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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. 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
Branch (Classifications; Department Store
Buyers Attend Market
Merchandise Assortment Planning
Gross Margin Percentage (Dollar Merchandise Plan)
2. Where store execs are housed
London (Global Fashion Centers)
Hypermarkets (Specialty
Flagship (Classifications; Department Store)
Sources of Merchandise (Buying)
3. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Dallas
De
Costume Designe
Buyer (Retail Merchandising)
4. Cotton Inc. - Wool Bureau
Shortage (Dollar Merchandise Plan)
Confined merchandis
Personal Shopper
Trade Associations (Sources)
5. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Lower prices
In-store Success (Sources
Limitations of regional marts
Elements of Dollar Merchandize Plan
6. Television or computer shopping
Market Wee
Electronic Retailing (Non-store Retailing)
Store within a Store
GMM (Merchandising; Retail Stores)
7. Manufacturers Attend Market to...
Factors in Selecting a Resource (Buying
Look at offerings and need out and refine their line
Resident Buyer
In-store Boutique
8. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Market
Sources of Information (Retail Merchandising)
Two basic kinds of ratail advertising
Paths for Buyers
9. Screens the market for the store buyer (represents the buyer) - Group buying- allows for lower prices due to volume buying - Assist with private label- product development sourcing - Assist with foreign buying
Resident Buyer
De
Reporting Services (Sources)
In-store Boutique
10. Chain
Central Buyer (Path for Buyers)
Minor Fashion Industries (Global Fashion Centers)
Market Wee
Resident Buyer (Path for Buyers)
11. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Minor Fashion Industries (Global Fashion Centers)
In-store Boutique
Store Ownership Group
Independently Owed (Product Development Organizations)
12. Small specialized store of a department store
Two basic kinds of ratail advertising
Twig (Classifications; Department Store)
Buyer (Retail Merchandising)
Business Consultant's Services
13. Focus specifically on product
Specialty Store
Buyers Attend Market
Open-to-buy (Dollar Merchandise Plan)
Merchandise/Promotional (Advertising)
14. WWD - DNR - stores (consumer fashion magazines)
Publicity
Vendors (Sources)
Trade Publications (Sources)
Variety Store (Specialty)
15. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Specialty Store
Regional Marts
Merchandise/Promotional (Advertising)
Lower prices
16. Specialize in brand and designer name clothing at discounted prices
Confined merchandis
Off-Price Store (Specialty)
Costume Designe
Twig (Classifications; Department Store)
17. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Independently owned services
Catalog/Mail Order (Non-store Retai
Factory Outlet (Specialty)
OB
18. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Resident Buyer
Resident Buyer (Path for Buyers)
DMM (Merchandising; Retail Store
Hypermarkets (Specialty
19. Responsible for a department/area
Buyer (Merchandising; Retail Stores)
Store Ownership Group
Breadt
Promotio
20. Conduct own research
Management Consultants (Consulting Services)
DMM (Merchandising; Retail Store
Sources of Merchandise (Buying)
Market Research (Sources)
21. Develops clothing for actors in plays - movies - and television
Branch (Classifications; Department Store
Management Consultants (Consulting Services)
Costume Designe
Factors in Selecting a Resource (Buying
22. Image Merchandise/promotional -advertising agencies bid for client accounts
Merchandise/Promotional (Advertising)
Resident Buyer
Two basic kinds of ratail advertising
Business Consultant's Services
23. Merchandising - Buying - Product Development Organizations
Independently owned services
Reporting Services (Sources)
Department Store (Characteristics)
Sources of Merchandise (Buying)
24. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Regional Marts
Limitations of regional marts
Merchandise Assortment Planning
Sources of Merchandise (Buying)
25. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Sources of Merchandise (Buying)
Variety Store (Specialty)
Off-Price Store (Specialty)
Specialty Store
26. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Factors in Selecting a Resource (Buying
Overbought
Advertising
Buyer (Merchandising; Retail Stores)
27. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Two basic kinds of ratail advertising
Central Buyer (Path for Buyers)
Market Research (Sources)
Confined merchandis
28. Buying - selling - and planning of merchandise
Paths for Buyers
Merchandisi
Market Wee
DMM (Merchandising; Retail Store
29. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Market
Shortage (Dollar Merchandise Plan)
Dallas
Catalog/Mail Order (Non-store Retai
30. Management consultants - Technical consultants - Import and export consultants
Dallas
Paris (Global Fashion Centers)
Los Angeles
Broad-based Business Consulting Services
31. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Department Store (Characteristics)
Management Consultants (Consulting Services)
Twig (Classifications; Department Store)
GMM (Merchandising; Retail Stores)
32. Most aware of what is selling (bias)
Vendors (Sources)
Elements of Dollar Merchandize Plan
Business Consultant's Services
Flagship (Classifications; Department Store)
33. Small area within a store for designers or popular manufacturers
Costume Designe
Independently Owed (Product Development Organizations)
In-store Boutique
Resident Buyer
34. Pay a fee for what are supposed to be wholesale prices
Wholesale Warehouse Clubs (Specialty)
Sources of Information (Retail Merchandising)
Open-to-buy (Dollar Merchandise Plan)
Factors in Selecting a Resource (Buying
35. Number of different items offered
Market Wee
Merchandise/Promotional (Advertising)
Breadt
Buyers Attend Market
36. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Open-to-buy (Dollar Merchandise Plan)
Franchise
Two basic kinds of ratail advertising
Discount Store (Specialty)
37. Ads; focuses on business itself
Publicity
Image (Advertising)
In-store Boutique
Store within a Store
38. Large number of resources centered in 7th Avenue area - Largest and most important domestically
New York (Market Centers)
Open-to-buy (Dollar Merchandise Plan)
Independently owned services
Catalog Showroom (Specialty)
39. Regional center for bridal - evening wear
Regional Marts
Dallas
Sources of Merchandise (Buying)
Factors in Selecting a Resource (Buying
40. Door-to-door or house parties
Sources of Information (Retail Merchandising)
Using Resident Buying Offices (Sources)
Limitations of regional marts
Direct Selling (Non-store Retailing)
41. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Promotio
Open-to-buy (Dollar Merchandise Plan)
Twig (Classifications; Department Store)
Some samples may never be mass produced
42. Shoplifting - internal theft - inaccurate records
Management Consultants (Consulting Services)
Trade Associations (Sources)
Vendors (Sources)
Shortage (Dollar Merchandise Plan)
43. 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
Factory Outlet (Specialty)
Gross Margin Percentage (Dollar Merchandise Plan)
Some samples may never be mass produced
Franchise
44. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Publicity
Turnover (Dollar Merchandise Plan)
Catalog Showroom (Specialty)
Sources of Merchandise (Buying)
45. Quantity of different items offered
Flagship (Classifications; Department Store)
De
Elements of Dollar Merchandize Plan
Dallas
46. Located in market
New York (Market Centers)
Chain Store
Using Resident Buying Offices (Sources)
Dollar Merchandise Plan
47. Market area - Assists specialized (central) buyer
Market
Resident Buyer (Path for Buyers)
Buyers Attend Market
Factors to be Considered in Editing (Buying)
48. Mass - staples
Sources of Information (Retail Merchandising)
Tokyo (Global Fashion Centers
Paris (Global Fashion Centers)
Advertising
49. Not paid for by the retailer and the retailer doesn't have control over what is said
Regional Marts
Independently owned services
Publicity
Tokyo (Global Fashion Centers
50. Germany - Spain - Eastern Block
Minor Fashion Industries (Global Fashion Centers)
Off-Price Store (Specialty)
Los Angeles
Tokyo (Global Fashion Centers