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Test your basic knowledge |
Fashion Merchandizing
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Subjects
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business-skills
,
industries
Instructions:
Answer 50 questions in 15 minutes.
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study here
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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. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Advertising
Factors to be Considered in Editing (Buying)
Stylist
De
2. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
GMM (Merchandising; Retail Stores)
Trade Associations (Sources)
Broad-based Business Consulting Services
Catalog/Mail Order (Non-store Retai
3. Buying - selling - and planning of merchandise
Publicity
Management Consultants (Consulting Services)
Factors in Selecting a Resource (Buying
Merchandisi
4. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Minor Fashion Industries (Global Fashion Centers)
Trade Publications (Sources)
Department Store (Characteristics)
Dollar Merchandise Plan
5. Mass - staples
Buyers Attend Market
Store Owned Organizations (Product Development Organizations
Milan (Global Fashion Centers)
Tokyo (Global Fashion Centers
6. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Independently owned services
Sources of Information (Retail Merchandising)
Merchandisi
Store Ownership Group
7. Regional center for bridal - evening wear
Reporting Services (Sources)
Dallas
Minor Fashion Industries (Global Fashion Centers)
Independently owned services
8. Small operation
Variety Store (Specialty)
Store Owner (Path for Buyers)
Gross Margin Percentage (Dollar Merchandise Plan)
Management Consultants (Consulting Services)
9. Most aware of what is selling (bias)
Private Label
Paths for Buyers
Vendors (Sources)
Tokyo (Global Fashion Centers
10. Ads; focuses on business itself
Image (Advertising)
In-store Boutique
Off-Price Store (Specialty)
Central Buyer (Path for Buyers)
11. Specialize in brand and designer name clothing at discounted prices
Off-Price Store (Specialty)
New York (Market Centers)
Shortage (Dollar Merchandise Plan)
DMM (Merchandising; Retail Store
12. Chain
Variety Store (Specialty)
Sources of Information (Retail Merchandising)
Minor Fashion Industries (Global Fashion Centers)
Central Buyer (Path for Buyers)
13. Number of different items offered
Breadt
Wholesale Warehouse Clubs (Specialty)
Look at offerings and need out and refine their line
Trade Publications (Sources)
14. Variety of low priced merchandise
Vendors (Sources)
Using Resident Buying Offices (Sources)
Variety Store (Specialty)
Paths for Buyers
15. Pay a fee for what are supposed to be wholesale prices
Independently owned services
Tokyo (Global Fashion Centers
Using Resident Buying Offices (Sources)
Wholesale Warehouse Clubs (Specialty)
16. Shoplifting - internal theft - inaccurate records
Elements of Dollar Merchandize Plan
Image (Advertising)
Shortage (Dollar Merchandise Plan)
Twig (Classifications; Department Store)
17. Compare what is available from the competition
Shopping the Stores (Sources)
Paris (Global Fashion Centers)
Resident Buyer (Path for Buyers)
Broad-based Business Consulting Services
18. Quantity of different items offered
Regional Marts
Shopping the Stores (Sources)
De
Two basic kinds of ratail advertising
19. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Market Research (Sources)
Discount Store (Specialty)
Franchise
Look at offerings and need out and refine their line
20. Market area - Assists specialized (central) buyer
Advertising
Look at offerings and need out and refine their line
Resident Buyer (Path for Buyers)
DMM (Merchandising; Retail Store
21. Merchandising offerings - Appropriate for customers
Dollar Merchandise Plan
Publicity
Factors in Selecting a Resource (Buying
Overbought
22. 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
Off-Price Store (Specialty)
Discount Store (Specialty)
In-store Boutique
23. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Independently Owed (Product Development Organizations)
Costume Designe
Store Ownership Group
Paths for Buyers
24. Menswear
London (Global Fashion Centers)
Department Store (Characteristics)
GMM (Merchandising; Retail Stores)
Dollar Merchandise Plan
25. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Open-to-buy (Dollar Merchandise Plan)
Independently Owed (Product Development Organizations)
Overbought
Turnover (Dollar Merchandise Plan)
26. Larger orders may allow for...
Personal Shopper
Lower prices
Catalog/Mail Order (Non-store Retai
London (Global Fashion Centers)
27. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Buyer (Merchandising; Retail Stores)
Electronic Retailing (Non-store Retailing)
Store within a Store
In-store Success (Sources
28. Cotton Inc. - Wool Bureau
Trade Associations (Sources)
Twig (Classifications; Department Store)
Sources of Merchandise (Buying)
Merchandise/Promotional (Advertising)
29. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Sources of Merchandise (Buying)
Terms to be Negotiated (Buying)
Look at offerings and need out and refine their line
Business Consultant's Services
30. 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
Personal Shopper
Regional Marts
In-store Boutique
Flagship (Classifications; Department Store)
31. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Overbought
Specialty Store
Direct Selling (Non-store Retailing)
Resident Buyer (Path for Buyers)
32. Focuses on the business itself
Catalog/Mail Order (Non-store Retai
Image (Promotion)
Confined merchandis
Using Resident Buying Offices (Sources)
33. WWD - DNR - stores (consumer fashion magazines)
Chain Store
Trade Publications (Sources)
In-store Boutique
London (Global Fashion Centers)
34. Where store execs are housed
Merchandise/Promotional (Advertising)
Broad-based Business Consulting Services
Flagship (Classifications; Department Store)
Los Angeles
35. Italian fashion - Knits - Shoes - Menswear
Wholesale Warehouse Clubs (Specialty)
Resident Buyer
Milan (Global Fashion Centers)
Reporting Services (Sources)
36. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Merchandisi
Lower prices
Sources of Information (Retail Merchandising)
Store Owned Organizations (Product Development Organizations
37. Focus specifically on product
Independently owned services
Confined merchandis
Wholesale Warehouse Clubs (Specialty)
Merchandise/Promotional (Advertising)
38. Typically 6 months prior to season
Business Consultant's Services
Market Wee
Publicity
Broad-based Business Consulting Services
39. Selling responsibilities
Look at offerings and need out and refine their line
Product Development
Branch (Classifications; Department Store
Specialized Store Buyer (Path for Buyers)
40. Responsible for establishing the store's image
In-store Boutique
Publicity
Some samples may never be mass produced
GMM (Merchandising; Retail Stores)
41. Small specialized store of a department store
Twig (Classifications; Department Store)
Store Owner (Path for Buyers)
Sources of Information (Retail Merchandising)
OB
42. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Merchandise/Promotional (Advertising)
Shopping the Stores (Sources)
Vendors (Sources)
Advertising
43. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Product Development
Confined merchandis
Buyers Attend Market
Merchandise Assortment Planning
44. Conduct own research
Market Research (Sources)
Sources of Merchandise (Buying)
Dallas
Flagship (Classifications; Department Store)
45. Focuses on management and market research
Store within a Store
Paris (Global Fashion Centers)
Image (Advertising)
Management Consultants (Consulting Services)
46. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Electronic Retailing (Non-store Retailing)
Variety Store (Specialty)
Factory Outlet (Specialty)
Confined merchandis
47. Germany - Spain - Eastern Block
Minor Fashion Industries (Global Fashion Centers)
Overbought
Breadt
Private Label
48. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Advertising
Look at offerings and need out and refine their line
Gross Margin Percentage (Dollar Merchandise Plan)
Elements of Dollar Merchandize Plan
49. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Factors in Selecting a Resource (Buying
Sources of Merchandise (Buying)
Independently owned services
Catalog/Mail Order (Non-store Retai
50. Store open another facility in a different location - often in suburbs
Stylist
Branch (Classifications; Department Store
Flagship (Classifications; Department Store)
Merchandise Assortment Planning
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