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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. Manufacturers Attend Market to...
Franchise
Catalog Showroom (Specialty)
Look at offerings and need out and refine their line
Advertising
2. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Terms to be Negotiated (Buying)
Store Ownership Group
Merchandise Assortment Planning
Image (Advertising)
3. Ads; focuses on business itself
Personal Shopper
Reporting Services (Sources)
Image (Advertising)
Factors to be Considered in Editing (Buying)
4. Located in market
Using Resident Buying Offices (Sources)
Image (Promotion)
Shopping the Stores (Sources)
Chain Store
5. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Paths for Buyers
Limitations of regional marts
Personal Shopper
Using Resident Buying Offices (Sources)
6. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Factors in Selecting a Resource (Buying
Some samples may never be mass produced
OB
Store Ownership Group
7. Focuses on a particular item or product
Promotio
Trade Publications (Sources)
Los Angeles
Specialty Store
8. WWD - DNR - stores (consumer fashion magazines)
Regional Marts
Trade Publications (Sources)
Image (Advertising)
Private Label
9. Where store execs are housed
OB
Flagship (Classifications; Department Store)
Market
Independently owned services
10. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Using Resident Buying Offices (Sources)
Franchise
Some samples may never be mass produced
Promotio
11. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Overbought
Promotio
Catalog Showroom (Specialty)
Open-to-buy (Dollar Merchandise Plan)
12. Quantity of different items offered
Catalog/Mail Order (Non-store Retai
Specialty Store
Limitations of regional marts
De
13. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
GMM (Merchandising; Retail Stores)
Advertising
Shopping the Stores (Sources)
London (Global Fashion Centers)
14. Store's own label for career and casual sportswear; prices vary (better to moderate)
Reporting Services (Sources)
Private Label
Franchise
Stylist
15. Focuses on the business itself
Image (Promotion)
Terms to be Negotiated (Buying)
Reporting Services (Sources)
Specialty Store
16. Current information on trends
Breadt
Reporting Services (Sources)
Minor Fashion Industries (Global Fashion Centers)
Franchise
17. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Store Ownership Group
Hypermarkets (Specialty
Los Angeles
Paris (Global Fashion Centers)
18. Small operation
Catalog Showroom (Specialty)
Electronic Retailing (Non-store Retailing)
Store Owner (Path for Buyers)
Franchise
19. When merchandise (inventory and ordered) is GREATER than need
Overbought
Catalog Showroom (Specialty)
Los Angeles
Buyer (Retail Merchandising)
20. Door-to-door or house parties
Market Wee
DMM (Merchandising; Retail Store
Milan (Global Fashion Centers)
Direct Selling (Non-store Retailing)
21. Buying - selling - and planning of merchandise
Publicity
Hypermarkets (Specialty
De
Merchandisi
22. Italian fashion - Knits - Shoes - Menswear
Shopping the Stores (Sources)
Milan (Global Fashion Centers)
Look at offerings and need out and refine their line
New York (Market Centers)
23. 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
Regional Marts
Discount Store (Specialty)
Shortage (Dollar Merchandise Plan)
GMM (Merchandising; Retail Stores)
24. Order from catalog and pick up immediately
Catalog Showroom (Specialty)
GMM (Merchandising; Retail Stores)
Merchandise/Promotional (Advertising)
Chain Store
25. Shoplifting - internal theft - inaccurate records
Franchise
Elements of Dollar Merchandize Plan
Shortage (Dollar Merchandise Plan)
Image (Promotion)
26. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Buyers Attend Market
Overbought
Factors in Selecting a Resource (Buying
Dollar Merchandise Plan
27. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Private Label
Dallas
Turnover (Dollar Merchandise Plan)
Open-to-buy (Dollar Merchandise Plan)
28. Market area - Assists specialized (central) buyer
Shopping the Stores (Sources)
Specialized Store Buyer (Path for Buyers)
Regional Marts
Resident Buyer (Path for Buyers)
29. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store within a Store
Business Consultant's Services
Paris (Global Fashion Centers)
Variety Store (Specialty)
30. Compare what is available from the competition
Variety Store (Specialty)
Paths for Buyers
Central Buyer (Path for Buyers)
Shopping the Stores (Sources)
31. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Discount Store (Specialty)
Store Owner (Path for Buyers)
Limitations of regional marts
Confined merchandis
32. Image Merchandise/promotional -advertising agencies bid for client accounts
Hypermarkets (Specialty
Trade Publications (Sources)
Vendors (Sources)
Two basic kinds of ratail advertising
33. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Confined merchandis
Catalog/Mail Order (Non-store Retai
Buyer (Retail Merchandising)
Paths for Buyers
34. Sales records - Sales people
In-store Success (Sources
De
DMM (Merchandising; Retail Store
Some samples may never be mass produced
35. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Department Store (Characteristics)
Look at offerings and need out and refine their line
GMM (Merchandising; Retail Stores)
Market Wee
36. Store owner - Specialized store buyer - Central buyer - Resident buyer
Overbought
Merchandisi
Dollar Merchandise Plan
Paths for Buyers
37. Number of different items offered
Turnover (Dollar Merchandise Plan)
Catalog Showroom (Specialty)
In-store Boutique
Breadt
38. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Vendors (Sources)
Catalog/Mail Order (Non-store Retai
Gross Margin Percentage (Dollar Merchandise Plan)
Elements of Dollar Merchandize Plan
39. Focus specifically on product
Franchise
Merchandise/Promotional (Advertising)
Direct Selling (Non-store Retailing)
Using Resident Buying Offices (Sources)
40. Cotton Inc. - Wool Bureau
Independently owned services
Los Angeles
Buyer (Retail Merchandising)
Trade Associations (Sources)
41. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Buyer (Retail Merchandising)
New York (Market Centers)
Independently Owed (Product Development Organizations)
Promotio
42. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Minor Fashion Industries (Global Fashion Centers)
Paris (Global Fashion Centers)
Sources of Information (Retail Merchandising)
Broad-based Business Consulting Services
43. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Lower prices
Product Development
Terms to be Negotiated (Buying)
Shortage (Dollar Merchandise Plan)
44. Most aware of what is selling (bias)
Elements of Dollar Merchandize Plan
Business Consultant's Services
Store within a Store
Vendors (Sources)
45. 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
Market Research (Sources)
Wholesale Warehouse Clubs (Specialty)
Merchandise/Promotional (Advertising)
46. Menswear
Regional Marts
London (Global Fashion Centers)
OB
Personal Shopper
47. Small specialized store of a department store
Department Store (Characteristics)
Twig (Classifications; Department Store)
Trade Publications (Sources)
Catalog/Mail Order (Non-store Retai
48. Focuses on management and market research
In-store Success (Sources
Management Consultants (Consulting Services)
DMM (Merchandising; Retail Store
Sources of Information (Retail Merchandising)
49. Conduct own research
Trade Associations (Sources)
Private Label
Open-to-buy (Dollar Merchandise Plan)
Market Research (Sources)
50. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Paths for Buyers
Factory Outlet (Specialty)
Two basic kinds of ratail advertising