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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. Store owner - Specialized store buyer - Central buyer - Resident buyer
Reporting Services (Sources)
Paths for Buyers
Resident Buyer
Chain Store
2. Small specialized store of a department store
Hypermarkets (Specialty
Twig (Classifications; Department Store)
Shopping the Stores (Sources)
Independently Owed (Product Development Organizations)
3. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Store Owner (Path for Buyers)
Hypermarkets (Specialty
Chain Store
Los Angeles
4. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Franchise
Image (Advertising)
Store Ownership Group
Independently Owed (Product Development Organizations)
5. Management consultants - Technical consultants - Import and export consultants
Merchandisi
Broad-based Business Consulting Services
Franchise
Resident Buyer (Path for Buyers)
6. Door-to-door or house parties
Turnover (Dollar Merchandise Plan)
GMM (Merchandising; Retail Stores)
Buyers Attend Market
Direct Selling (Non-store Retailing)
7. Larger orders may allow for...
Specialized Store Buyer (Path for Buyers)
Personal Shopper
Specialty Store
Lower prices
8. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
Market Research (Sources)
London (Global Fashion Centers)
Elements of Dollar Merchandize Plan
9. Quantity of different items offered
Buyer (Merchandising; Retail Stores)
Business Consultant's Services
In-store Boutique
De
10. Merchandising - Buying - Product Development Organizations
Shopping the Stores (Sources)
Personal Shopper
Merchandisi
Independently owned services
11. WWD - DNR - stores (consumer fashion magazines)
Buyer (Merchandising; Retail Stores)
Trade Publications (Sources)
Factors to be Considered in Editing (Buying)
Hypermarkets (Specialty
12. 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
Buyer (Retail Merchandising)
Market Research (Sources)
Some samples may never be mass produced
Store Ownership Group
13. Conduct own research
Dollar Merchandise Plan
Image (Advertising)
Market Research (Sources)
Variety Store (Specialty)
14. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Product Development
Sources of Information (Retail Merchandising)
Catalog Showroom (Specialty)
Look at offerings and need out and refine their line
15. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Factory Outlet (Specialty)
Paths for Buyers
Management Consultants (Consulting Services)
Broad-based Business Consulting Services
16. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Buyers Attend Market
Store Owned Organizations (Product Development Organizations
DMM (Merchandising; Retail Store
Franchise
17. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Specialty Store
Variety Store (Specialty)
Los Angeles
New York (Market Centers)
18. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Catalog Showroom (Specialty)
Some samples may never be mass produced
Central Buyer (Path for Buyers)
Product Development
19. Responsible for a department/area
Dallas
Buyer (Merchandising; Retail Stores)
Branch (Classifications; Department Store
Buyer (Retail Merchandising)
20. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Milan (Global Fashion Centers)
Advertising
Factors to be Considered in Editing (Buying)
Turnover (Dollar Merchandise Plan)
21. Current information on trends
Breadt
Reporting Services (Sources)
Tokyo (Global Fashion Centers
Dollar Merchandise Plan
22. 2nd largest leasing space available
Reporting Services (Sources)
Market Research (Sources)
Los Angeles
Wholesale Warehouse Clubs (Specialty)
23. 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
Store Owned Organizations (Product Development Organizations
Factors to be Considered in Editing (Buying)
Buyer (Retail Merchandising)
24. Pay a fee for what are supposed to be wholesale prices
Independently owned services
Discount Store (Specialty)
Factors in Selecting a Resource (Buying
Wholesale Warehouse Clubs (Specialty)
25. Store open another facility in a different location - often in suburbs
Department Store (Characteristics)
Branch (Classifications; Department Store
Market Wee
Confined merchandis
26. 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
Store Owner (Path for Buyers)
Resident Buyer
Wholesale Warehouse Clubs (Specialty)
Shortage (Dollar Merchandise Plan)
27. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Market
London (Global Fashion Centers)
Wholesale Warehouse Clubs (Specialty)
Using Resident Buying Offices (Sources)
28. Ads; focuses on business itself
Tokyo (Global Fashion Centers
Image (Advertising)
Gross Margin Percentage (Dollar Merchandise Plan)
Department Store (Characteristics)
29. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Specialized Store Buyer (Path for Buyers)
Tokyo (Global Fashion Centers
Merchandisi
Limitations of regional marts
30. Variety of low priced merchandise
Stylist
Limitations of regional marts
Variety Store (Specialty)
Resident Buyer
31. Menswear
Direct Selling (Non-store Retailing)
Department Store (Characteristics)
London (Global Fashion Centers)
Off-Price Store (Specialty)
32. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Publicity
Milan (Global Fashion Centers)
Elements of Dollar Merchandize Plan
Buyer (Merchandising; Retail Stores)
33. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Merchandisi
Dollar Merchandise Plan
Sources of Merchandise (Buying)
Vendors (Sources)
34. Number of different items offered
Flagship (Classifications; Department Store)
Regional Marts
Market Wee
Breadt
35. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Minor Fashion Industries (Global Fashion Centers)
Store Ownership Group
Specialty Store
New York (Market Centers)
36. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandisi
London (Global Fashion Centers)
Flagship (Classifications; Department Store)
Merchandise Assortment Planning
37. Compare what is available from the competition
London (Global Fashion Centers)
OB
Shopping the Stores (Sources)
Turnover (Dollar Merchandise Plan)
38. Television or computer shopping
Twig (Classifications; Department Store)
Gross Margin Percentage (Dollar Merchandise Plan)
Shopping the Stores (Sources)
Electronic Retailing (Non-store Retailing)
39. Responsible for several areas
Store Ownership Group
Breadt
DMM (Merchandising; Retail Store
Market
40. Where store execs are housed
Catalog/Mail Order (Non-store Retai
Electronic Retailing (Non-store Retailing)
Overbought
Flagship (Classifications; Department Store)
41. People who shop for clients
Image (Advertising)
Personal Shopper
Chain Store
Factors to be Considered in Editing (Buying)
42. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Merchandise Assortment Planning
Sources of Merchandise (Buying)
Dallas
Buyer (Retail Merchandising)
43. Money left to buy- when merchandise NEEDS to exceed merchandise available
Direct Selling (Non-store Retailing)
Off-Price Store (Specialty)
OB
GMM (Merchandising; Retail Stores)
44. 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
Chain Store
Vendors (Sources)
Market Research (Sources)
Regional Marts
45. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Gross Margin Percentage (Dollar Merchandise Plan)
Lower prices
Off-Price Store (Specialty)
Breadt
46. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store within a Store
Tokyo (Global Fashion Centers
Minor Fashion Industries (Global Fashion Centers)
Paths for Buyers
47. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Independently Owed (Product Development Organizations)
Chain Store
Look at offerings and need out and refine their line
Los Angeles
48. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Dallas
Paris (Global Fashion Centers)
Twig (Classifications; Department Store)
Catalog/Mail Order (Non-store Retai
49. Shoplifting - internal theft - inaccurate records
Catalog/Mail Order (Non-store Retai
Shortage (Dollar Merchandise Plan)
Franchise
London (Global Fashion Centers)
50. Focus specifically on product
Merchandise/Promotional (Advertising)
Discount Store (Specialty)
Lower prices
Factors to be Considered in Editing (Buying)