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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. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Off-Price Store (Specialty)
Department Store (Characteristics)
Factors to be Considered in Editing (Buying)
Merchandise Assortment Planning
2. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Paris (Global Fashion Centers)
Franchise
Resident Buyer
Direct Selling (Non-store Retailing)
3. Larger orders may allow for...
Catalog Showroom (Specialty)
Sources of Information (Retail Merchandising)
Department Store (Characteristics)
Lower prices
4. Ads; focuses on business itself
Resident Buyer (Path for Buyers)
Chain Store
Tokyo (Global Fashion Centers
Image (Advertising)
5. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Shopping the Stores (Sources)
Catalog Showroom (Specialty)
Catalog/Mail Order (Non-store Retai
Resident Buyer (Path for Buyers)
6. Most aware of what is selling (bias)
DMM (Merchandising; Retail Store
Factory Outlet (Specialty)
Vendors (Sources)
Independently owned services
7. Variety of low priced merchandise
Central Buyer (Path for Buyers)
Discount Store (Specialty)
Variety Store (Specialty)
Hypermarkets (Specialty
8. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Look at offerings and need out and refine their line
In-store Success (Sources
Image (Promotion)
Elements of Dollar Merchandize Plan
9. Cotton Inc. - Wool Bureau
Management Consultants (Consulting Services)
Promotio
Tokyo (Global Fashion Centers
Trade Associations (Sources)
10. Chain
Merchandisi
Central Buyer (Path for Buyers)
Shopping the Stores (Sources)
Factory Outlet (Specialty)
11. Store owner - Specialized store buyer - Central buyer - Resident buyer
Paths for Buyers
Product Development
Branch (Classifications; Department Store
Merchandise/Promotional (Advertising)
12. 2nd largest leasing space available
Los Angeles
Open-to-buy (Dollar Merchandise Plan)
Lower prices
Regional Marts
13. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Dallas
Open-to-buy (Dollar Merchandise Plan)
Two basic kinds of ratail advertising
Wholesale Warehouse Clubs (Specialty)
14. Sales records - Sales people
In-store Success (Sources
Limitations of regional marts
Image (Promotion)
Specialty Store
15. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Variety Store (Specialty)
Market
Buyers Attend Market
Personal Shopper
16. Mass - staples
Gross Margin Percentage (Dollar Merchandise Plan)
Tokyo (Global Fashion Centers
Direct Selling (Non-store Retailing)
OB
17. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
Vendors (Sources)
Factors in Selecting a Resource (Buying
Minor Fashion Industries (Global Fashion Centers)
18. 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
Shortage (Dollar Merchandise Plan)
Image (Promotion)
London (Global Fashion Centers)
Regional Marts
19. Buying - selling - and planning of merchandise
Merchandisi
Look at offerings and need out and refine their line
Gross Margin Percentage (Dollar Merchandise Plan)
Catalog/Mail Order (Non-store Retai
20. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Store Ownership Group
Market
Vendors (Sources)
Sources of Information (Retail Merchandising)
21. 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
Some samples may never be mass produced
Overbought
Wholesale Warehouse Clubs (Specialty)
Independently owned services
22. Responsible for several areas
Costume Designe
Elements of Dollar Merchandize Plan
DMM (Merchandising; Retail Store
GMM (Merchandising; Retail Stores)
23. Order from catalog and pick up immediately
Independently owned services
Catalog Showroom (Specialty)
Market Research (Sources)
Catalog/Mail Order (Non-store Retai
24. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Sources of Information (Retail Merchandising)
Trade Publications (Sources)
Image (Advertising)
Gross Margin Percentage (Dollar Merchandise Plan)
25. Small specialized store of a department store
Specialized Store Buyer (Path for Buyers)
Twig (Classifications; Department Store)
Store Ownership Group
Promotio
26. Focuses on the business itself
Turnover (Dollar Merchandise Plan)
Confined merchandis
New York (Market Centers)
Image (Promotion)
27. Not paid for by the retailer and the retailer doesn't have control over what is said
Vendors (Sources)
Resident Buyer
DMM (Merchandising; Retail Store
Publicity
28. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Factors to be Considered in Editing (Buying)
Electronic Retailing (Non-store Retailing)
Reporting Services (Sources)
29. Sourcing - Logistics related to - importing - Managing information systems
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30. Specialize in brand and designer name clothing at discounted prices
Off-Price Store (Specialty)
Wholesale Warehouse Clubs (Specialty)
Overbought
Open-to-buy (Dollar Merchandise Plan)
31. 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
Store Ownership Group
Chain Store
New York (Market Centers)
Store within a Store
32. Market area - Assists specialized (central) buyer
Resident Buyer (Path for Buyers)
Regional Marts
Buyers Attend Market
Department Store (Characteristics)
33. 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
Regional Marts
Discount Store (Specialty)
Resident Buyer
Catalog Showroom (Specialty)
34. Typically 6 months prior to season
Buyer (Retail Merchandising)
Direct Selling (Non-store Retailing)
Market Wee
Store Ownership Group
35. Regional center for bridal - evening wear
Catalog/Mail Order (Non-store Retai
Hypermarkets (Specialty
Specialty Store
Dallas
36. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
De
Dollar Merchandise Plan
Overbought
Store within a Store
37. Selling responsibilities
Merchandise/Promotional (Advertising)
Advertising
Elements of Dollar Merchandize Plan
Specialized Store Buyer (Path for Buyers)
38. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Private Label
Specialty Store
Hypermarkets (Specialty
Los Angeles
39. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Terms to be Negotiated (Buying)
London (Global Fashion Centers)
Costume Designe
OB
40. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Independently Owed (Product Development Organizations)
Store within a Store
Gross Margin Percentage (Dollar Merchandise Plan)
Dallas
41. Menswear
Stylist
Reporting Services (Sources)
London (Global Fashion Centers)
Trade Associations (Sources)
42. WWD - DNR - stores (consumer fashion magazines)
Trade Publications (Sources)
Look at offerings and need out and refine their line
Buyers Attend Market
Product Development
43. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Lower prices
Discount Store (Specialty)
Factors in Selecting a Resource (Buying
44. Store's own label for career and casual sportswear; prices vary (better to moderate)
De
Private Label
Catalog Showroom (Specialty)
Product Development
45. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Tokyo (Global Fashion Centers
Stylist
New York (Market Centers)
Independently Owed (Product Development Organizations)
46. Must be selected for membership - All couture houses do custom dressmaking but also have ready-to-wear line
Paris (Global Fashion Centers)
Specialized Store Buyer (Path for Buyers)
Electronic Retailing (Non-store Retailing)
Market Wee
47. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Discount Store (Specialty)
Gross Margin Percentage (Dollar Merchandise Plan)
Buyer (Retail Merchandising)
Minor Fashion Industries (Global Fashion Centers)
48. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Market Wee
Broad-based Business Consulting Services
Department Store (Characteristics)
Store Ownership Group
49. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Specialty Store
Milan (Global Fashion Centers)
Store within a Store
Store Owner (Path for Buyers)
50. Television or computer shopping
Sources of Information (Retail Merchandising)
Stylist
Off-Price Store (Specialty)
Electronic Retailing (Non-store Retailing)