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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. 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
Open-to-buy (Dollar Merchandise Plan)
Shopping the Stores (Sources)
Dollar Merchandise Plan
2. Responsible for several areas
Independently Owed (Product Development Organizations)
Sources of Information (Retail Merchandising)
DMM (Merchandising; Retail Store
Paths for Buyers
3. Image Merchandise/promotional -advertising agencies bid for client accounts
Resident Buyer
Chain Store
Two basic kinds of ratail advertising
Vendors (Sources)
4. Develops clothing for actors in plays - movies - and television
Independently Owed (Product Development Organizations)
Costume Designe
Buyers Attend Market
Store Owner (Path for Buyers)
5. Focuses on management and market research
OB
Hypermarkets (Specialty
Management Consultants (Consulting Services)
Resident Buyer
6. Order from catalog and pick up immediately
Image (Promotion)
Look at offerings and need out and refine their line
Merchandise Assortment Planning
Catalog Showroom (Specialty)
7. Buying - selling - and planning of merchandise
Merchandisi
Department Store (Characteristics)
Product Development
Dollar Merchandise Plan
8. Most aware of what is selling (bias)
Lower prices
Market Research (Sources)
Stylist
Vendors (Sources)
9. When merchandise (inventory and ordered) is GREATER than need
Sources of Information (Retail Merchandising)
Store Owned Organizations (Product Development Organizations
Overbought
Buyer (Merchandising; Retail Stores)
10. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Hypermarkets (Specialty
Sources of Information (Retail Merchandising)
Merchandise/Promotional (Advertising)
Off-Price Store (Specialty)
11. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Store Ownership Group
Advertising
Market Wee
Dallas
12. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Franchise
Dollar Merchandise Plan
Specialized Store Buyer (Path for Buyers)
Stylist
13. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Direct Selling (Non-store Retailing)
Product Development
Image (Promotion)
Elements of Dollar Merchandize Plan
14. Conduct own research
Market Research (Sources)
Trade Publications (Sources)
Broad-based Business Consulting Services
Direct Selling (Non-store Retailing)
15. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Merchandisi
Paths for Buyers
Gross Margin Percentage (Dollar Merchandise Plan)
Breadt
16. Sales records - Sales people
Using Resident Buying Offices (Sources)
Trade Publications (Sources)
In-store Success (Sources
Open-to-buy (Dollar Merchandise Plan)
17. Cotton Inc. - Wool Bureau
Resident Buyer
New York (Market Centers)
Paris (Global Fashion Centers)
Trade Associations (Sources)
18. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Open-to-buy (Dollar Merchandise Plan)
Shortage (Dollar Merchandise Plan)
Publicity
Buyer (Retail Merchandising)
19. Small specialized store of a department store
Business Consultant's Services
Vendors (Sources)
Twig (Classifications; Department Store)
In-store Success (Sources
20. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Management Consultants (Consulting Services)
Tokyo (Global Fashion Centers
Store Owned Organizations (Product Development Organizations
Minor Fashion Industries (Global Fashion Centers)
21. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
De
Gross Margin Percentage (Dollar Merchandise Plan)
Store Owner (Path for Buyers)
22. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Stylist
Market Research (Sources)
OB
Shopping the Stores (Sources)
23. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Reporting Services (Sources)
Private Label
Discount Store (Specialty)
Store within a Store
24. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Overbought
Catalog/Mail Order (Non-store Retai
Reporting Services (Sources)
Shopping the Stores (Sources)
25. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Market Research (Sources)
Minor Fashion Industries (Global Fashion Centers)
Merchandise/Promotional (Advertising)
New York (Market Centers)
26. Quantity of different items offered
Breadt
De
Buyers Attend Market
Market
27. Door-to-door or house parties
Sources of Merchandise (Buying)
Direct Selling (Non-store Retailing)
Specialty Store
Advertising
28. Small area within a store for designers or popular manufacturers
In-store Boutique
Los Angeles
Look at offerings and need out and refine their line
Shortage (Dollar Merchandise Plan)
29. Pay a fee for what are supposed to be wholesale prices
Twig (Classifications; Department Store)
Market Research (Sources)
Wholesale Warehouse Clubs (Specialty)
Factors to be Considered in Editing (Buying)
30. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Using Resident Buying Offices (Sources)
Discount Store (Specialty)
Turnover (Dollar Merchandise Plan)
Personal Shopper
31. Management consultants - Technical consultants - Import and export consultants
Resident Buyer (Path for Buyers)
Broad-based Business Consulting Services
Independently Owed (Product Development Organizations)
Direct Selling (Non-store Retailing)
32. People who shop for clients
Two basic kinds of ratail advertising
Personal Shopper
De
Business Consultant's Services
33. Mass - staples
Publicity
Using Resident Buying Offices (Sources)
Product Development
Tokyo (Global Fashion Centers
34. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Twig (Classifications; Department Store)
Buyer (Retail Merchandising)
Merchandisi
35. Manufacturers Attend Market to...
Tokyo (Global Fashion Centers
Private Label
Using Resident Buying Offices (Sources)
Look at offerings and need out and refine their line
36. Larger orders may allow for...
Specialized Store Buyer (Path for Buyers)
Publicity
Lower prices
Advertising
37. Merchandising offerings - Appropriate for customers
Hypermarkets (Specialty
Flagship (Classifications; Department Store)
Department Store (Characteristics)
Factors in Selecting a Resource (Buying
38. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Store Owned Organizations (Product Development Organizations
Regional Marts
Costume Designe
39. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Department Store (Characteristics)
Branch (Classifications; Department Store
Resident Buyer (Path for Buyers)
Factors to be Considered in Editing (Buying)
40. Chain
Resident Buyer (Path for Buyers)
Central Buyer (Path for Buyers)
In-store Boutique
Buyers Attend Market
41. Compare what is available from the competition
Sources of Information (Retail Merchandising)
Shopping the Stores (Sources)
Breadt
Reporting Services (Sources)
42. 2nd largest leasing space available
Lower prices
Specialized Store Buyer (Path for Buyers)
Overbought
Los Angeles
43. Located in market
Branch (Classifications; Department Store
Using Resident Buying Offices (Sources)
Elements of Dollar Merchandize Plan
Merchandise Assortment Planning
44. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Shopping the Stores (Sources)
Limitations of regional marts
Store Ownership Group
45. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Catalog Showroom (Specialty)
Breadt
Personal Shopper
Merchandise Assortment Planning
46. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Trade Associations (Sources)
Store Ownership Group
Terms to be Negotiated (Buying)
OB
47. Focuses on a particular item or product
Personal Shopper
Store within a Store
Overbought
Promotio
48. Focuses on the business itself
Image (Promotion)
Market
Buyer (Retail Merchandising)
Dallas
49. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Merchandise Assortment Planning
Direct Selling (Non-store Retailing)
Business Consultant's Services
Market
50. Selling responsibilities
Milan (Global Fashion Centers)
Specialized Store Buyer (Path for Buyers)
Look at offerings and need out and refine their line
De