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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. Door-to-door or house parties
Off-Price Store (Specialty)
Los Angeles
Dallas
Direct Selling (Non-store Retailing)
2. Management consultants - Technical consultants - Import and export consultants
London (Global Fashion Centers)
Direct Selling (Non-store Retailing)
Market Wee
Broad-based Business Consulting Services
3. Large number of resources centered in 7th Avenue area - Largest and most important domestically
Broad-based Business Consulting Services
New York (Market Centers)
Terms to be Negotiated (Buying)
GMM (Merchandising; Retail Stores)
4. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
In-store Success (Sources
Advertising
Market
Independently Owed (Product Development Organizations)
5. Focuses on a particular item or product
Store Owner (Path for Buyers)
Franchise
Specialty Store
Promotio
6. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Factory Outlet (Specialty)
London (Global Fashion Centers)
Chain Store
Independently Owed (Product Development Organizations)
7. Cotton Inc. - Wool Bureau
Tokyo (Global Fashion Centers
Broad-based Business Consulting Services
Trade Associations (Sources)
Business Consultant's Services
8. WWD - DNR - stores (consumer fashion magazines)
Trade Publications (Sources)
GMM (Merchandising; Retail Stores)
Merchandise Assortment Planning
Broad-based Business Consulting Services
9. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Discount Store (Specialty)
DMM (Merchandising; Retail Store
In-store Success (Sources
Elements of Dollar Merchandize Plan
10. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Advertising
Breadt
Factors to be Considered in Editing (Buying)
Image (Promotion)
11. Order from catalog and pick up immediately
Merchandisi
OB
Catalog Showroom (Specialty)
Factory Outlet (Specialty)
12. Net sales- total merchandise costs (Allow for overhead taxes and profit)
Turnover (Dollar Merchandise Plan)
Dollar Merchandise Plan
Gross Margin Percentage (Dollar Merchandise Plan)
Trade Publications (Sources)
13. Shoplifting - internal theft - inaccurate records
Buyers Attend Market
Store within a Store
Stylist
Shortage (Dollar Merchandise Plan)
14. Germany - Spain - Eastern Block
Minor Fashion Industries (Global Fashion Centers)
Limitations of regional marts
Store within a Store
Open-to-buy (Dollar Merchandise Plan)
15. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Franchise
Image (Advertising)
Sources of Information (Retail Merchandising)
Two basic kinds of ratail advertising
16. Small area within a store for designers or popular manufacturers
In-store Success (Sources
Store Owner (Path for Buyers)
Discount Store (Specialty)
In-store Boutique
17. 2nd largest leasing space available
London (Global Fashion Centers)
Store within a Store
Breadt
Los Angeles
18. Manufacturers may not always produce everything they show in regional market (even if orders have been placed) - May not have many new manufacturers
Electronic Retailing (Non-store Retailing)
Specialty Store
Chain Store
Limitations of regional marts
19. Manufacturers Attend Market to...
Product Development
Promotio
Costume Designe
Look at offerings and need out and refine their line
20. Variety of low priced merchandise
Variety Store (Specialty)
Merchandisi
Twig (Classifications; Department Store)
Advertising
21. Merchandising - Buying - Product Development Organizations
Merchandise Assortment Planning
Independently owned services
Private Label
Turnover (Dollar Merchandise Plan)
22. 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
Off-Price Store (Specialty)
London (Global Fashion Centers)
Sources of Information (Retail Merchandising)
Resident Buyer
23. Figure that tells the frequency with which the stock has been sold and replaced - Goal: increase turn = keep merchandise moving
OB
Turnover (Dollar Merchandise Plan)
Limitations of regional marts
Discount Store (Specialty)
24. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Management Consultants (Consulting Services)
Paris (Global Fashion Centers)
Costume Designe
Dollar Merchandise Plan
25. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Advertising
Open-to-buy (Dollar Merchandise Plan)
Elements of Dollar Merchandize Plan
Dollar Merchandise Plan
26. Ads; focuses on business itself
New York (Market Centers)
Image (Advertising)
Franchise
Stylist
27. Where store execs are housed
Variety Store (Specialty)
Using Resident Buying Offices (Sources)
Flagship (Classifications; Department Store)
Los Angeles
28. Merchandising offerings - Appropriate for customers
Private Label
Factors in Selecting a Resource (Buying
GMM (Merchandising; Retail Stores)
In-store Boutique
29. Television or computer shopping
Discount Store (Specialty)
Store within a Store
Electronic Retailing (Non-store Retailing)
Factory Outlet (Specialty)
30. Focuses on management and market research
Management Consultants (Consulting Services)
Merchandisi
Some samples may never be mass produced
Buyer (Retail Merchandising)
31. Focus specifically on product
Direct Selling (Non-store Retailing)
Merchandise/Promotional (Advertising)
Branch (Classifications; Department Store
Management Consultants (Consulting Services)
32. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Resident Buyer
OB
Buyer (Retail Merchandising)
Publicity
33. Regional center for bridal - evening wear
Two basic kinds of ratail advertising
Shopping the Stores (Sources)
Factors to be Considered in Editing (Buying)
Dallas
34. Responsible for a department/area
Reporting Services (Sources)
Flagship (Classifications; Department Store)
Specialized Store Buyer (Path for Buyers)
Buyer (Merchandising; Retail Stores)
35. Largest portion of promotion budget (approx. 1.3% of sales) - Planning - writing - design - and scheduling of paid announcements
Business Consultant's Services
Advertising
Trade Publications (Sources)
Direct Selling (Non-store Retailing)
36. Small specialized store of a department store
Specialty Store
Twig (Classifications; Department Store)
Store within a Store
DMM (Merchandising; Retail Store
37. Conduct own research
Market Research (Sources)
Private Label
Market
In-store Success (Sources
38. Responsible for establishing the store's image
Sources of Merchandise (Buying)
Two basic kinds of ratail advertising
GMM (Merchandising; Retail Stores)
Hypermarkets (Specialty
39. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Franchise
Flagship (Classifications; Department Store)
Central Buyer (Path for Buyers)
Store Owned Organizations (Product Development Organizations
40. Specialize in brand and designer name clothing at discounted prices
Dollar Merchandise Plan
Factory Outlet (Specialty)
Off-Price Store (Specialty)
Some samples may never be mass produced
41. Sourcing - Logistics related to - importing - Managing information systems
42. Store open another facility in a different location - often in suburbs
Using Resident Buying Offices (Sources)
Branch (Classifications; Department Store
Store Owned Organizations (Product Development Organizations
Private Label
43. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Off-Price Store (Specialty)
Regional Marts
Product Development
Buyer (Retail Merchandising)
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
Chain Store
Management Consultants (Consulting Services)
Market
Two basic kinds of ratail advertising
45. Most aware of what is selling (bias)
Stylist
Broad-based Business Consulting Services
New York (Market Centers)
Vendors (Sources)
46. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Central Buyer (Path for Buyers)
Trade Associations (Sources)
Confined merchandis
Market
47. Buying - selling - and planning of merchandise
Buyer (Retail Merchandising)
Reporting Services (Sources)
Merchandisi
Image (Promotion)
48. Located in market
Using Resident Buying Offices (Sources)
Hypermarkets (Specialty
Reporting Services (Sources)
Shopping the Stores (Sources)
49. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Store Owned Organizations (Product Development Organizations
Milan (Global Fashion Centers)
Paris (Global Fashion Centers)
Discount Store (Specialty)
50. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Hypermarkets (Specialty
Shopping the Stores (Sources)
Resident Buyer (Path for Buyers)
Business Consultant's Services