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Test your basic knowledge |
Fashion Merchandizing
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Subjects
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business-skills
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industries
Instructions:
Answer 50 questions in 15 minutes.
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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. Variety of low priced merchandise
Overbought
Turnover (Dollar Merchandise Plan)
Broad-based Business Consulting Services
Variety Store (Specialty)
2. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Product Development
Two basic kinds of ratail advertising
Resident Buyer
Store Owned Organizations (Product Development Organizations
3. Cotton Inc. - Wool Bureau
Milan (Global Fashion Centers)
Trade Associations (Sources)
De
Branch (Classifications; Department Store
4. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Store Owned Organizations (Product Development Organizations
Specialty Store
Factory Outlet (Specialty)
Open-to-buy (Dollar Merchandise Plan)
5. Quantity of different items offered
Catalog/Mail Order (Non-store Retai
De
Stylist
Turnover (Dollar Merchandise Plan)
6. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Product Development
Market Research (Sources)
Reporting Services (Sources)
Trade Publications (Sources)
7. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Flagship (Classifications; Department Store)
Specialty Store
Sources of Merchandise (Buying)
Two basic kinds of ratail advertising
8. Responsible for establishing the store's image
Sources of Merchandise (Buying)
Overbought
Buyer (Merchandising; Retail Stores)
GMM (Merchandising; Retail Stores)
9. Order from catalog and pick up immediately
Reporting Services (Sources)
Open-to-buy (Dollar Merchandise Plan)
Factors to be Considered in Editing (Buying)
Catalog Showroom (Specialty)
10. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Branch (Classifications; Department Store
Buyer (Retail Merchandising)
Overbought
In-store Boutique
11. Small specialized store of a department store
GMM (Merchandising; Retail Stores)
Twig (Classifications; Department Store)
Business Consultant's Services
Terms to be Negotiated (Buying)
12. Focuses on the business itself
Specialized Store Buyer (Path for Buyers)
Image (Promotion)
New York (Market Centers)
Reporting Services (Sources)
13. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Minor Fashion Industries (Global Fashion Centers)
Merchandisi
Merchandise Assortment Planning
Wholesale Warehouse Clubs (Specialty)
14. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
GMM (Merchandising; Retail Stores)
Factors to be Considered in Editing (Buying)
Image (Advertising)
Gross Margin Percentage (Dollar Merchandise Plan)
15. Manufacturers Attend Market to...
Look at offerings and need out and refine their line
Regional Marts
Terms to be Negotiated (Buying)
Publicity
16. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Los Angeles
Specialty Store
In-store Success (Sources
Discount Store (Specialty)
17. Small operation
Dollar Merchandise Plan
Trade Associations (Sources)
Franchise
Store Owner (Path for Buyers)
18. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Factory Outlet (Specialty)
Variety Store (Specialty)
In-store Success (Sources
Store within a Store
19. Ads; focuses on business itself
In-store Success (Sources
Direct Selling (Non-store Retailing)
Private Label
Image (Advertising)
20. Large number of resources centered in 7th Avenue area - Largest and most important domestically
OB
Store within a Store
New York (Market Centers)
Chain Store
21. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Catalog/Mail Order (Non-store Retai
Store Owner (Path for Buyers)
Department Store (Characteristics)
Publicity
22. 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
Twig (Classifications; Department Store)
New York (Market Centers)
Product Development
23. Small area within a store for designers or popular manufacturers
In-store Boutique
Confined merchandis
Flagship (Classifications; Department Store)
Merchandise Assortment Planning
24. 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
Gross Margin Percentage (Dollar Merchandise Plan)
Regional Marts
Elements of Dollar Merchandize Plan
Store Ownership Group
25. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Promotio
Merchandise Assortment Planning
Elements of Dollar Merchandize Plan
Gross Margin Percentage (Dollar Merchandise Plan)
26. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Gross Margin Percentage (Dollar Merchandise Plan)
Confined merchandis
Reporting Services (Sources)
Resident Buyer (Path for Buyers)
27. Merchandising offerings - Appropriate for customers
Paths for Buyers
Factors in Selecting a Resource (Buying
Specialized Store Buyer (Path for Buyers)
GMM (Merchandising; Retail Stores)
28. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Paths for Buyers
Merchandise/Promotional (Advertising)
Stylist
Image (Advertising)
29. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Independently owned services
Dollar Merchandise Plan
In-store Boutique
Open-to-buy (Dollar Merchandise Plan)
30. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Merchandisi
Image (Promotion)
Department Store (Characteristics)
Advertising
31. When merchandise (inventory and ordered) is GREATER than need
Independently owned services
De
Look at offerings and need out and refine their line
Overbought
32. Regional center for bridal - evening wear
Dallas
Using Resident Buying Offices (Sources)
OB
Central Buyer (Path for Buyers)
33. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Store within a Store
DMM (Merchandising; Retail Store
Buyer (Retail Merchandising)
Terms to be Negotiated (Buying)
34. Door-to-door or house parties
Turnover (Dollar Merchandise Plan)
Direct Selling (Non-store Retailing)
Market Wee
Paris (Global Fashion Centers)
35. Buying - selling - and planning of merchandise
Branch (Classifications; Department Store
In-store Boutique
Merchandisi
Factors to be Considered in Editing (Buying)
36. Market area - Assists specialized (central) buyer
Merchandise Assortment Planning
Limitations of regional marts
Gross Margin Percentage (Dollar Merchandise Plan)
Resident Buyer (Path for Buyers)
37. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Store Ownership Group
Independently Owed (Product Development Organizations)
Promotio
Terms to be Negotiated (Buying)
38. Sales records - Sales people
In-store Success (Sources
Merchandise Assortment Planning
In-store Boutique
Hypermarkets (Specialty
39. Where store execs are housed
Dollar Merchandise Plan
Some samples may never be mass produced
Wholesale Warehouse Clubs (Specialty)
Flagship (Classifications; Department Store)
40. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Sources of Information (Retail Merchandising)
Market Wee
Sources of Merchandise (Buying)
Buyers Attend Market
41. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Catalog/Mail Order (Non-store Retai
Wholesale Warehouse Clubs (Specialty)
Specialized Store Buyer (Path for Buyers)
Buyers Attend Market
42. Focus specifically on product
Paths for Buyers
Independently owned services
Merchandise/Promotional (Advertising)
Image (Advertising)
43. Focuses on management and market research
Merchandisi
Management Consultants (Consulting Services)
Tokyo (Global Fashion Centers
Paths for Buyers
44. Current information on trends
Reporting Services (Sources)
Stylist
Advertising
Regional Marts
45. People who shop for clients
Some samples may never be mass produced
Milan (Global Fashion Centers)
Private Label
Personal Shopper
46. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Regional Marts
Look at offerings and need out and refine their line
Management Consultants (Consulting Services)
Sources of Merchandise (Buying)
47. Specialize in brand and designer name clothing at discounted prices
Los Angeles
Store Owned Organizations (Product Development Organizations
Breadt
Off-Price Store (Specialty)
48. Responsible for a department/area
In-store Boutique
Minor Fashion Industries (Global Fashion Centers)
Product Development
Buyer (Merchandising; Retail Stores)
49. Focuses on a particular item or product
Some samples may never be mass produced
Store Owned Organizations (Product Development Organizations
Resident Buyer
Promotio
50. 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
Promotio
Private Label
Personal Shopper
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