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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. Quantity of different items offered
In-store Boutique
Turnover (Dollar Merchandise Plan)
De
Reporting Services (Sources)
2. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandise Assortment Planning
Trade Associations (Sources)
Wholesale Warehouse Clubs (Specialty)
Milan (Global Fashion Centers)
3. People who shop for clients
Trade Associations (Sources)
Paths for Buyers
Franchise
Personal Shopper
4. 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
OB
Factors in Selecting a Resource (Buying
Elements of Dollar Merchandize Plan
5. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Independently Owed (Product Development Organizations)
Buyer (Retail Merchandising)
Franchise
Hypermarkets (Specialty
6. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Merchandisi
Image (Promotion)
Store Owned Organizations (Product Development Organizations
Open-to-buy (Dollar Merchandise Plan)
7. Image Merchandise/promotional -advertising agencies bid for client accounts
Two basic kinds of ratail advertising
Shortage (Dollar Merchandise Plan)
Store Owner (Path for Buyers)
Tokyo (Global Fashion Centers
8. Italian fashion - Knits - Shoes - Menswear
Branch (Classifications; Department Store
Specialized Store Buyer (Path for Buyers)
Store Owner (Path for Buyers)
Milan (Global Fashion Centers)
9. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Chain Store
Merchandise/Promotional (Advertising)
Dollar Merchandise Plan
Overbought
10. Regional center for bridal - evening wear
Shopping the Stores (Sources)
Direct Selling (Non-store Retailing)
Breadt
Dallas
11. Responsible for several areas
Advertising
DMM (Merchandising; Retail Store
Broad-based Business Consulting Services
Paths for Buyers
12. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Off-Price Store (Specialty)
Trade Publications (Sources)
Store Owned Organizations (Product Development Organizations
Independently Owed (Product Development Organizations)
13. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
DMM (Merchandising; Retail Store
Catalog/Mail Order (Non-store Retai
Open-to-buy (Dollar Merchandise Plan)
Central Buyer (Path for Buyers)
14. Germany - Spain - Eastern Block
Twig (Classifications; Department Store)
Branch (Classifications; Department Store
Minor Fashion Industries (Global Fashion Centers)
Buyer (Retail Merchandising)
15. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Using Resident Buying Offices (Sources)
Store Ownership Group
Product Development
Paris (Global Fashion Centers)
16. When merchandise (inventory and ordered) is GREATER than need
Dallas
Market
Direct Selling (Non-store Retailing)
Overbought
17. Compare what is available from the competition
Tokyo (Global Fashion Centers
Sources of Information (Retail Merchandising)
Stylist
Shopping the Stores (Sources)
18. Focus specifically on product
New York (Market Centers)
Hypermarkets (Specialty
Merchandise/Promotional (Advertising)
Trade Associations (Sources)
19. Manufacturers Attend Market to...
Catalog Showroom (Specialty)
DMM (Merchandising; Retail Store
Breadt
Look at offerings and need out and refine their line
20. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Limitations of regional marts
Chain Store
Two basic kinds of ratail advertising
Central Buyer (Path for Buyers)
21. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Discount Store (Specialty)
Breadt
Elements of Dollar Merchandize Plan
Milan (Global Fashion Centers)
22. Pay a fee for what are supposed to be wholesale prices
Catalog/Mail Order (Non-store Retai
Paris (Global Fashion Centers)
Product Development
Wholesale Warehouse Clubs (Specialty)
23. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Factory Outlet (Specialty)
Two basic kinds of ratail advertising
Shortage (Dollar Merchandise Plan)
Elements of Dollar Merchandize Plan
24. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Paris (Global Fashion Centers)
Advertising
Market Wee
25. Located in market
Direct Selling (Non-store Retailing)
Using Resident Buying Offices (Sources)
New York (Market Centers)
Branch (Classifications; Department Store
26. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Costume Designe
Sources of Merchandise (Buying)
Elements of Dollar Merchandize Plan
Franchise
27. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Elements of Dollar Merchandize Plan
Sources of Information (Retail Merchandising)
Central Buyer (Path for Buyers)
Overbought
28. Sourcing - Logistics related to - importing - Managing information systems
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29. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Business Consultant's Services
Advertising
Using Resident Buying Offices (Sources)
Image (Advertising)
30. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Gross Margin Percentage (Dollar Merchandise Plan)
Chain Store
Two basic kinds of ratail advertising
Look at offerings and need out and refine their line
31. Small specialized store of a department store
GMM (Merchandising; Retail Stores)
Twig (Classifications; Department Store)
Flagship (Classifications; Department Store)
Paths for Buyers
32. Menswear
London (Global Fashion Centers)
Catalog Showroom (Specialty)
Shopping the Stores (Sources)
Merchandise/Promotional (Advertising)
33. Focuses on management and market research
Central Buyer (Path for Buyers)
Management Consultants (Consulting Services)
Discount Store (Specialty)
Off-Price Store (Specialty)
34. Sales records - Sales people
Buyer (Retail Merchandising)
Elements of Dollar Merchandize Plan
Open-to-buy (Dollar Merchandise Plan)
In-store Success (Sources
35. Buying - selling - and planning of merchandise
Merchandisi
Store Owner (Path for Buyers)
Trade Associations (Sources)
Regional Marts
36. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Twig (Classifications; Department Store)
Specialty Store
Terms to be Negotiated (Buying)
Market
37. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Stylist
Elements of Dollar Merchandize Plan
Electronic Retailing (Non-store Retailing)
Catalog/Mail Order (Non-store Retai
38. 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
In-store Success (Sources
Flagship (Classifications; Department Store)
Factors in Selecting a Resource (Buying
39. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Elements of Dollar Merchandize Plan
Stylist
Department Store (Characteristics)
Merchandise/Promotional (Advertising)
40. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Specialty Store
Publicity
Flagship (Classifications; Department Store)
London (Global Fashion Centers)
41. Chain
Central Buyer (Path for Buyers)
Limitations of regional marts
Factory Outlet (Specialty)
Catalog Showroom (Specialty)
42. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Minor Fashion Industries (Global Fashion Centers)
Shopping the Stores (Sources)
Product Development
Lower prices
43. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Shortage (Dollar Merchandise Plan)
Factors to be Considered in Editing (Buying)
Private Label
Business Consultant's Services
44. Television or computer shopping
Department Store (Characteristics)
Variety Store (Specialty)
Breadt
Electronic Retailing (Non-store Retailing)
45. Mass - staples
Tokyo (Global Fashion Centers
Business Consultant's Services
Specialty Store
Shopping the Stores (Sources)
46. Door-to-door or house parties
Direct Selling (Non-store Retailing)
Resident Buyer (Path for Buyers)
Dollar Merchandise Plan
Chain Store
47. 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
Business Consultant's Services
Store within a Store
Tokyo (Global Fashion Centers
48. Larger orders may allow for...
Independently Owed (Product Development Organizations)
Regional Marts
Lower prices
Confined merchandis
49. Selling responsibilities
Specialized Store Buyer (Path for Buyers)
Store Owner (Path for Buyers)
Central Buyer (Path for Buyers)
Off-Price Store (Specialty)
50. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
In-store Success (Sources
Business Consultant's Services
Specialized Store Buyer (Path for Buyers)
Hypermarkets (Specialty