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Test your basic knowledge |
Fashion Merchandizing
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Subjects
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business-skills
,
industries
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
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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. Compare what is available from the competition
Overbought
Los Angeles
Shopping the Stores (Sources)
Personal Shopper
2. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Dallas
Paris (Global Fashion Centers)
Specialty Store
Sources of Information (Retail Merchandising)
3. Ads; focuses on business itself
Market Wee
Store Owner (Path for Buyers)
Paris (Global Fashion Centers)
Image (Advertising)
4. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Wholesale Warehouse Clubs (Specialty)
DMM (Merchandising; Retail Store
Paths for Buyers
5. Number of different items offered
Shortage (Dollar Merchandise Plan)
Tokyo (Global Fashion Centers
Buyers Attend Market
Breadt
6. Cotton Inc. - Wool Bureau
Trade Associations (Sources)
Image (Advertising)
Factors to be Considered in Editing (Buying)
Catalog/Mail Order (Non-store Retai
7. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Store Ownership Group
Catalog Showroom (Specialty)
Market Research (Sources)
Elements of Dollar Merchandize Plan
8. Most aware of what is selling (bias)
Vendors (Sources)
Turnover (Dollar Merchandise Plan)
Image (Advertising)
Chain Store
9. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Sources of Information (Retail Merchandising)
Using Resident Buying Offices (Sources)
DMM (Merchandising; Retail Store
Merchandise/Promotional (Advertising)
10. Focus specifically on product
Image (Advertising)
Elements of Dollar Merchandize Plan
Limitations of regional marts
Merchandise/Promotional (Advertising)
11. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Dallas
Factors to be Considered in Editing (Buying)
Confined merchandis
Central Buyer (Path for Buyers)
12. Menswear
Resident Buyer (Path for Buyers)
London (Global Fashion Centers)
Reporting Services (Sources)
Overbought
13. Pay a fee for what are supposed to be wholesale prices
Tokyo (Global Fashion Centers
Wholesale Warehouse Clubs (Specialty)
Buyer (Retail Merchandising)
Direct Selling (Non-store Retailing)
14. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Franchise
Central Buyer (Path for Buyers)
Merchandisi
Buyer (Merchandising; Retail Stores)
15. 2nd largest leasing space available
Los Angeles
Two basic kinds of ratail advertising
Dallas
Limitations of regional marts
16. Selling responsibilities
Specialized Store Buyer (Path for Buyers)
Open-to-buy (Dollar Merchandise Plan)
Factors in Selecting a Resource (Buying
In-store Boutique
17. 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
Merchandise Assortment Planning
Lower prices
Store Owned Organizations (Product Development Organizations
Buyers Attend Market
18. 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
Resident Buyer
Buyer (Merchandising; Retail Stores)
Factory Outlet (Specialty)
Some samples may never be mass produced
19. Chain
Central Buyer (Path for Buyers)
Store within a Store
Tokyo (Global Fashion Centers
Market Wee
20. Small operation
Store Owner (Path for Buyers)
Sources of Information (Retail Merchandising)
Dollar Merchandise Plan
Minor Fashion Industries (Global Fashion Centers)
21. Management consultants - Technical consultants - Import and export consultants
Direct Selling (Non-store Retailing)
Overbought
Broad-based Business Consulting Services
Buyers Attend Market
22. Responsible for establishing the store's image
Personal Shopper
GMM (Merchandising; Retail Stores)
Costume Designe
Reporting Services (Sources)
23. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Costume Designe
Dollar Merchandise Plan
Specialty Store
Two basic kinds of ratail advertising
24. Small specialized store of a department store
Vendors (Sources)
Direct Selling (Non-store Retailing)
Branch (Classifications; Department Store
Twig (Classifications; Department Store)
25. Merchandising offerings - Appropriate for customers
Breadt
Catalog Showroom (Specialty)
Factors in Selecting a Resource (Buying
Lower prices
26. Responsible for several areas
Management Consultants (Consulting Services)
Flagship (Classifications; Department Store)
Overbought
DMM (Merchandising; Retail Store
27. Manufacturers Attend Market to...
OB
Store within a Store
In-store Boutique
Look at offerings and need out and refine their line
28. Order from catalog and pick up immediately
Factors to be Considered in Editing (Buying)
Look at offerings and need out and refine their line
Catalog Showroom (Specialty)
Turnover (Dollar Merchandise Plan)
29. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Turnover (Dollar Merchandise Plan)
De
Image (Promotion)
Management Consultants (Consulting Services)
30. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Los Angeles
Dollar Merchandise Plan
Turnover (Dollar Merchandise Plan)
Terms to be Negotiated (Buying)
31. Not paid for by the retailer and the retailer doesn't have control over what is said
Minor Fashion Industries (Global Fashion Centers)
Off-Price Store (Specialty)
Publicity
Sources of Merchandise (Buying)
32. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Sources of Merchandise (Buying)
GMM (Merchandising; Retail Stores)
Store Ownership Group
Lower prices
33. Image Merchandise/promotional -advertising agencies bid for client accounts
Resident Buyer (Path for Buyers)
Electronic Retailing (Non-store Retailing)
Two basic kinds of ratail advertising
Discount Store (Specialty)
34. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Factors in Selecting a Resource (Buying
Specialized Store Buyer (Path for Buyers)
Factory Outlet (Specialty)
Dollar Merchandise Plan
35. Germany - Spain - Eastern Block
Milan (Global Fashion Centers)
Reporting Services (Sources)
OB
Minor Fashion Industries (Global Fashion Centers)
36. 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
Market Research (Sources)
Independently Owed (Product Development Organizations)
In-store Success (Sources
Resident Buyer
37. Shoplifting - internal theft - inaccurate records
Franchise
Shortage (Dollar Merchandise Plan)
Open-to-buy (Dollar Merchandise Plan)
Private Label
38. Television or computer shopping
Buyers Attend Market
Paths for Buyers
Broad-based Business Consulting Services
Electronic Retailing (Non-store Retailing)
39. Develops clothing for actors in plays - movies - and television
Costume Designe
London (Global Fashion Centers)
Gross Margin Percentage (Dollar Merchandise Plan)
Independently Owed (Product Development Organizations)
40. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Turnover (Dollar Merchandise Plan)
Sources of Merchandise (Buying)
Merchandise/Promotional (Advertising)
Shortage (Dollar Merchandise Plan)
41. Market area - Assists specialized (central) buyer
Resident Buyer (Path for Buyers)
Reporting Services (Sources)
Elements of Dollar Merchandize Plan
Paths for Buyers
42. Sales records - Sales people
De
In-store Success (Sources
Store within a Store
Los Angeles
43. Sourcing - Logistics related to - importing - Managing information systems
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44. Typically 6 months prior to season
Turnover (Dollar Merchandise Plan)
Confined merchandis
Specialized Store Buyer (Path for Buyers)
Market Wee
45. When merchandise (inventory and ordered) is GREATER than need
London (Global Fashion Centers)
Merchandisi
Overbought
Management Consultants (Consulting Services)
46. Focuses on management and market research
DMM (Merchandising; Retail Store
Store within a Store
Elements of Dollar Merchandize Plan
Management Consultants (Consulting Services)
47. People who shop for clients
Personal Shopper
Market Wee
Flagship (Classifications; Department Store)
Paths for Buyers
48. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
GMM (Merchandising; Retail Stores)
Hypermarkets (Specialty
Business Consultant's Services
Shortage (Dollar Merchandise Plan)
49. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Discount Store (Specialty)
Resident Buyer (Path for Buyers)
Open-to-buy (Dollar Merchandise Plan)
Los Angeles
50. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Buyer (Retail Merchandising)
Some samples may never be mass produced
Buyer (Merchandising; Retail Stores)
Costume Designe
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