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Test your basic knowledge |
Fashion Merchandizing
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Subjects
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business-skills
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industries
Instructions:
Answer 50 questions in 15 minutes.
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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. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Reporting Services (Sources)
Management Consultants (Consulting Services)
Product Development
Store Ownership Group
2. Menswear
Some samples may never be mass produced
Independently owned services
London (Global Fashion Centers)
DMM (Merchandising; Retail Store
3. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Two basic kinds of ratail advertising
Store Owned Organizations (Product Development Organizations
Merchandisi
Hypermarkets (Specialty
4. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Turnover (Dollar Merchandise Plan)
Central Buyer (Path for Buyers)
Specialty Store
Store within a Store
5. 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
Buyers Attend Market
Trade Associations (Sources)
Paths for Buyers
Vendors (Sources)
6. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Paris (Global Fashion Centers)
Buyer (Merchandising; Retail Stores)
New York (Market Centers)
Chain Store
7. Market area - Assists specialized (central) buyer
Factors to be Considered in Editing (Buying)
Image (Promotion)
Resident Buyer (Path for Buyers)
Paris (Global Fashion Centers)
8. Small operation
Market Wee
Store Owner (Path for Buyers)
Two basic kinds of ratail advertising
Department Store (Characteristics)
9. Image Merchandise/promotional -advertising agencies bid for client accounts
Broad-based Business Consulting Services
Flagship (Classifications; Department Store)
Two basic kinds of ratail advertising
Limitations of regional marts
10. Responsible for several areas
Elements of Dollar Merchandize Plan
Broad-based Business Consulting Services
Some samples may never be mass produced
DMM (Merchandising; Retail Store
11. Italian fashion - Knits - Shoes - Menswear
Catalog/Mail Order (Non-store Retai
Milan (Global Fashion Centers)
Regional Marts
Store Owned Organizations (Product Development Organizations
12. Number of different items offered
Store Owner (Path for Buyers)
Business Consultant's Services
Breadt
Catalog/Mail Order (Non-store Retai
13. Sourcing - Logistics related to - importing - Managing information systems
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14. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Management Consultants (Consulting Services)
Buyer (Retail Merchandising)
De
Store Owned Organizations (Product Development Organizations
15. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Sources of Merchandise (Buying)
Hypermarkets (Specialty
Shortage (Dollar Merchandise Plan)
Chain Store
16. Manufacturers Attend Market to...
Branch (Classifications; Department Store
Hypermarkets (Specialty
Market Research (Sources)
Look at offerings and need out and refine their line
17. Where store execs are housed
Off-Price Store (Specialty)
Factors in Selecting a Resource (Buying
Flagship (Classifications; Department Store)
Factors to be Considered in Editing (Buying)
18. Management consultants - Technical consultants - Import and export consultants
Two basic kinds of ratail advertising
Broad-based Business Consulting Services
Private Label
Limitations of regional marts
19. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Wholesale Warehouse Clubs (Specialty)
Overbought
Confined merchandis
Using Resident Buying Offices (Sources)
20. Ads; focuses on business itself
Turnover (Dollar Merchandise Plan)
Some samples may never be mass produced
Image (Advertising)
Regional Marts
21. Conduct own research
Some samples may never be mass produced
Market Research (Sources)
Publicity
Dallas
22. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
OB
Publicity
Store Owner (Path for Buyers)
Factory Outlet (Specialty)
23. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Image (Advertising)
Sources of Merchandise (Buying)
Catalog/Mail Order (Non-store Retai
Trade Associations (Sources)
24. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Independently owned services
Sources of Merchandise (Buying)
Look at offerings and need out and refine their line
Store Ownership Group
25. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Store Ownership Group
Market Research (Sources)
Terms to be Negotiated (Buying)
Stylist
26. Regional center for bridal - evening wear
Factory Outlet (Specialty)
OB
Dallas
Personal Shopper
27. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Terms to be Negotiated (Buying)
Wholesale Warehouse Clubs (Specialty)
Trade Associations (Sources)
Discount Store (Specialty)
28. Merchandising - Buying - Product Development Organizations
Paris (Global Fashion Centers)
Shortage (Dollar Merchandise Plan)
London (Global Fashion Centers)
Independently owned services
29. Focuses on the business itself
Image (Promotion)
Limitations of regional marts
Franchise
Independently owned services
30. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Factors in Selecting a Resource (Buying
Specialized Store Buyer (Path for Buyers)
Store within a Store
Turnover (Dollar Merchandise Plan)
31. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Variety Store (Specialty)
Limitations of regional marts
Sources of Information (Retail Merchandising)
Tokyo (Global Fashion Centers
32. 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
Flagship (Classifications; Department Store)
Resident Buyer (Path for Buyers)
Factors to be Considered in Editing (Buying)
Regional Marts
33. Variety of low priced merchandise
Variety Store (Specialty)
Two basic kinds of ratail advertising
Merchandisi
GMM (Merchandising; Retail Stores)
34. 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
Open-to-buy (Dollar Merchandise Plan)
Sources of Merchandise (Buying)
35. Net sales- total merchandise costs (Allow for overhead taxes and profit)
New York (Market Centers)
Gross Margin Percentage (Dollar Merchandise Plan)
Resident Buyer (Path for Buyers)
Market Research (Sources)
36. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Using Resident Buying Offices (Sources)
Market
Sources of Merchandise (Buying)
Breadt
37. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Product Development
Franchise
Shortage (Dollar Merchandise Plan)
Store within a Store
38. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
DMM (Merchandising; Retail Store
Market
Advertising
Store Ownership Group
39. 2nd largest leasing space available
Los Angeles
Market Wee
In-store Boutique
DMM (Merchandising; Retail Store
40. Store open another facility in a different location - often in suburbs
DMM (Merchandising; Retail Store
Direct Selling (Non-store Retailing)
Gross Margin Percentage (Dollar Merchandise Plan)
Branch (Classifications; Department Store
41. Store's own label for career and casual sportswear; prices vary (better to moderate)
Wholesale Warehouse Clubs (Specialty)
Market Research (Sources)
Private Label
Paris (Global Fashion Centers)
42. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Factors to be Considered in Editing (Buying)
Elements of Dollar Merchandize Plan
Store within a Store
Twig (Classifications; Department Store)
43. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Buyers Attend Market
Catalog Showroom (Specialty)
Paris (Global Fashion Centers)
Paths for Buyers
44. Small area within a store for designers or popular manufacturers
Shortage (Dollar Merchandise Plan)
Store Owned Organizations (Product Development Organizations
Factors to be Considered in Editing (Buying)
In-store Boutique
45. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Specialized Store Buyer (Path for Buyers)
Elements of Dollar Merchandize Plan
Market
Buyer (Retail Merchandising)
46. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Hypermarkets (Specialty
In-store Boutique
Buyer (Merchandising; Retail Stores)
Dollar Merchandise Plan
47. Order from catalog and pick up immediately
Discount Store (Specialty)
Hypermarkets (Specialty
Terms to be Negotiated (Buying)
Catalog Showroom (Specialty)
48. Compare what is available from the competition
Gross Margin Percentage (Dollar Merchandise Plan)
Factory Outlet (Specialty)
London (Global Fashion Centers)
Shopping the Stores (Sources)
49. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Terms to be Negotiated (Buying)
Merchandise Assortment Planning
Publicity
50. Focuses on a particular item or product
Broad-based Business Consulting Services
Tokyo (Global Fashion Centers
Independently owned services
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