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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. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Using Resident Buying Offices (Sources)
Dallas
Advertising
Buyers Attend Market
2. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store within a Store
Dollar Merchandise Plan
Department Store (Characteristics)
Image (Advertising)
3. Compare what is available from the competition
London (Global Fashion Centers)
Merchandise Assortment Planning
Shopping the Stores (Sources)
Store within a Store
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
Paris (Global Fashion Centers)
Reporting Services (Sources)
Factors in Selecting a Resource (Buying
5. Management consultants - Technical consultants - Import and export consultants
Store Owned Organizations (Product Development Organizations
Chain Store
Direct Selling (Non-store Retailing)
Broad-based Business Consulting Services
6. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Sources of Information (Retail Merchandising)
Dallas
Stylist
Milan (Global Fashion Centers)
7. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Market Wee
Store Owned Organizations (Product Development Organizations
Resident Buyer (Path for Buyers)
Hypermarkets (Specialty
8. Focuses on a particular item or product
Promotio
Costume Designe
Store Ownership Group
Terms to be Negotiated (Buying)
9. Market area - Assists specialized (central) buyer
Catalog/Mail Order (Non-store Retai
Image (Promotion)
Dollar Merchandise Plan
Resident Buyer (Path for Buyers)
10. Italian fashion - Knits - Shoes - Menswear
New York (Market Centers)
Milan (Global Fashion Centers)
Variety Store (Specialty)
In-store Boutique
11. Small specialized store of a department store
Franchise
Open-to-buy (Dollar Merchandise Plan)
Twig (Classifications; Department Store)
Dallas
12. Merchandising offerings - Appropriate for customers
Factors in Selecting a Resource (Buying
Vendors (Sources)
Product Development
GMM (Merchandising; Retail Stores)
13. Responsible for several areas
Factors to be Considered in Editing (Buying)
DMM (Merchandising; Retail Store
Market
Product Development
14. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Department Store (Characteristics)
Factors to be Considered in Editing (Buying)
Discount Store (Specialty)
Market
15. Cotton Inc. - Wool Bureau
Store Ownership Group
Trade Associations (Sources)
Factory Outlet (Specialty)
Market Research (Sources)
16. Quantity of different items offered
Promotio
Store Ownership Group
Hypermarkets (Specialty
De
17. Specialize in brand and designer name clothing at discounted prices
Overbought
Regional Marts
Shopping the Stores (Sources)
Off-Price Store (Specialty)
18. Not paid for by the retailer and the retailer doesn't have control over what is said
Limitations of regional marts
Image (Advertising)
Factors to be Considered in Editing (Buying)
Publicity
19. Small operation
Stylist
Store Owner (Path for Buyers)
Catalog Showroom (Specialty)
Resident Buyer
20. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Tokyo (Global Fashion Centers
Lower prices
Store Ownership Group
Specialty Store
21. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Specialized Store Buyer (Path for Buyers)
Shopping the Stores (Sources)
Overbought
Catalog/Mail Order (Non-store Retai
22. Pay a fee for what are supposed to be wholesale prices
Merchandise/Promotional (Advertising)
Merchandisi
Wholesale Warehouse Clubs (Specialty)
Buyers Attend Market
23. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Flagship (Classifications; Department Store)
Independently Owed (Product Development Organizations)
Trade Associations (Sources)
Factors to be Considered in Editing (Buying)
24. Typically 6 months prior to season
Personal Shopper
Trade Associations (Sources)
DMM (Merchandising; Retail Store
Market Wee
25. Most aware of what is selling (bias)
Look at offerings and need out and refine their line
Vendors (Sources)
Factors to be Considered in Editing (Buying)
Reporting Services (Sources)
26. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
New York (Market Centers)
Open-to-buy (Dollar Merchandise Plan)
Product Development
Trade Associations (Sources)
27. Variety of low priced merchandise
Private Label
Variety Store (Specialty)
Factory Outlet (Specialty)
Publicity
28. 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
Some samples may never be mass produced
Direct Selling (Non-store Retailing)
Factors to be Considered in Editing (Buying)
New York (Market Centers)
29. Merchandising - Buying - Product Development Organizations
Independently owned services
New York (Market Centers)
Department Store (Characteristics)
Product Development
30. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Management Consultants (Consulting Services)
Chain Store
Terms to be Negotiated (Buying)
Wholesale Warehouse Clubs (Specialty)
31. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Branch (Classifications; Department Store
Stylist
Trade Associations (Sources)
Market Research (Sources)
32. Order from catalog and pick up immediately
Independently owned services
Private Label
Personal Shopper
Catalog Showroom (Specialty)
33. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Regional Marts
Catalog Showroom (Specialty)
Sources of Information (Retail Merchandising)
Factory Outlet (Specialty)
34. Number of different items offered
Independently owned services
Open-to-buy (Dollar Merchandise Plan)
Factors to be Considered in Editing (Buying)
Breadt
35. Large number of resources centered in 7th Avenue area - Largest and most important domestically
New York (Market Centers)
Market Wee
Market Research (Sources)
Discount Store (Specialty)
36. 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
Paris (Global Fashion Centers)
Buyer (Retail Merchandising)
Resident Buyer
OB
37. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandise Assortment Planning
Electronic Retailing (Non-store Retailing)
Overbought
Off-Price Store (Specialty)
38. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Merchandise/Promotional (Advertising)
Dollar Merchandise Plan
Limitations of regional marts
Variety Store (Specialty)
39. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Store Ownership Group
Using Resident Buying Offices (Sources)
Overbought
Department Store (Characteristics)
40. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Promotio
Advertising
Elements of Dollar Merchandize Plan
Shopping the Stores (Sources)
41. Sales records - Sales people
Market Research (Sources)
Market
Advertising
In-store Success (Sources
42. Larger orders may allow for...
Image (Promotion)
De
Sources of Information (Retail Merchandising)
Lower prices
43. Selling responsibilities
In-store Boutique
Merchandise/Promotional (Advertising)
Limitations of regional marts
Specialized Store Buyer (Path for Buyers)
44. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
Specialized Store Buyer (Path for Buyers)
De
DMM (Merchandising; Retail Store
45. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Merchandise Assortment Planning
Gross Margin Percentage (Dollar Merchandise Plan)
Branch (Classifications; Department Store
46. Store open another facility in a different location - often in suburbs
Publicity
Merchandise Assortment Planning
Open-to-buy (Dollar Merchandise Plan)
Branch (Classifications; Department Store
47. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
GMM (Merchandising; Retail Stores)
Buyers Attend Market
Confined merchandis
Electronic Retailing (Non-store Retailing)
48. WWD - DNR - stores (consumer fashion magazines)
Market Research (Sources)
Catalog/Mail Order (Non-store Retai
Dollar Merchandise Plan
Trade Publications (Sources)
49. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Personal Shopper
Business Consultant's Services
Buyer (Retail Merchandising)
Catalog/Mail Order (Non-store Retai
50. Focus specifically on product
Trade Publications (Sources)
Los Angeles
Buyer (Retail Merchandising)
Merchandise/Promotional (Advertising)