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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. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Gross Margin Percentage (Dollar Merchandise Plan)
Factory Outlet (Specialty)
In-store Success (Sources
Tokyo (Global Fashion Centers
2. Merchandising offerings - Appropriate for customers
Factors in Selecting a Resource (Buying
Broad-based Business Consulting Services
Open-to-buy (Dollar Merchandise Plan)
Branch (Classifications; Department Store
3. Responsible for a department/area
New York (Market Centers)
Resident Buyer (Path for Buyers)
Buyer (Merchandising; Retail Stores)
Some samples may never be mass produced
4. Not paid for by the retailer and the retailer doesn't have control over what is said
De
Publicity
Paris (Global Fashion Centers)
Market Research (Sources)
5. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Branch (Classifications; Department Store
Paths for Buyers
Shortage (Dollar Merchandise Plan)
Terms to be Negotiated (Buying)
6. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Two basic kinds of ratail advertising
Catalog/Mail Order (Non-store Retai
Market Research (Sources)
Sources of Information (Retail Merchandising)
7. Specialize in brand and designer name clothing at discounted prices
Off-Price Store (Specialty)
Central Buyer (Path for Buyers)
Market Research (Sources)
Factors in Selecting a Resource (Buying
8. Responsible for several areas
Variety Store (Specialty)
In-store Success (Sources
DMM (Merchandising; Retail Store
Lower prices
9. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Costume Designe
Buyer (Retail Merchandising)
Private Label
Department Store (Characteristics)
10. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Buyer (Merchandising; Retail Stores)
Sources of Information (Retail Merchandising)
London (Global Fashion Centers)
Product Development
11. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
OB
Factors in Selecting a Resource (Buying
Dallas
12. Menswear
Store within a Store
London (Global Fashion Centers)
Overbought
Shopping the Stores (Sources)
13. Door-to-door or house parties
Store within a Store
Reporting Services (Sources)
Direct Selling (Non-store Retailing)
Department Store (Characteristics)
14. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Factors in Selecting a Resource (Buying
Paris (Global Fashion Centers)
Publicity
Store Owned Organizations (Product Development Organizations
15. Small operation
Buyers Attend Market
Chain Store
Confined merchandis
Store Owner (Path for Buyers)
16. Management consultants - Technical consultants - Import and export consultants
Specialized Store Buyer (Path for Buyers)
Specialty Store
Broad-based Business Consulting Services
Twig (Classifications; Department Store)
17. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Independently owned services
Minor Fashion Industries (Global Fashion Centers)
Store Ownership Group
Chain Store
18. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Electronic Retailing (Non-store Retailing)
Gross Margin Percentage (Dollar Merchandise Plan)
Market Research (Sources)
New York (Market Centers)
19. 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
Independently owned services
Off-Price Store (Specialty)
Market
Some samples may never be mass produced
20. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Costume Designe
OB
Specialized Store Buyer (Path for Buyers)
Catalog/Mail Order (Non-store Retai
21. Focuses on the business itself
Limitations of regional marts
Store Ownership Group
Image (Promotion)
Trade Publications (Sources)
22. Store open another facility in a different location - often in suburbs
Independently owned services
Central Buyer (Path for Buyers)
Branch (Classifications; Department Store
Gross Margin Percentage (Dollar Merchandise Plan)
23. Conduct own research
Trade Publications (Sources)
Market Wee
Market Research (Sources)
Management Consultants (Consulting Services)
24. Located in market
Resident Buyer (Path for Buyers)
Factors in Selecting a Resource (Buying
Using Resident Buying Offices (Sources)
Shortage (Dollar Merchandise Plan)
25. Compare what is available from the competition
Lower prices
Look at offerings and need out and refine their line
Promotio
Shopping the Stores (Sources)
26. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Using Resident Buying Offices (Sources)
Buyer (Retail Merchandising)
Merchandisi
Central Buyer (Path for Buyers)
27. Most aware of what is selling (bias)
Lower prices
In-store Boutique
Vendors (Sources)
In-store Success (Sources
28. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
DMM (Merchandising; Retail Store
Lower prices
Elements of Dollar Merchandize Plan
London (Global Fashion Centers)
29. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Confined merchandis
Factory Outlet (Specialty)
Wholesale Warehouse Clubs (Specialty)
Merchandisi
30. Small area within a store for designers or popular manufacturers
Look at offerings and need out and refine their line
In-store Boutique
Los Angeles
Merchandisi
31. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Electronic Retailing (Non-store Retailing)
Sources of Merchandise (Buying)
Reporting Services (Sources)
Factory Outlet (Specialty)
32. 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
Paths for Buyers
Wholesale Warehouse Clubs (Specialty)
Using Resident Buying Offices (Sources)
33. Selling responsibilities
Factors to be Considered in Editing (Buying)
Some samples may never be mass produced
Specialized Store Buyer (Path for Buyers)
Business Consultant's Services
34. Sourcing - Logistics related to - importing - Managing information systems
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35. Typically 6 months prior to season
Market Wee
Specialty Store
Market Research (Sources)
OB
36. Regional center for bridal - evening wear
Factors to be Considered in Editing (Buying)
Turnover (Dollar Merchandise Plan)
Dallas
Regional Marts
37. 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
Broad-based Business Consulting Services
Private Label
Discount Store (Specialty)
38. Sales records - Sales people
Franchise
In-store Success (Sources
Minor Fashion Industries (Global Fashion Centers)
GMM (Merchandising; Retail Stores)
39. Ads; focuses on business itself
Specialty Store
Advertising
Image (Advertising)
Regional Marts
40. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store Ownership Group
Private Label
Store within a Store
Breadt
41. Small specialized store of a department store
Twig (Classifications; Department Store)
Franchise
Chain Store
Merchandise Assortment Planning
42. Focuses on a particular item or product
Flagship (Classifications; Department Store)
Discount Store (Specialty)
Promotio
In-store Success (Sources
43. Larger orders may allow for...
Open-to-buy (Dollar Merchandise Plan)
Twig (Classifications; Department Store)
Lower prices
Market
44. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Elements of Dollar Merchandize Plan
Personal Shopper
Store Owned Organizations (Product Development Organizations
Trade Associations (Sources)
45. Market area - Assists specialized (central) buyer
Resident Buyer (Path for Buyers)
Gross Margin Percentage (Dollar Merchandise Plan)
Merchandise Assortment Planning
Turnover (Dollar Merchandise Plan)
46. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Store Owner (Path for Buyers)
Specialty Store
Overbought
Direct Selling (Non-store Retailing)
47. 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
Dallas
Lower prices
Shortage (Dollar Merchandise Plan)
48. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Sources of Merchandise (Buying)
Merchandisi
Merchandise Assortment Planning
Image (Promotion)
49. Store's own label for career and casual sportswear; prices vary (better to moderate)
Merchandisi
Factory Outlet (Specialty)
Private Label
Breadt
50. 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
Costume Designe
Regional Marts
Factors in Selecting a Resource (Buying
In-store Boutique