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Test your basic knowledge |
Fashion Merchandizing
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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. Pay a fee for what are supposed to be wholesale prices
Wholesale Warehouse Clubs (Specialty)
OB
Broad-based Business Consulting Services
Breadt
2. Germany - Spain - Eastern Block
Minor Fashion Industries (Global Fashion Centers)
Wholesale Warehouse Clubs (Specialty)
Hypermarkets (Specialty
Shortage (Dollar Merchandise Plan)
3. Menswear
Buyers Attend Market
Costume Designe
London (Global Fashion Centers)
Sources of Merchandise (Buying)
4. Responsible for establishing the store's image
GMM (Merchandising; Retail Stores)
Vendors (Sources)
Look at offerings and need out and refine their line
Management Consultants (Consulting Services)
5. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Personal Shopper
Twig (Classifications; Department Store)
Store within a Store
Buyer (Merchandising; Retail Stores)
6. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Gross Margin Percentage (Dollar Merchandise Plan)
Confined merchandis
Branch (Classifications; Department Store
Catalog/Mail Order (Non-store Retai
7. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Hypermarkets (Specialty
Discount Store (Specialty)
Market
Wholesale Warehouse Clubs (Specialty)
8. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Shortage (Dollar Merchandise Plan)
Merchandisi
Factors in Selecting a Resource (Buying
Factory Outlet (Specialty)
9. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Independently Owed (Product Development Organizations)
In-store Boutique
Franchise
Market
10. Merchandising - Buying - Product Development Organizations
Independently owned services
Limitations of regional marts
Image (Advertising)
Trade Associations (Sources)
11. 2nd largest leasing space available
Trade Publications (Sources)
Los Angeles
Gross Margin Percentage (Dollar Merchandise Plan)
Market
12. Store owner - Specialized store buyer - Central buyer - Resident buyer
Turnover (Dollar Merchandise Plan)
Merchandise/Promotional (Advertising)
Reporting Services (Sources)
Paths for Buyers
13. Shoplifting - internal theft - inaccurate records
Merchandise/Promotional (Advertising)
Shortage (Dollar Merchandise Plan)
Factors in Selecting a Resource (Buying
Hypermarkets (Specialty
14. Larger orders may allow for...
Minor Fashion Industries (Global Fashion Centers)
Lower prices
Confined merchandis
Costume Designe
15. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Buyers Attend Market
Stylist
Independently Owed (Product Development Organizations)
Store Owner (Path for Buyers)
16. Compare what is available from the competition
Shopping the Stores (Sources)
Merchandise/Promotional (Advertising)
Look at offerings and need out and refine their line
Private Label
17. Variety of low priced merchandise
Electronic Retailing (Non-store Retailing)
Using Resident Buying Offices (Sources)
Variety Store (Specialty)
Store Owned Organizations (Product Development Organizations
18. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Central Buyer (Path for Buyers)
Business Consultant's Services
Vendors (Sources)
Open-to-buy (Dollar Merchandise Plan)
19. Italian fashion - Knits - Shoes - Menswear
Milan (Global Fashion Centers)
Merchandise Assortment Planning
Elements of Dollar Merchandize Plan
Dollar Merchandise Plan
20. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Store Owner (Path for Buyers)
Sources of Information (Retail Merchandising)
Broad-based Business Consulting Services
Confined merchandis
21. Cotton Inc. - Wool Bureau
Factors in Selecting a Resource (Buying
Trade Associations (Sources)
Resident Buyer
Using Resident Buying Offices (Sources)
22. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Franchise
Buyer (Merchandising; Retail Stores)
Tokyo (Global Fashion Centers
Buyer (Retail Merchandising)
23. Store's own label for career and casual sportswear; prices vary (better to moderate)
Private Label
Trade Publications (Sources)
Los Angeles
Catalog Showroom (Specialty)
24. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Twig (Classifications; Department Store)
Department Store (Characteristics)
Resident Buyer
Merchandisi
25. 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
Business Consultant's Services
Product Development
Buyers Attend Market
Reporting Services (Sources)
26. Not paid for by the retailer and the retailer doesn't have control over what is said
Branch (Classifications; Department Store
London (Global Fashion Centers)
Personal Shopper
Publicity
27. Current information on trends
Limitations of regional marts
Market Wee
Reporting Services (Sources)
Tokyo (Global Fashion Centers
28. Located in market
Using Resident Buying Offices (Sources)
Personal Shopper
Discount Store (Specialty)
Franchise
29. Focuses on the business itself
Elements of Dollar Merchandize Plan
Independently Owed (Product Development Organizations)
Electronic Retailing (Non-store Retailing)
Image (Promotion)
30. Television or computer shopping
Chain Store
London (Global Fashion Centers)
Electronic Retailing (Non-store Retailing)
Paths for Buyers
31. Conduct own research
Management Consultants (Consulting Services)
Market Research (Sources)
Turnover (Dollar Merchandise Plan)
Buyer (Merchandising; Retail Stores)
32. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Twig (Classifications; Department Store)
Merchandise Assortment Planning
Dallas
Costume Designe
33. Merchandising offerings - Appropriate for customers
Factors in Selecting a Resource (Buying
Turnover (Dollar Merchandise Plan)
Lower prices
Broad-based Business Consulting Services
34. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Paris (Global Fashion Centers)
Los Angeles
Tokyo (Global Fashion Centers
GMM (Merchandising; Retail Stores)
35. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Gross Margin Percentage (Dollar Merchandise Plan)
London (Global Fashion Centers)
Breadt
Elements of Dollar Merchandize Plan
36. Management consultants - Technical consultants - Import and export consultants
Twig (Classifications; Department Store)
Store Owner (Path for Buyers)
Broad-based Business Consulting Services
Trade Publications (Sources)
37. WWD - DNR - stores (consumer fashion magazines)
OB
Trade Publications (Sources)
Los Angeles
Business Consultant's Services
38. When merchandise (inventory and ordered) is GREATER than need
Breadt
Overbought
OB
Chain Store
39. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Turnover (Dollar Merchandise Plan)
Publicity
Direct Selling (Non-store Retailing)
Store Owned Organizations (Product Development Organizations
40. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Minor Fashion Industries (Global Fashion Centers)
Store Owner (Path for Buyers)
Terms to be Negotiated (Buying)
Look at offerings and need out and refine their line
41. Order from catalog and pick up immediately
Confined merchandis
Catalog Showroom (Specialty)
Product Development
Breadt
42. 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
Turnover (Dollar Merchandise Plan)
Shopping the Stores (Sources)
Some samples may never be mass produced
Buyer (Retail Merchandising)
43. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Catalog Showroom (Specialty)
Limitations of regional marts
New York (Market Centers)
Trade Associations (Sources)
44. Regional center for bridal - evening wear
Market
Dallas
Catalog/Mail Order (Non-store Retai
Vendors (Sources)
45. Door-to-door or house parties
Terms to be Negotiated (Buying)
Shopping the Stores (Sources)
Buyers Attend Market
Direct Selling (Non-store Retailing)
46. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
London (Global Fashion Centers)
Elements of Dollar Merchandize Plan
Direct Selling (Non-store Retailing)
47. Small operation
Minor Fashion Industries (Global Fashion Centers)
Trade Publications (Sources)
Store Owner (Path for Buyers)
Central Buyer (Path for Buyers)
48. Focuses on a particular item or product
Paris (Global Fashion Centers)
Store Owned Organizations (Product Development Organizations
Vendors (Sources)
Promotio
49. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Image (Promotion)
OB
Look at offerings and need out and refine their line
Sources of Merchandise (Buying)
50. Specialize in brand and designer name clothing at discounted prices
Store Owned Organizations (Product Development Organizations
Off-Price Store (Specialty)
Store within a Store
Discount Store (Specialty)
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