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Test your basic knowledge |
Fashion Merchandizing
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Subjects
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business-skills
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industries
Instructions:
Answer 50 questions in 15 minutes.
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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. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandise Assortment Planning
Market
Buyer (Retail Merchandising)
Advertising
2. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Store Owned Organizations (Product Development Organizations
Department Store (Characteristics)
Private Label
Branch (Classifications; Department Store
3. Selling responsibilities
Chain Store
Minor Fashion Industries (Global Fashion Centers)
Specialized Store Buyer (Path for Buyers)
Open-to-buy (Dollar Merchandise Plan)
4. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Variety Store (Specialty)
Store Ownership Group
DMM (Merchandising; Retail Store
Gross Margin Percentage (Dollar Merchandise Plan)
5. 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
Gross Margin Percentage (Dollar Merchandise Plan)
Image (Advertising)
Market Wee
6. Buying - selling - and planning of merchandise
Specialty Store
Tokyo (Global Fashion Centers
In-store Success (Sources
Merchandisi
7. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Off-Price Store (Specialty)
Factors to be Considered in Editing (Buying)
Confined merchandis
Store Ownership Group
8. Responsible for several areas
In-store Boutique
DMM (Merchandising; Retail Store
New York (Market Centers)
Open-to-buy (Dollar Merchandise Plan)
9. People who shop for clients
Personal Shopper
Merchandise/Promotional (Advertising)
Lower prices
Sources of Information (Retail Merchandising)
10. Store owner - Specialized store buyer - Central buyer - Resident buyer
Factory Outlet (Specialty)
Resident Buyer (Path for Buyers)
Paths for Buyers
Product Development
11. Menswear
London (Global Fashion Centers)
Franchise
OB
Shopping the Stores (Sources)
12. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Turnover (Dollar Merchandise Plan)
Using Resident Buying Offices (Sources)
Catalog/Mail Order (Non-store Retai
Factors in Selecting a Resource (Buying
13. WWD - DNR - stores (consumer fashion magazines)
Merchandise/Promotional (Advertising)
Trade Publications (Sources)
Sources of Merchandise (Buying)
Management Consultants (Consulting Services)
14. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
In-store Success (Sources
Twig (Classifications; Department Store)
Department Store (Characteristics)
Overbought
15. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Wholesale Warehouse Clubs (Specialty)
Central Buyer (Path for Buyers)
Turnover (Dollar Merchandise Plan)
Dollar Merchandise Plan
16. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Open-to-buy (Dollar Merchandise Plan)
Off-Price Store (Specialty)
Dollar Merchandise Plan
Shortage (Dollar Merchandise Plan)
17. Develops clothing for actors in plays - movies - and television
Factors to be Considered in Editing (Buying)
Costume Designe
Overbought
Independently owned services
18. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Minor Fashion Industries (Global Fashion Centers)
Market Research (Sources)
Store within a Store
In-store Boutique
19. Where store execs are housed
Factory Outlet (Specialty)
Elements of Dollar Merchandize Plan
Market Research (Sources)
Flagship (Classifications; Department Store)
20. Focus specifically on product
Elements of Dollar Merchandize Plan
In-store Success (Sources
Shopping the Stores (Sources)
Merchandise/Promotional (Advertising)
21. Door-to-door or house parties
OB
Specialized Store Buyer (Path for Buyers)
Direct Selling (Non-store Retailing)
Stylist
22. Market area - Assists specialized (central) buyer
Catalog/Mail Order (Non-store Retai
Resident Buyer (Path for Buyers)
Using Resident Buying Offices (Sources)
Dallas
23. Located in market
Look at offerings and need out and refine their line
Shopping the Stores (Sources)
DMM (Merchandising; Retail Store
Using Resident Buying Offices (Sources)
24. Italian fashion - Knits - Shoes - Menswear
Branch (Classifications; Department Store
Variety Store (Specialty)
Milan (Global Fashion Centers)
Some samples may never be mass produced
25. Responsible for establishing the store's image
Broad-based Business Consulting Services
Merchandisi
Lower prices
GMM (Merchandising; Retail Stores)
26. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Hypermarkets (Specialty
Chain Store
Variety Store (Specialty)
Buyer (Merchandising; Retail Stores)
27. Cotton Inc. - Wool Bureau
In-store Success (Sources
Using Resident Buying Offices (Sources)
Trade Associations (Sources)
Direct Selling (Non-store Retailing)
28. Specialize in brand and designer name clothing at discounted prices
Dallas
Los Angeles
Vendors (Sources)
Off-Price Store (Specialty)
29. Small operation
Personal Shopper
GMM (Merchandising; Retail Stores)
In-store Boutique
Store Owner (Path for Buyers)
30. Variety of low priced merchandise
Flagship (Classifications; Department Store)
Variety Store (Specialty)
Department Store (Characteristics)
Management Consultants (Consulting Services)
31. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Sources of Merchandise (Buying)
Resident Buyer
Image (Advertising)
Milan (Global Fashion Centers)
32. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Market Wee
Buyer (Merchandising; Retail Stores)
Los Angeles
Gross Margin Percentage (Dollar Merchandise Plan)
33. Merchandising offerings - Appropriate for customers
London (Global Fashion Centers)
Regional Marts
Franchise
Factors in Selecting a Resource (Buying
34. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Costume Designe
Stylist
Advertising
Direct Selling (Non-store Retailing)
35. Regional center for bridal - evening wear
Twig (Classifications; Department Store)
Dallas
Vendors (Sources)
Sources of Merchandise (Buying)
36. When merchandise (inventory and ordered) is GREATER than need
Buyer (Merchandising; Retail Stores)
Overbought
Open-to-buy (Dollar Merchandise Plan)
De
37. Typically 6 months prior to season
Merchandise/Promotional (Advertising)
Minor Fashion Industries (Global Fashion Centers)
Market Wee
Store Owner (Path for Buyers)
38. Most aware of what is selling (bias)
Vendors (Sources)
Management Consultants (Consulting Services)
New York (Market Centers)
Elements of Dollar Merchandize Plan
39. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Paris (Global Fashion Centers)
Off-Price Store (Specialty)
Elements of Dollar Merchandize Plan
Factors in Selecting a Resource (Buying
40. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Private Label
Resident Buyer (Path for Buyers)
Milan (Global Fashion Centers)
Advertising
41. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Buyer (Retail Merchandising)
Independently Owed (Product Development Organizations)
Private Label
Regional Marts
42. Focuses on the business itself
Branch (Classifications; Department Store
Image (Promotion)
Business Consultant's Services
Specialty Store
43. Germany - Spain - Eastern Block
Personal Shopper
Minor Fashion Industries (Global Fashion Centers)
Central Buyer (Path for Buyers)
New York (Market Centers)
44. 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
Franchise
Using Resident Buying Offices (Sources)
Some samples may never be mass produced
Merchandise/Promotional (Advertising)
45. 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
Factors in Selecting a Resource (Buying
De
Broad-based Business Consulting Services
Resident Buyer
46. Small specialized store of a department store
Franchise
Lower prices
Buyer (Retail Merchandising)
Twig (Classifications; Department Store)
47. Small area within a store for designers or popular manufacturers
In-store Boutique
Off-Price Store (Specialty)
Los Angeles
Broad-based Business Consulting Services
48. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Department Store (Characteristics)
Paths for Buyers
Market Wee
Franchise
49. Chain
Stylist
Milan (Global Fashion Centers)
Buyers Attend Market
Central Buyer (Path for Buyers)
50. Current information on trends
Market
Reporting Services (Sources)
Variety Store (Specialty)
Management Consultants (Consulting Services)
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