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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. 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
Chain Store
Minor Fashion Industries (Global Fashion Centers)
Variety Store (Specialty)
Specialty Store
2. Most aware of what is selling (bias)
Direct Selling (Non-store Retailing)
Costume Designe
Vendors (Sources)
Merchandise Assortment Planning
3. Sourcing - Logistics related to - importing - Managing information systems
4. Compare what is available from the competition
Discount Store (Specialty)
Direct Selling (Non-store Retailing)
Shopping the Stores (Sources)
Off-Price Store (Specialty)
5. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Market Wee
Buyer (Retail Merchandising)
Stylist
Open-to-buy (Dollar Merchandise Plan)
6. 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
Department Store (Characteristics)
Merchandisi
Regional Marts
Hypermarkets (Specialty
7. Order from catalog and pick up immediately
Specialized Store Buyer (Path for Buyers)
Catalog Showroom (Specialty)
Image (Advertising)
Factory Outlet (Specialty)
8. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Look at offerings and need out and refine their line
Independently owned services
Stylist
Chain Store
9. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
DMM (Merchandising; Retail Store
Management Consultants (Consulting Services)
Sources of Information (Retail Merchandising)
Department Store (Characteristics)
10. Current information on trends
Product Development
Factory Outlet (Specialty)
Reporting Services (Sources)
Look at offerings and need out and refine their line
11. Responsible for establishing the store's image
Market Research (Sources)
Store within a Store
GMM (Merchandising; Retail Stores)
Off-Price Store (Specialty)
12. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Shortage (Dollar Merchandise Plan)
Store Owned Organizations (Product Development Organizations
Factors to be Considered in Editing (Buying)
Sources of Information (Retail Merchandising)
13. 2nd largest leasing space available
Store within a Store
Los Angeles
Sources of Information (Retail Merchandising)
Branch (Classifications; Department Store
14. Focuses on the business itself
Department Store (Characteristics)
Image (Promotion)
Resident Buyer (Path for Buyers)
Merchandisi
15. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Market Wee
Shortage (Dollar Merchandise Plan)
Flagship (Classifications; Department Store)
16. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Market
Independently owned services
Store Owned Organizations (Product Development Organizations
Franchise
17. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Limitations of regional marts
In-store Success (Sources
DMM (Merchandising; Retail Store
Open-to-buy (Dollar Merchandise Plan)
18. Manufacturers Attend Market to...
Look at offerings and need out and refine their line
Personal Shopper
Lower prices
Stylist
19. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Market Wee
Twig (Classifications; Department Store)
Paths for Buyers
Gross Margin Percentage (Dollar Merchandise Plan)
20. Management consultants - Technical consultants - Import and export consultants
Vendors (Sources)
Broad-based Business Consulting Services
Catalog Showroom (Specialty)
Some samples may never be mass produced
21. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Advertising
Specialty Store
Independently owned services
Twig (Classifications; Department Store)
22. Image Merchandise/promotional -advertising agencies bid for client accounts
In-store Success (Sources
Buyers Attend Market
Two basic kinds of ratail advertising
Image (Advertising)
23. Chain
Dollar Merchandise Plan
Central Buyer (Path for Buyers)
Sources of Information (Retail Merchandising)
Resident Buyer (Path for Buyers)
24. Conduct own research
Some samples may never be mass produced
Catalog Showroom (Specialty)
Tokyo (Global Fashion Centers
Market Research (Sources)
25. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Catalog/Mail Order (Non-store Retai
Resident Buyer
Broad-based Business Consulting Services
Buyer (Merchandising; Retail Stores)
26. Pay a fee for what are supposed to be wholesale prices
Los Angeles
Breadt
Wholesale Warehouse Clubs (Specialty)
Terms to be Negotiated (Buying)
27. Menswear
Product Development
Independently owned services
London (Global Fashion Centers)
Variety Store (Specialty)
28. Focus specifically on product
Chain Store
Breadt
Trade Publications (Sources)
Merchandise/Promotional (Advertising)
29. Mass - staples
Specialized Store Buyer (Path for Buyers)
Tokyo (Global Fashion Centers
Stylist
Catalog/Mail Order (Non-store Retai
30. Merchandising offerings - Appropriate for customers
Factors in Selecting a Resource (Buying
Independently owned services
Shopping the Stores (Sources)
Overbought
31. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Branch (Classifications; Department Store
Business Consultant's Services
Merchandise/Promotional (Advertising)
Factory Outlet (Specialty)
32. 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)
Elements of Dollar Merchandize Plan
Variety Store (Specialty)
Reporting Services (Sources)
33. Shoplifting - internal theft - inaccurate records
Shortage (Dollar Merchandise Plan)
Catalog/Mail Order (Non-store Retai
DMM (Merchandising; Retail Store
Factory Outlet (Specialty)
34. Cotton Inc. - Wool Bureau
Trade Associations (Sources)
Terms to be Negotiated (Buying)
Independently Owed (Product Development Organizations)
Flagship (Classifications; Department Store)
35. Number of different items offered
OB
Breadt
Image (Advertising)
Some samples may never be mass produced
36. People who shop for clients
Market Wee
Paris (Global Fashion Centers)
Store Owner (Path for Buyers)
Personal Shopper
37. Television or computer shopping
London (Global Fashion Centers)
Open-to-buy (Dollar Merchandise Plan)
Electronic Retailing (Non-store Retailing)
Dollar Merchandise Plan
38. Focuses on a particular item or product
Market
Promotio
Advertising
Buyers Attend Market
39. Focuses on management and market research
Store within a Store
Market Research (Sources)
Management Consultants (Consulting Services)
New York (Market Centers)
40. Italian fashion - Knits - Shoes - Menswear
Elements of Dollar Merchandize Plan
Milan (Global Fashion Centers)
Store Owned Organizations (Product Development Organizations
Private Label
41. Responsible for several areas
DMM (Merchandising; Retail Store
Vendors (Sources)
Resident Buyer
Image (Advertising)
42. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Store Owner (Path for Buyers)
Variety Store (Specialty)
Factors to be Considered in Editing (Buying)
Merchandise Assortment Planning
43. Located in market
Promotio
Milan (Global Fashion Centers)
Resident Buyer (Path for Buyers)
Using Resident Buying Offices (Sources)
44. Specialize in brand and designer name clothing at discounted prices
Resident Buyer (Path for Buyers)
Off-Price Store (Specialty)
New York (Market Centers)
In-store Boutique
45. Sales records - Sales people
In-store Success (Sources
Store within a Store
Management Consultants (Consulting Services)
Two basic kinds of ratail advertising
46. Regional center for bridal - evening wear
Flagship (Classifications; Department Store)
Image (Advertising)
Dallas
Merchandise/Promotional (Advertising)
47. Money left to buy- when merchandise NEEDS to exceed merchandise available
OB
Central Buyer (Path for Buyers)
Catalog/Mail Order (Non-store Retai
Buyer (Merchandising; Retail Stores)
48. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Confined merchandis
Paris (Global Fashion Centers)
Dallas
Franchise
49. Typically 6 months prior to season
Market Wee
Management Consultants (Consulting Services)
Specialty Store
Sources of Merchandise (Buying)
50. Store open another facility in a different location - often in suburbs
Branch (Classifications; Department Store
Dollar Merchandise Plan
Shopping the Stores (Sources)
Market Wee