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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. Store's own label for career and casual sportswear; prices vary (better to moderate)
Advertising
Breadt
Paris (Global Fashion Centers)
Private Label
2. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Image (Advertising)
Discount Store (Specialty)
Dollar Merchandise Plan
Buyer (Retail Merchandising)
3. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Factory Outlet (Specialty)
Trade Publications (Sources)
Breadt
Sources of Information (Retail Merchandising)
4. When merchandise (inventory and ordered) is GREATER than need
Sources of Merchandise (Buying)
Two basic kinds of ratail advertising
Overbought
Milan (Global Fashion Centers)
5. Variety of low priced merchandise
Product Development
Two basic kinds of ratail advertising
Variety Store (Specialty)
Market Wee
6. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Using Resident Buying Offices (Sources)
Flagship (Classifications; Department Store)
Look at offerings and need out and refine their line
Factory Outlet (Specialty)
7. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Dallas
Tokyo (Global Fashion Centers
Hypermarkets (Specialty
Broad-based Business Consulting Services
8. 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
Off-Price Store (Specialty)
Some samples may never be mass produced
Breadt
Resident Buyer
9. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Using Resident Buying Offices (Sources)
Store Owned Organizations (Product Development Organizations
Milan (Global Fashion Centers)
Product Development
10. Buying - selling - and planning of merchandise
GMM (Merchandising; Retail Stores)
Open-to-buy (Dollar Merchandise Plan)
Terms to be Negotiated (Buying)
Merchandisi
11. 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
Regional Marts
Hypermarkets (Specialty
Vendors (Sources)
Resident Buyer
12. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Variety Store (Specialty)
Lower prices
New York (Market Centers)
Advertising
13. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Factors in Selecting a Resource (Buying
Costume Designe
Elements of Dollar Merchandize Plan
Two basic kinds of ratail advertising
14. Menswear
London (Global Fashion Centers)
Dallas
Sources of Merchandise (Buying)
Trade Associations (Sources)
15. Ads; focuses on business itself
Image (Advertising)
Promotio
Flagship (Classifications; Department Store)
Buyer (Retail Merchandising)
16. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Independently Owed (Product Development Organizations)
Market
Stylist
Store within a Store
17. Quantity of different items offered
De
Terms to be Negotiated (Buying)
Paths for Buyers
Merchandise Assortment Planning
18. Focuses on management and market research
Factors to be Considered in Editing (Buying)
Management Consultants (Consulting Services)
Paris (Global Fashion Centers)
Factory Outlet (Specialty)
19. 2nd largest leasing space available
Gross Margin Percentage (Dollar Merchandise Plan)
Shopping the Stores (Sources)
Los Angeles
Variety Store (Specialty)
20. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Off-Price Store (Specialty)
Some samples may never be mass produced
Shopping the Stores (Sources)
Open-to-buy (Dollar Merchandise Plan)
21. Focus specifically on product
Milan (Global Fashion Centers)
Personal Shopper
Merchandise/Promotional (Advertising)
Specialized Store Buyer (Path for Buyers)
22. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Two basic kinds of ratail advertising
Hypermarkets (Specialty
Department Store (Characteristics)
Discount Store (Specialty)
23. Current information on trends
Confined merchandis
Los Angeles
Reporting Services (Sources)
Merchandise Assortment Planning
24. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Twig (Classifications; Department Store)
Vendors (Sources)
Independently Owed (Product Development Organizations)
Buyer (Merchandising; Retail Stores)
25. Typically 6 months prior to season
Vendors (Sources)
In-store Boutique
Store within a Store
Market Wee
26. 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
Branch (Classifications; Department Store
Resident Buyer
Chain Store
Some samples may never be mass produced
27. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Resident Buyer
Discount Store (Specialty)
Trade Associations (Sources)
Merchandise Assortment Planning
28. Store owner - Specialized store buyer - Central buyer - Resident buyer
Paths for Buyers
Twig (Classifications; Department Store)
Franchise
Hypermarkets (Specialty
29. Most aware of what is selling (bias)
Vendors (Sources)
Paths for Buyers
Store within a Store
Off-Price Store (Specialty)
30. Germany - Spain - Eastern Block
Flagship (Classifications; Department Store)
Minor Fashion Industries (Global Fashion Centers)
Advertising
Store Ownership Group
31. Sourcing - Logistics related to - importing - Managing information systems
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32. 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
Branch (Classifications; Department Store
OB
Chain Store
Regional Marts
33. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Limitations of regional marts
DMM (Merchandising; Retail Store
Store Ownership Group
Regional Marts
34. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Department Store (Characteristics)
Paths for Buyers
Variety Store (Specialty)
Dallas
35. Store open another facility in a different location - often in suburbs
Hypermarkets (Specialty
Wholesale Warehouse Clubs (Specialty)
Market
Branch (Classifications; Department Store
36. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
In-store Success (Sources
Sources of Merchandise (Buying)
Image (Promotion)
In-store Boutique
37. Focuses on a particular item or product
Costume Designe
Reporting Services (Sources)
Dollar Merchandise Plan
Promotio
38. Merchandising offerings - Appropriate for customers
Overbought
Terms to be Negotiated (Buying)
Factors in Selecting a Resource (Buying
Management Consultants (Consulting Services)
39. Conduct own research
Store Owner (Path for Buyers)
Los Angeles
Market Research (Sources)
Broad-based Business Consulting Services
40. Selling responsibilities
Specialized Store Buyer (Path for Buyers)
Central Buyer (Path for Buyers)
In-store Success (Sources
Promotio
41. Pay a fee for what are supposed to be wholesale prices
Catalog Showroom (Specialty)
Wholesale Warehouse Clubs (Specialty)
Open-to-buy (Dollar Merchandise Plan)
Breadt
42. Larger orders may allow for...
Gross Margin Percentage (Dollar Merchandise Plan)
Buyer (Merchandising; Retail Stores)
Tokyo (Global Fashion Centers
Lower prices
43. Small operation
Store Owner (Path for Buyers)
OB
Catalog Showroom (Specialty)
Buyers Attend Market
44. 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
Shortage (Dollar Merchandise Plan)
Buyers Attend Market
Merchandise Assortment Planning
Limitations of regional marts
45. Sales records - Sales people
Elements of Dollar Merchandize Plan
Store Owner (Path for Buyers)
Regional Marts
In-store Success (Sources
46. Image Merchandise/promotional -advertising agencies bid for client accounts
Sources of Merchandise (Buying)
Publicity
Two basic kinds of ratail advertising
Terms to be Negotiated (Buying)
47. Management consultants - Technical consultants - Import and export consultants
Central Buyer (Path for Buyers)
OB
Merchandise/Promotional (Advertising)
Broad-based Business Consulting Services
48. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Store Owned Organizations (Product Development Organizations
Independently Owed (Product Development Organizations)
Store Owner (Path for Buyers)
Confined merchandis
49. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Catalog/Mail Order (Non-store Retai
Franchise
Market Research (Sources)
Hypermarkets (Specialty
50. Specialize in brand and designer name clothing at discounted prices
Independently Owed (Product Development Organizations)
Promotio
Store within a Store
Off-Price Store (Specialty)