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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. Merchandising - Buying - Product Development Organizations
Independently Owed (Product Development Organizations)
Reporting Services (Sources)
Broad-based Business Consulting Services
Independently owned services
2. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Los Angeles
Open-to-buy (Dollar Merchandise Plan)
Gross Margin Percentage (Dollar Merchandise Plan)
Trade Associations (Sources)
3. Focuses on a particular item or product
Promotio
Overbought
Department Store (Characteristics)
In-store Success (Sources
4. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Confined merchandis
Sources of Merchandise (Buying)
Market
Hypermarkets (Specialty
5. Number of different items offered
Central Buyer (Path for Buyers)
Breadt
Market
Market Wee
6. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Independently Owed (Product Development Organizations)
Open-to-buy (Dollar Merchandise Plan)
Milan (Global Fashion Centers)
Catalog/Mail Order (Non-store Retai
7. When merchandise (inventory and ordered) is GREATER than need
Resident Buyer
Overbought
Promotio
Direct Selling (Non-store Retailing)
8. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Look at offerings and need out and refine their line
Department Store (Characteristics)
Resident Buyer (Path for Buyers)
Minor Fashion Industries (Global Fashion Centers)
9. Order from catalog and pick up immediately
Catalog/Mail Order (Non-store Retai
Twig (Classifications; Department Store)
Catalog Showroom (Specialty)
Regional Marts
10. Regional center for bridal - evening wear
Lower prices
Milan (Global Fashion Centers)
New York (Market Centers)
Dallas
11. Develops clothing for actors in plays - movies - and television
Costume Designe
Resident Buyer
Twig (Classifications; Department Store)
Branch (Classifications; Department Store
12. Quantity of different items offered
Buyers Attend Market
Catalog Showroom (Specialty)
De
Gross Margin Percentage (Dollar Merchandise Plan)
13. Door-to-door or house parties
Tokyo (Global Fashion Centers
Overbought
Direct Selling (Non-store Retailing)
Wholesale Warehouse Clubs (Specialty)
14. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Turnover (Dollar Merchandise Plan)
Regional Marts
Overbought
Catalog/Mail Order (Non-store Retai
15. Focuses on the business itself
Electronic Retailing (Non-store Retailing)
Some samples may never be mass produced
Private Label
Image (Promotion)
16. Ads; focuses on business itself
Image (Advertising)
Using Resident Buying Offices (Sources)
In-store Success (Sources
Resident Buyer
17. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Personal Shopper
Elements of Dollar Merchandize Plan
Sources of Information (Retail Merchandising)
Direct Selling (Non-store Retailing)
18. Pay a fee for what are supposed to be wholesale prices
Broad-based Business Consulting Services
Personal Shopper
New York (Market Centers)
Wholesale Warehouse Clubs (Specialty)
19. Most aware of what is selling (bias)
Broad-based Business Consulting Services
Tokyo (Global Fashion Centers
London (Global Fashion Centers)
Vendors (Sources)
20. WWD - DNR - stores (consumer fashion magazines)
Resident Buyer
Catalog Showroom (Specialty)
Paris (Global Fashion Centers)
Trade Publications (Sources)
21. Chain
Specialized Store Buyer (Path for Buyers)
Central Buyer (Path for Buyers)
Franchise
Publicity
22. Selling responsibilities
Factors to be Considered in Editing (Buying)
Business Consultant's Services
Specialized Store Buyer (Path for Buyers)
Branch (Classifications; Department Store
23. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Promotio
Hypermarkets (Specialty
Store Ownership Group
In-store Success (Sources
24. Shoplifting - internal theft - inaccurate records
Reporting Services (Sources)
Discount Store (Specialty)
Department Store (Characteristics)
Shortage (Dollar Merchandise Plan)
25. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Central Buyer (Path for Buyers)
Costume Designe
Using Resident Buying Offices (Sources)
Dollar Merchandise Plan
26. Located in market
Variety Store (Specialty)
New York (Market Centers)
De
Using Resident Buying Offices (Sources)
27. Mass - staples
Terms to be Negotiated (Buying)
Lower prices
Tokyo (Global Fashion Centers
Catalog/Mail Order (Non-store Retai
28. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Publicity
Specialty Store
Private Label
Store Ownership Group
29. Buying - selling - and planning of merchandise
Limitations of regional marts
Open-to-buy (Dollar Merchandise Plan)
Broad-based Business Consulting Services
Merchandisi
30. 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
De
Turnover (Dollar Merchandise Plan)
Shortage (Dollar Merchandise Plan)
Chain Store
31. 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
Electronic Retailing (Non-store Retailing)
Central Buyer (Path for Buyers)
Store Owner (Path for Buyers)
32. Not paid for by the retailer and the retailer doesn't have control over what is said
Costume Designe
Publicity
GMM (Merchandising; Retail Stores)
Independently owned services
33. 2nd largest leasing space available
Los Angeles
Stylist
Discount Store (Specialty)
Market Wee
34. Store's own label for career and casual sportswear; prices vary (better to moderate)
Tokyo (Global Fashion Centers
Overbought
Private Label
Direct Selling (Non-store Retailing)
35. Where store execs are housed
Limitations of regional marts
Flagship (Classifications; Department Store)
Specialized Store Buyer (Path for Buyers)
GMM (Merchandising; Retail Stores)
36. Small area within a store for designers or popular manufacturers
In-store Boutique
Stylist
Franchise
Store within a Store
37. Store owner - Specialized store buyer - Central buyer - Resident buyer
Paths for Buyers
Advertising
Sources of Information (Retail Merchandising)
Management Consultants (Consulting Services)
38. Focus specifically on product
Store Ownership Group
Merchandise/Promotional (Advertising)
Specialty Store
Variety Store (Specialty)
39. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Factors to be Considered in Editing (Buying)
Product Development
Catalog/Mail Order (Non-store Retai
Off-Price Store (Specialty)
40. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Market Research (Sources)
Dallas
Factory Outlet (Specialty)
Sources of Merchandise (Buying)
41. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Market
Twig (Classifications; Department Store)
Merchandise Assortment Planning
Buyers Attend Market
42. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Personal Shopper
Market Wee
Shopping the Stores (Sources)
43. People who shop for clients
Dollar Merchandise Plan
Personal Shopper
In-store Boutique
Independently owned services
44. Sourcing - Logistics related to - importing - Managing information systems
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45. Current information on trends
Two basic kinds of ratail advertising
Using Resident Buying Offices (Sources)
Reporting Services (Sources)
Costume Designe
46. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
London (Global Fashion Centers)
Look at offerings and need out and refine their line
In-store Success (Sources
Stylist
47. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
Catalog/Mail Order (Non-store Retai
Costume Designe
Buyer (Retail Merchandising)
48. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Discount Store (Specialty)
Franchise
Stylist
Paths for Buyers
49. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store within a Store
Personal Shopper
Market
Buyers Attend Market
50. Market area - Assists specialized (central) buyer
Off-Price Store (Specialty)
Paris (Global Fashion Centers)
Direct Selling (Non-store Retailing)
Resident Buyer (Path for Buyers)