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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. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Specialty Store
Management Consultants (Consulting Services)
Regional Marts
Gross Margin Percentage (Dollar Merchandise Plan)
2. Current information on trends
Store Owned Organizations (Product Development Organizations
Using Resident Buying Offices (Sources)
Reporting Services (Sources)
Paths for Buyers
3. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Broad-based Business Consulting Services
Sources of Merchandise (Buying)
New York (Market Centers)
Resident Buyer (Path for Buyers)
4. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Sources of Merchandise (Buying)
Independently Owed (Product Development Organizations)
New York (Market Centers)
Specialty Store
5. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
DMM (Merchandising; Retail Store
Promotio
Trade Publications (Sources)
Store Ownership Group
6. Management consultants - Technical consultants - Import and export consultants
Trade Associations (Sources)
Broad-based Business Consulting Services
Resident Buyer
New York (Market Centers)
7. Germany - Spain - Eastern Block
Market
Paths for Buyers
Minor Fashion Industries (Global Fashion Centers)
Specialty Store
8. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Discount Store (Specialty)
Merchandise Assortment Planning
De
Resident Buyer
9. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Store Owned Organizations (Product Development Organizations
Factors to be Considered in Editing (Buying)
Promotio
Factory Outlet (Specialty)
10. Focuses on a particular item or product
Product Development
Shortage (Dollar Merchandise Plan)
Promotio
Gross Margin Percentage (Dollar Merchandise Plan)
11. Responsible for several areas
Costume Designe
Store Ownership Group
Store within a Store
DMM (Merchandising; Retail Store
12. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Store Owner (Path for Buyers)
Factors in Selecting a Resource (Buying
Using Resident Buying Offices (Sources)
Franchise
13. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Shortage (Dollar Merchandise Plan)
Breadt
Department Store (Characteristics)
Store Owned Organizations (Product Development Organizations
14. Store open another facility in a different location - often in suburbs
Minor Fashion Industries (Global Fashion Centers)
Branch (Classifications; Department Store
Market Research (Sources)
Store Owner (Path for Buyers)
15. Conduct own research
Business Consultant's Services
Resident Buyer (Path for Buyers)
Stylist
Market Research (Sources)
16. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Variety Store (Specialty)
Paths for Buyers
Management Consultants (Consulting Services)
Open-to-buy (Dollar Merchandise Plan)
17. Not paid for by the retailer and the retailer doesn't have control over what is said
Paths for Buyers
Image (Promotion)
Gross Margin Percentage (Dollar Merchandise Plan)
Publicity
18. Store's own label for career and casual sportswear; prices vary (better to moderate)
Store Ownership Group
Variety Store (Specialty)
Private Label
Merchandise Assortment Planning
19. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
New York (Market Centers)
Merchandisi
Catalog/Mail Order (Non-store Retai
GMM (Merchandising; Retail Stores)
20. Mass - staples
Image (Advertising)
Tokyo (Global Fashion Centers
London (Global Fashion Centers)
Business Consultant's Services
21. 2nd largest leasing space available
Specialized Store Buyer (Path for Buyers)
Flagship (Classifications; Department Store)
Los Angeles
Broad-based Business Consulting Services
22. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Product Development
Confined merchandis
London (Global Fashion Centers)
Terms to be Negotiated (Buying)
23. Specialize in brand and designer name clothing at discounted prices
Specialty Store
Factory Outlet (Specialty)
Off-Price Store (Specialty)
Hypermarkets (Specialty
24. Image Merchandise/promotional -advertising agencies bid for client accounts
Sources of Merchandise (Buying)
Two basic kinds of ratail advertising
Store Owned Organizations (Product Development Organizations
Factors to be Considered in Editing (Buying)
25. Buying - selling - and planning of merchandise
Paris (Global Fashion Centers)
Merchandisi
Private Label
Open-to-buy (Dollar Merchandise Plan)
26. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Store Owned Organizations (Product Development Organizations
Franchise
Sources of Information (Retail Merchandising)
Minor Fashion Industries (Global Fashion Centers)
27. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Image (Advertising)
Advertising
Limitations of regional marts
Resident Buyer (Path for Buyers)
28. Small area within a store for designers or popular manufacturers
In-store Boutique
Milan (Global Fashion Centers)
Trade Publications (Sources)
London (Global Fashion Centers)
29. Selling responsibilities
Breadt
Publicity
Specialized Store Buyer (Path for Buyers)
Chain Store
30. Focuses on the business itself
Catalog Showroom (Specialty)
Image (Promotion)
Department Store (Characteristics)
Variety Store (Specialty)
31. Merchandising - Buying - Product Development Organizations
Milan (Global Fashion Centers)
Central Buyer (Path for Buyers)
Trade Publications (Sources)
Independently owned services
32. Merchandising offerings - Appropriate for customers
Specialized Store Buyer (Path for Buyers)
Merchandisi
Factors in Selecting a Resource (Buying
Franchise
33. Television or computer shopping
De
Electronic Retailing (Non-store Retailing)
Personal Shopper
Catalog Showroom (Specialty)
34. Store owner - Specialized store buyer - Central buyer - Resident buyer
Central Buyer (Path for Buyers)
Market Research (Sources)
Paths for Buyers
Department Store (Characteristics)
35. 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
Dallas
Some samples may never be mass produced
Merchandise/Promotional (Advertising)
Factors to be Considered in Editing (Buying)
36. Ads; focuses on business itself
Wholesale Warehouse Clubs (Specialty)
Los Angeles
Dallas
Image (Advertising)
37. Compare what is available from the competition
Merchandise Assortment Planning
Shopping the Stores (Sources)
Branch (Classifications; Department Store
Wholesale Warehouse Clubs (Specialty)
38. 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
Market Wee
Business Consultant's Services
Private Label
39. Door-to-door or house parties
Direct Selling (Non-store Retailing)
Confined merchandis
Paris (Global Fashion Centers)
Stylist
40. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Trade Associations (Sources)
Gross Margin Percentage (Dollar Merchandise Plan)
Store within a Store
Wholesale Warehouse Clubs (Specialty)
41. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Independently owned services
Image (Advertising)
Dollar Merchandise Plan
Turnover (Dollar Merchandise Plan)
42. 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
Minor Fashion Industries (Global Fashion Centers)
Buyers Attend Market
Merchandise Assortment Planning
Central Buyer (Path for Buyers)
43. People who shop for clients
Store Owner (Path for Buyers)
Factors to be Considered in Editing (Buying)
Personal Shopper
Resident Buyer
44. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Image (Promotion)
Two basic kinds of ratail advertising
Merchandisi
Turnover (Dollar Merchandise Plan)
45. Typically 6 months prior to season
Open-to-buy (Dollar Merchandise Plan)
Market Wee
Sources of Merchandise (Buying)
Image (Promotion)
46. Cotton Inc. - Wool Bureau
Trade Associations (Sources)
Independently Owed (Product Development Organizations)
Paths for Buyers
Electronic Retailing (Non-store Retailing)
47. When merchandise (inventory and ordered) is GREATER than need
Terms to be Negotiated (Buying)
Buyer (Merchandising; Retail Stores)
In-store Success (Sources
Overbought
48. Where store execs are housed
Look at offerings and need out and refine their line
Flagship (Classifications; Department Store)
Factors to be Considered in Editing (Buying)
Buyer (Retail Merchandising)
49. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Department Store (Characteristics)
Minor Fashion Industries (Global Fashion Centers)
Elements of Dollar Merchandize Plan
Using Resident Buying Offices (Sources)
50. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Two basic kinds of ratail advertising
DMM (Merchandising; Retail Store
New York (Market Centers)
Market Wee