts
Specialized Store Buyer (Path for Buyers)
Stylist
39. Responsible for establishing the store's image
Independently Owed (Product Development Organizations)
Vendors (Sources)
Sources of Merchandise (Buying)
GMM (Merchandising; Retail Stores)
40. Located in market
Using Resident Buying Offices (Sources)
Lower prices
Market Wee
Sources of Merchandise (Buying)
41. 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
Store within a Store
Merchandise Assortment Planning
Some samples may never be mass produced
Department Store (Characteristics)
42. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
DMM (Merchandising; Retail Store
Store within a Store
Direct Selling (Non-store Retailing)
New York (Market Centers)
43. Variety of low priced merchandise
Gross Margin Percentage (Dollar Merchandise Plan)
Shortage (Dollar Merchandise Plan)
Variety Store (Specialty)
Independently Owed (Product Development Organizations)
44. Shoplifting - internal theft - inaccurate records
Buyer (Retail Merchandising)
Shortage (Dollar Merchandise Plan)
Some samples may never be mass produced
Paths for Buyers
45. Merchandising offerings - Appropriate for customers
Terms to be Negotiated (Buying)
Private Label
Factors in Selecting a Resource (Buying
Department Store (Characteristics)
46. Management consultants - Technical consultants - Import and export consultants
Broad-based Business Consulting Services
Terms to be Negotiated (Buying)
Personal Shopper
Look at offerings and need out and refine their line
47. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Image (Advertising)
Regional Marts
Open-to-buy (Dollar Merchandise Plan)
Buyer (Retail Merchandising)
48. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Wholesale Warehouse Clubs (Specialty)
OB
Dollar Merchandise Plan
Two basic kinds of ratail advertising
49. Ads; focuses on business itself
Reporting Services (Sources)
Independently owned services
Management Consultants (Consulting Services)
Image (Advertising)
50. Menswear
Turnover (Dollar Merchandise Plan)
Specialized Store Buyer (Path for Buyers)
Paris (Global Fashion Centers)
London (Global Fashion Centers)