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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. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Direct Selling (Non-store Retailing)
Catalog/Mail Order (Non-store Retai
London (Global Fashion Centers)
Costume Designe
2. Sales records - Sales people
Hypermarkets (Specialty
Market
In-store Success (Sources
Broad-based Business Consulting Services
3. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Sources of Information (Retail Merchandising)
Lower prices
Dallas
Resident Buyer (Path for Buyers)
4. Money left to buy- when merchandise NEEDS to exceed merchandise available
Promotio
Paths for Buyers
OB
Trade Associations (Sources)
5. Most aware of what is selling (bias)
OB
Trade Publications (Sources)
Shopping the Stores (Sources)
Vendors (Sources)
6. 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
Factory Outlet (Specialty)
Buyers Attend Market
Factors in Selecting a Resource (Buying
Breadt
7. Management consultants - Technical consultants - Import and export consultants
Electronic Retailing (Non-store Retailing)
Sources of Merchandise (Buying)
Store within a Store
Broad-based Business Consulting Services
8. Order from catalog and pick up immediately
Open-to-buy (Dollar Merchandise Plan)
DMM (Merchandising; Retail Store
Overbought
Catalog Showroom (Specialty)
9. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Vendors (Sources)
Terms to be Negotiated (Buying)
Specialized Store Buyer (Path for Buyers)
Market
10. Cotton Inc. - Wool Bureau
Direct Selling (Non-store Retailing)
Trade Associations (Sources)
Broad-based Business Consulting Services
Branch (Classifications; Department Store
11. Where store execs are housed
Specialized Store Buyer (Path for Buyers)
Milan (Global Fashion Centers)
Store Owner (Path for Buyers)
Flagship (Classifications; Department Store)
12. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Tokyo (Global Fashion Centers
Paths for Buyers
Confined merchandis
Paris (Global Fashion Centers)
13. Located in market
Trade Publications (Sources)
Using Resident Buying Offices (Sources)
Store within a Store
Publicity
14. Number of different items offered
Buyers Attend Market
Breadt
Specialized Store Buyer (Path for Buyers)
Some samples may never be mass produced
15. 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
Private Label
Milan (Global Fashion Centers)
Flagship (Classifications; Department Store)
16. Chain
Los Angeles
Two basic kinds of ratail advertising
Shortage (Dollar Merchandise Plan)
Central Buyer (Path for Buyers)
17. 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
Catalog/Mail Order (Non-store Retai
Direct Selling (Non-store Retailing)
Some samples may never be mass produced
Shortage (Dollar Merchandise Plan)
18. Small specialized store of a department store
Twig (Classifications; Department Store)
Hypermarkets (Specialty
Branch (Classifications; Department Store
Broad-based Business Consulting Services
19. Sourcing - Logistics related to - importing - Managing information systems
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20. Compare what is available from the competition
Buyers Attend Market
Shopping the Stores (Sources)
GMM (Merchandising; Retail Stores)
Variety Store (Specialty)
21. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Dollar Merchandise Plan
Some samples may never be mass produced
Franchise
Merchandise/Promotional (Advertising)
22. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Minor Fashion Industries (Global Fashion Centers)
Discount Store (Specialty)
Buyer (Retail Merchandising)
Central Buyer (Path for Buyers)
23. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Central Buyer (Path for Buyers)
Factors in Selecting a Resource (Buying
Resident Buyer
Elements of Dollar Merchandize Plan
24. Door-to-door or house parties
Market
Buyers Attend Market
Merchandise/Promotional (Advertising)
Direct Selling (Non-store Retailing)
25. 2nd largest leasing space available
Central Buyer (Path for Buyers)
Los Angeles
Catalog/Mail Order (Non-store Retai
Confined merchandis
26. Television or computer shopping
Management Consultants (Consulting Services)
Product Development
Electronic Retailing (Non-store Retailing)
Breadt
27. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Shopping the Stores (Sources)
Independently Owed (Product Development Organizations)
Tokyo (Global Fashion Centers
Dallas
28. Focuses on a particular item or product
Tokyo (Global Fashion Centers
Vendors (Sources)
Promotio
Variety Store (Specialty)
29. 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
Store within a Store
Promotio
Turnover (Dollar Merchandise Plan)
Chain Store
30. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Gross Margin Percentage (Dollar Merchandise Plan)
Hypermarkets (Specialty
Store Owner (Path for Buyers)
Trade Publications (Sources)
31. Specialize in brand and designer name clothing at discounted prices
Two basic kinds of ratail advertising
Management Consultants (Consulting Services)
Off-Price Store (Specialty)
Turnover (Dollar Merchandise Plan)
32. Mass - staples
Elements of Dollar Merchandize Plan
Tokyo (Global Fashion Centers
Specialized Store Buyer (Path for Buyers)
Resident Buyer
33. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Specialty Store
Los Angeles
OB
Market Research (Sources)
34. Focuses on the business itself
Image (Promotion)
Central Buyer (Path for Buyers)
Milan (Global Fashion Centers)
Store within a Store
35. Store's own label for career and casual sportswear; prices vary (better to moderate)
Market Wee
Variety Store (Specialty)
New York (Market Centers)
Private Label
36. Manufacturers Attend Market to...
GMM (Merchandising; Retail Stores)
Look at offerings and need out and refine their line
London (Global Fashion Centers)
New York (Market Centers)
37. Image Merchandise/promotional -advertising agencies bid for client accounts
Two basic kinds of ratail advertising
Limitations of regional marts
London (Global Fashion Centers)
Market
38. Merchandising offerings - Appropriate for customers
Factors in Selecting a Resource (Buying
Factory Outlet (Specialty)
Reporting Services (Sources)
Breadt
39. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Trade Associations (Sources)
Private Label
Stylist
OB
40. 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
OB
Regional Marts
Two basic kinds of ratail advertising
Some samples may never be mass produced
41. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Shopping the Stores (Sources)
Franchise
OB
Lower prices
42. Typically 6 months prior to season
Open-to-buy (Dollar Merchandise Plan)
Market Wee
Factory Outlet (Specialty)
Using Resident Buying Offices (Sources)
43. Variety of low priced merchandise
Shopping the Stores (Sources)
Variety Store (Specialty)
Minor Fashion Industries (Global Fashion Centers)
Management Consultants (Consulting Services)
44. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Sources of Information (Retail Merchandising)
Advertising
London (Global Fashion Centers)
DMM (Merchandising; Retail Store
45. Quantity of different items offered
De
Two basic kinds of ratail advertising
Breadt
Shortage (Dollar Merchandise Plan)
46. Focus specifically on product
Image (Advertising)
Merchandise/Promotional (Advertising)
Store Owner (Path for Buyers)
Sources of Information (Retail Merchandising)
47. When merchandise (inventory and ordered) is GREATER than need
Independently Owed (Product Development Organizations)
In-store Boutique
Overbought
Dollar Merchandise Plan
48. Conduct own research
Variety Store (Specialty)
Vendors (Sources)
Personal Shopper
Market Research (Sources)
49. Larger orders may allow for...
Lower prices
Los Angeles
Dallas
Look at offerings and need out and refine their line
50. Ads; focuses on business itself
Look at offerings and need out and refine their line
Central Buyer (Path for Buyers)
De
Image (Advertising)