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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. Small operation
Electronic Retailing (Non-store Retailing)
Store Owner (Path for Buyers)
Trade Associations (Sources)
Independently owned services
2. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Specialty Store
Merchandisi
Minor Fashion Industries (Global Fashion Centers)
New York (Market Centers)
3. Television or computer shopping
Wholesale Warehouse Clubs (Specialty)
Resident Buyer (Path for Buyers)
Electronic Retailing (Non-store Retailing)
Milan (Global Fashion Centers)
4. Money left to buy- when merchandise NEEDS to exceed merchandise available
Independently Owed (Product Development Organizations)
Twig (Classifications; Department Store)
Catalog Showroom (Specialty)
OB
5. Selling responsibilities
Franchise
Dollar Merchandise Plan
Specialized Store Buyer (Path for Buyers)
Using Resident Buying Offices (Sources)
6. Quantity of different items offered
De
Department Store (Characteristics)
Costume Designe
Shortage (Dollar Merchandise Plan)
7. WWD - DNR - stores (consumer fashion magazines)
Catalog/Mail Order (Non-store Retai
In-store Success (Sources
Factors in Selecting a Resource (Buying
Trade Publications (Sources)
8. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
In-store Success (Sources
Department Store (Characteristics)
Factory Outlet (Specialty)
Off-Price Store (Specialty)
9. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Elements of Dollar Merchandize Plan
Trade Associations (Sources)
GMM (Merchandising; Retail Stores)
Chain Store
10. Creates fashion looks for magazine phot - shoots - company catalogs - etc.
Paths for Buyers
New York (Market Centers)
Stylist
In-store Boutique
11. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Look at offerings and need out and refine their line
Shopping the Stores (Sources)
Store within a Store
Advertising
12. Chain
Discount Store (Specialty)
Promotio
Catalog Showroom (Specialty)
Central Buyer (Path for Buyers)
13. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Market Wee
Specialty Store
Specialized Store Buyer (Path for Buyers)
Market
14. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Business Consultant's Services
Management Consultants (Consulting Services)
In-store Boutique
15. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Regional Marts
Store Ownership Group
Some samples may never be mass produced
Merchandise Assortment Planning
16. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Buyer (Retail Merchandising)
Trade Associations (Sources)
Breadt
Trade Publications (Sources)
17. Focus specifically on product
Merchandise/Promotional (Advertising)
Specialized Store Buyer (Path for Buyers)
Trade Associations (Sources)
Milan (Global Fashion Centers)
18. Sales records - Sales people
Publicity
Variety Store (Specialty)
Specialty Store
In-store Success (Sources
19. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Department Store (Characteristics)
Independently Owed (Product Development Organizations)
Regional Marts
Dallas
20. Manufacturers Attend Market to...
Look at offerings and need out and refine their line
Buyer (Retail Merchandising)
Private Label
Branch (Classifications; Department Store
21. Focuses on management and market research
Limitations of regional marts
Management Consultants (Consulting Services)
Image (Advertising)
Using Resident Buying Offices (Sources)
22. Merchandising offerings - Appropriate for customers
Factory Outlet (Specialty)
Buyer (Merchandising; Retail Stores)
Regional Marts
Factors in Selecting a Resource (Buying
23. Located in market
Regional Marts
Limitations of regional marts
OB
Using Resident Buying Offices (Sources)
24. 2nd largest leasing space available
Resident Buyer (Path for Buyers)
Hypermarkets (Specialty
Los Angeles
Factors in Selecting a Resource (Buying
25. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Merchandise/Promotional (Advertising)
DMM (Merchandising; Retail Store
Store Owned Organizations (Product Development Organizations
Branch (Classifications; Department Store
26. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Catalog Showroom (Specialty)
Sources of Merchandise (Buying)
De
Factors to be Considered in Editing (Buying)
27. Market trips - Sales reps wh - visit buyer - Catalogs - Resident buying offices - Store-owned resources
Wholesale Warehouse Clubs (Specialty)
Sources of Merchandise (Buying)
Elements of Dollar Merchandize Plan
Specialized Store Buyer (Path for Buyers)
28. 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
Regional Marts
Personal Shopper
Factory Outlet (Specialty)
Electronic Retailing (Non-store Retailing)
29. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Independently Owed (Product Development Organizations)
Product Development
Look at offerings and need out and refine their line
Hypermarkets (Specialty
30. 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
Tokyo (Global Fashion Centers
DMM (Merchandising; Retail Store
Some samples may never be mass produced
Electronic Retailing (Non-store Retailing)
31. Develops clothing for actors in plays - movies - and television
Factors in Selecting a Resource (Buying
Costume Designe
Broad-based Business Consulting Services
Open-to-buy (Dollar Merchandise Plan)
32. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
In-store Success (Sources
Reporting Services (Sources)
Central Buyer (Path for Buyers)
Dollar Merchandise Plan
33. Number of different items offered
Breadt
Confined merchandis
Discount Store (Specialty)
Market
34. Responsible for establishing the store's image
Merchandise/Promotional (Advertising)
GMM (Merchandising; Retail Stores)
Two basic kinds of ratail advertising
Store within a Store
35. Small specialized store of a department store
Twig (Classifications; Department Store)
Minor Fashion Industries (Global Fashion Centers)
Business Consultant's Services
Using Resident Buying Offices (Sources)
36. Responsible for a department/area
Market
Tokyo (Global Fashion Centers
Wholesale Warehouse Clubs (Specialty)
Buyer (Merchandising; Retail Stores)
37. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Central Buyer (Path for Buyers)
Flagship (Classifications; Department Store)
Specialty Store
Reporting Services (Sources)
38. Italian fashion - Knits - Shoes - Menswear
Paths for Buyers
Buyers Attend Market
Specialty Store
Milan (Global Fashion Centers)
39. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Wholesale Warehouse Clubs (Specialty)
Hypermarkets (Specialty
OB
New York (Market Centers)
40. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Buyer (Merchandising; Retail Stores)
Stylist
Two basic kinds of ratail advertising
Franchise
41. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Breadt
Catalog/Mail Order (Non-store Retai
Specialty Store
Image (Promotion)
42. Door-to-door or house parties
Direct Selling (Non-store Retailing)
Using Resident Buying Offices (Sources)
Merchandise/Promotional (Advertising)
Confined merchandis
43. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Electronic Retailing (Non-store Retailing)
Twig (Classifications; Department Store)
Factory Outlet (Specialty)
Look at offerings and need out and refine their line
44. 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
Specialty Store
De
Chain Store
Limitations of regional marts
45. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Chain Store
Management Consultants (Consulting Services)
Reporting Services (Sources)
Limitations of regional marts
46. Most aware of what is selling (bias)
Regional Marts
Direct Selling (Non-store Retailing)
Vendors (Sources)
Gross Margin Percentage (Dollar Merchandise Plan)
47. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Gross Margin Percentage (Dollar Merchandise Plan)
Sources of Information (Retail Merchandising)
Breadt
Hypermarkets (Specialty
48. Larger orders may allow for...
Merchandisi
Lower prices
Off-Price Store (Specialty)
Limitations of regional marts
49. Merchandising - Buying - Product Development Organizations
Electronic Retailing (Non-store Retailing)
Breadt
Independently owned services
Resident Buyer
50. Focuses on the business itself
Catalog/Mail Order (Non-store Retai
Business Consultant's Services
Image (Promotion)
Gross Margin Percentage (Dollar Merchandise Plan)