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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.
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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. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Paris (Global Fashion Centers)
Buyer (Merchandising; Retail Stores)
Elements of Dollar Merchandize Plan
Off-Price Store (Specialty)
2. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Sources of Merchandise (Buying)
London (Global Fashion Centers)
Flagship (Classifications; Department Store)
Store Owned Organizations (Product Development Organizations
3. Store open another facility in a different location - often in suburbs
Branch (Classifications; Department Store
Advertising
Buyer (Merchandising; Retail Stores)
Sources of Information (Retail Merchandising)
4. Money left to buy- when merchandise NEEDS to exceed merchandise available
Market Research (Sources)
Specialty Store
Merchandisi
OB
5. Not paid for by the retailer and the retailer doesn't have control over what is said
Specialized Store Buyer (Path for Buyers)
Publicity
Resident Buyer (Path for Buyers)
OB
6. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Product Development
Catalog/Mail Order (Non-store Retai
Buyer (Retail Merchandising)
Terms to be Negotiated (Buying)
7. Responsible for several areas
Milan (Global Fashion Centers)
Overbought
DMM (Merchandising; Retail Store
Image (Promotion)
8. WWD - DNR - stores (consumer fashion magazines)
Shortage (Dollar Merchandise Plan)
Merchandise Assortment Planning
Trade Publications (Sources)
Personal Shopper
9. Germany - Spain - Eastern Block
Minor Fashion Industries (Global Fashion Centers)
Vendors (Sources)
Using Resident Buying Offices (Sources)
Image (Promotion)
10. Merchandising - Buying - Product Development Organizations
Two basic kinds of ratail advertising
Independently owned services
Dollar Merchandise Plan
Store Owned Organizations (Product Development Organizations
11. Compare what is available from the competition
Shopping the Stores (Sources)
Franchise
Variety Store (Specialty)
Los Angeles
12. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Market Research (Sources)
Department Store (Characteristics)
Flagship (Classifications; Department Store)
Dallas
13. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Catalog/Mail Order (Non-store Retai
De
Tokyo (Global Fashion Centers
Business Consultant's Services
14. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Regional Marts
Reporting Services (Sources)
Independently owned services
Dollar Merchandise Plan
15. Sales records - Sales people
In-store Success (Sources
London (Global Fashion Centers)
Broad-based Business Consulting Services
Promotio
16. Image Merchandise/promotional -advertising agencies bid for client accounts
Specialized Store Buyer (Path for Buyers)
Breadt
Franchise
Two basic kinds of ratail advertising
17. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Department Store (Characteristics)
Trade Publications (Sources)
Private Label
Advertising
18. Focus specifically on product
Factory Outlet (Specialty)
Store Owner (Path for Buyers)
Merchandise/Promotional (Advertising)
Gross Margin Percentage (Dollar Merchandise Plan)
19. Typically 6 months prior to season
Breadt
Market Wee
Independently Owed (Product Development Organizations)
Buyers Attend Market
20. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Merchandise Assortment Planning
Stylist
Sources of Merchandise (Buying)
De
21. Variety of low priced merchandise
Franchise
Variety Store (Specialty)
Independently Owed (Product Development Organizations)
Shortage (Dollar Merchandise Plan)
22. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Store Owned Organizations (Product Development Organizations
Product Development
Terms to be Negotiated (Buying)
Dollar Merchandise Plan
23. Most aware of what is selling (bias)
Vendors (Sources)
Branch (Classifications; Department Store
Market Research (Sources)
Business Consultant's Services
24. Pay a fee for what are supposed to be wholesale prices
Wholesale Warehouse Clubs (Specialty)
Market
Buyer (Retail Merchandising)
In-store Success (Sources
25. 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
Buyer (Merchandising; Retail Stores)
Two basic kinds of ratail advertising
Some samples may never be mass produced
Specialized Store Buyer (Path for Buyers)
26. Manufacturers Attend Market to...
Publicity
Look at offerings and need out and refine their line
Terms to be Negotiated (Buying)
Personal Shopper
27. Focuses on a particular item or product
Catalog Showroom (Specialty)
Promotio
Publicity
Trade Associations (Sources)
28. Regional center for bridal - evening wear
Confined merchandis
Franchise
In-store Success (Sources
Dallas
29. Mass - staples
Wholesale Warehouse Clubs (Specialty)
Tokyo (Global Fashion Centers
Central Buyer (Path for Buyers)
Factors to be Considered in Editing (Buying)
30. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Resident Buyer (Path for Buyers)
Store within a Store
Dollar Merchandise Plan
Chain Store
31. Door-to-door or house parties
Sources of Information (Retail Merchandising)
Buyers Attend Market
Private Label
Direct Selling (Non-store Retailing)
32. Conduct own research
OB
Market Research (Sources)
Minor Fashion Industries (Global Fashion Centers)
Resident Buyer (Path for Buyers)
33. Ads; focuses on business itself
Image (Advertising)
Off-Price Store (Specialty)
Resident Buyer (Path for Buyers)
Hypermarkets (Specialty
34. Larger orders may allow for...
Store within a Store
Merchandisi
Los Angeles
Lower prices
35. Selling responsibilities
Franchise
Specialized Store Buyer (Path for Buyers)
Lower prices
Regional Marts
36. Focuses on management and market research
Management Consultants (Consulting Services)
In-store Boutique
Specialty Store
OB
37. Responsible for a department/area
Direct Selling (Non-store Retailing)
Buyer (Merchandising; Retail Stores)
Independently owned services
Variety Store (Specialty)
38. Shoplifting - internal theft - inaccurate records
Sources of Merchandise (Buying)
Dollar Merchandise Plan
Market Wee
Shortage (Dollar Merchandise Plan)
39. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Discount Store (Specialty)
OB
Vendors (Sources)
Reporting Services (Sources)
40. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Department Store (Characteristics)
Open-to-buy (Dollar Merchandise Plan)
Catalog/Mail Order (Non-store Retai
Market Wee
41. 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
Resident Buyer
Direct Selling (Non-store Retailing)
Trade Associations (Sources)
Using Resident Buying Offices (Sources)
42. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Specialty Store
Store Ownership Group
Wholesale Warehouse Clubs (Specialty)
Paths for Buyers
43. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Broad-based Business Consulting Services
Wholesale Warehouse Clubs (Specialty)
Elements of Dollar Merchandize Plan
Independently Owed (Product Development Organizations)
44. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
Turnover (Dollar Merchandise Plan)
Promotio
Branch (Classifications; Department Store
Merchandise Assortment Planning
45. Store owner - Specialized store buyer - Central buyer - Resident buyer
Paths for Buyers
Shortage (Dollar Merchandise Plan)
Direct Selling (Non-store Retailing)
Wholesale Warehouse Clubs (Specialty)
46. 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
Vendors (Sources)
Publicity
Catalog/Mail Order (Non-store Retai
Buyers Attend Market
47. Market area - Assists specialized (central) buyer
Reporting Services (Sources)
Independently owned services
Resident Buyer (Path for Buyers)
Branch (Classifications; Department Store
48. Chain
Factory Outlet (Specialty)
Central Buyer (Path for Buyers)
Dollar Merchandise Plan
New York (Market Centers)
49. 2nd largest leasing space available
Tokyo (Global Fashion Centers
Los Angeles
Catalog Showroom (Specialty)
DMM (Merchandising; Retail Store
50. People who shop for clients
Shortage (Dollar Merchandise Plan)
Personal Shopper
Specialized Store Buyer (Path for Buyers)
Catalog Showroom (Specialty)
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