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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. Compare what is available from the competition
Shopping the Stores (Sources)
Sources of Merchandise (Buying)
Reporting Services (Sources)
Open-to-buy (Dollar Merchandise Plan)
2. Merchandising offerings - Appropriate for customers
Buyer (Merchandising; Retail Stores)
Two basic kinds of ratail advertising
Resident Buyer (Path for Buyers)
Factors in Selecting a Resource (Buying
3. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
OB
Image (Advertising)
Store Ownership Group
New York (Market Centers)
4. 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
Store Owned Organizations (Product Development Organizations
Paris (Global Fashion Centers)
De
5. Responsible for a department/area
Buyer (Merchandising; Retail Stores)
Factors in Selecting a Resource (Buying
Two basic kinds of ratail advertising
Twig (Classifications; Department Store)
6. Number of different items offered
Breadt
Gross Margin Percentage (Dollar Merchandise Plan)
Catalog/Mail Order (Non-store Retai
Merchandise/Promotional (Advertising)
7. Focuses on management and market research
Resident Buyer
Factory Outlet (Specialty)
Management Consultants (Consulting Services)
Factors to be Considered in Editing (Buying)
8. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Using Resident Buying Offices (Sources)
Buyer (Retail Merchandising)
Personal Shopper
Limitations of regional marts
9. Located in market
In-store Success (Sources
Using Resident Buying Offices (Sources)
Merchandise/Promotional (Advertising)
Market
10. 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
New York (Market Centers)
Minor Fashion Industries (Global Fashion Centers)
Market
Some samples may never be mass produced
11. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Specialty Store
Catalog/Mail Order (Non-store Retai
Elements of Dollar Merchandize Plan
Costume Designe
12. Image Merchandise/promotional -advertising agencies bid for client accounts
Two basic kinds of ratail advertising
Product Development
Milan (Global Fashion Centers)
Resident Buyer (Path for Buyers)
13. Italian fashion - Knits - Shoes - Menswear
Image (Promotion)
Milan (Global Fashion Centers)
Look at offerings and need out and refine their line
Limitations of regional marts
14. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Shortage (Dollar Merchandise Plan)
Business Consultant's Services
Merchandise Assortment Planning
Discount Store (Specialty)
15. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Discount Store (Specialty)
Trade Publications (Sources)
Factory Outlet (Specialty)
Buyer (Retail Merchandising)
16. Net sales- total merchandise costs (Allow for overhead taxes and profit)
In-store Boutique
Paris (Global Fashion Centers)
Gross Margin Percentage (Dollar Merchandise Plan)
Vendors (Sources)
17. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Catalog Showroom (Specialty)
Confined merchandis
De
Merchandise/Promotional (Advertising)
18. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Twig (Classifications; Department Store)
Hypermarkets (Specialty
DMM (Merchandising; Retail Store
Vendors (Sources)
19. Typically 6 months prior to season
Direct Selling (Non-store Retailing)
Market Wee
Product Development
Breadt
20. Market area - Assists specialized (central) buyer
Broad-based Business Consulting Services
Resident Buyer (Path for Buyers)
Look at offerings and need out and refine their line
Overbought
21. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Catalog/Mail Order (Non-store Retai
Stylist
Branch (Classifications; Department Store
Merchandisi
22. Variety of low priced merchandise
Personal Shopper
Overbought
Buyer (Merchandising; Retail Stores)
Variety Store (Specialty)
23. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Store Ownership Group
Market Wee
Department Store (Characteristics)
Independently Owed (Product Development Organizations)
24. Regional center for bridal - evening wear
Dallas
Stylist
Store Ownership Group
Image (Promotion)
25. Responsible for several areas
Resident Buyer (Path for Buyers)
Business Consultant's Services
DMM (Merchandising; Retail Store
Department Store (Characteristics)
26. Focuses on a particular item or product
Lower prices
Promotio
Look at offerings and need out and refine their line
Broad-based Business Consulting Services
27. 2nd largest leasing space available
Central Buyer (Path for Buyers)
Off-Price Store (Specialty)
Gross Margin Percentage (Dollar Merchandise Plan)
Los Angeles
28. Small area within a store for designers or popular manufacturers
Advertising
Sources of Information (Retail Merchandising)
In-store Boutique
Catalog Showroom (Specialty)
29. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Reporting Services (Sources)
Off-Price Store (Specialty)
Catalog/Mail Order (Non-store Retai
Buyers Attend Market
30. Larger orders may allow for...
De
Trade Associations (Sources)
Lower prices
Using Resident Buying Offices (Sources)
31. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Look at offerings and need out and refine their line
Store within a Store
Factors to be Considered in Editing (Buying)
Twig (Classifications; Department Store)
32. Buying - selling - and planning of merchandise
Merchandisi
Turnover (Dollar Merchandise Plan)
Paris (Global Fashion Centers)
Market
33. Ads; focuses on business itself
Costume Designe
Paths for Buyers
Image (Advertising)
GMM (Merchandising; Retail Stores)
34. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Management Consultants (Consulting Services)
Department Store (Characteristics)
Broad-based Business Consulting Services
Catalog/Mail Order (Non-store Retai
35. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
Specialty Store
Merchandise/Promotional (Advertising)
Promotio
36. Specialize in brand and designer name clothing at discounted prices
Branch (Classifications; Department Store
Vendors (Sources)
Two basic kinds of ratail advertising
Off-Price Store (Specialty)
37. Most aware of what is selling (bias)
Merchandise Assortment Planning
Trade Publications (Sources)
Market
Vendors (Sources)
38. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Direct Selling (Non-store Retailing)
Open-to-buy (Dollar Merchandise Plan)
Limitations of regional marts
Product Development
39. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Franchise
Promotio
Direct Selling (Non-store Retailing)
Dollar Merchandise Plan
40. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Terms to be Negotiated (Buying)
Store within a Store
GMM (Merchandising; Retail Stores)
Resident Buyer
41. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Variety Store (Specialty)
Dallas
Franchise
Minor Fashion Industries (Global Fashion Centers)
42. Conduct own research
Trade Associations (Sources)
Hypermarkets (Specialty
Sources of Merchandise (Buying)
Market Research (Sources)
43. Merchandising - Buying - Product Development Organizations
Resident Buyer (Path for Buyers)
Independently owned services
Direct Selling (Non-store Retailing)
Gross Margin Percentage (Dollar Merchandise Plan)
44. Develops clothing for actors in plays - movies - and television
In-store Boutique
Costume Designe
Specialized Store Buyer (Path for Buyers)
Factors in Selecting a Resource (Buying
45. When merchandise (inventory and ordered) is GREATER than need
Overbought
New York (Market Centers)
Central Buyer (Path for Buyers)
Milan (Global Fashion Centers)
46. Centrally located/organized with merchandising and buying in a central headquarters - Most of the separate stores look alike and carry the same merchandise - Example = Target
Broad-based Business Consulting Services
Reporting Services (Sources)
Chain Store
Promotio
47. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Merchandisi
Factory Outlet (Specialty)
Reporting Services (Sources)
Specialized Store Buyer (Path for Buyers)
48. Store's own label for career and casual sportswear; prices vary (better to moderate)
Private Label
Shopping the Stores (Sources)
Open-to-buy (Dollar Merchandise Plan)
Breadt
49. Money left to buy- when merchandise NEEDS to exceed merchandise available
Publicity
Reporting Services (Sources)
Milan (Global Fashion Centers)
OB
50. Focus specifically on product
Open-to-buy (Dollar Merchandise Plan)
Catalog Showroom (Specialty)
Merchandise/Promotional (Advertising)
Off-Price Store (Specialty)