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Test your basic knowledge |
Fashion Merchandizing
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Subjects
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business-skills
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industries
Instructions:
Answer 50 questions in 15 minutes.
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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. 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
Lower prices
Shopping the Stores (Sources)
Resident Buyer
Electronic Retailing (Non-store Retailing)
2. Television or computer shopping
Electronic Retailing (Non-store Retailing)
Market Research (Sources)
Factory Outlet (Specialty)
Personal Shopper
3. Current information on trends
Dollar Merchandise Plan
Elements of Dollar Merchandize Plan
Promotio
Reporting Services (Sources)
4. Order from catalog and pick up immediately
Buyers Attend Market
Catalog Showroom (Specialty)
Chain Store
Merchandise Assortment Planning
5. 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
Buyers Attend Market
Central Buyer (Path for Buyers)
Off-Price Store (Specialty)
Catalog/Mail Order (Non-store Retai
6. Small specialized store of a department store
Chain Store
Confined merchandis
Independently Owed (Product Development Organizations)
Twig (Classifications; Department Store)
7. Focuses on the business itself
Factors to be Considered in Editing (Buying)
Image (Promotion)
Terms to be Negotiated (Buying)
Buyer (Retail Merchandising)
8. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Central Buyer (Path for Buyers)
Branch (Classifications; Department Store
Merchandise/Promotional (Advertising)
Store Owned Organizations (Product Development Organizations
9. Sales records - Sales people
GMM (Merchandising; Retail Stores)
Market Wee
In-store Success (Sources
Promotio
10. Located in market
Electronic Retailing (Non-store Retailing)
Branch (Classifications; Department Store
Off-Price Store (Specialty)
Using Resident Buying Offices (Sources)
11. Image Merchandise/promotional -advertising agencies bid for client accounts
Look at offerings and need out and refine their line
Store Ownership Group
Lower prices
Two basic kinds of ratail advertising
12. Variety of low priced merchandise
Independently Owed (Product Development Organizations)
Store Owned Organizations (Product Development Organizations
Variety Store (Specialty)
Using Resident Buying Offices (Sources)
13. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Terms to be Negotiated (Buying)
Promotio
Store Owner (Path for Buyers)
Specialty Store
14. Not paid for by the retailer and the retailer doesn't have control over what is said
Trade Publications (Sources)
Costume Designe
Using Resident Buying Offices (Sources)
Publicity
15. Mass - staples
Tokyo (Global Fashion Centers
Catalog/Mail Order (Non-store Retai
De
Limitations of regional marts
16. Store's own label for career and casual sportswear; prices vary (better to moderate)
Wholesale Warehouse Clubs (Specialty)
Milan (Global Fashion Centers)
Paths for Buyers
Private Label
17. Small operation
Store Owner (Path for Buyers)
Merchandisi
Personal Shopper
Two basic kinds of ratail advertising
18. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
De
Shortage (Dollar Merchandise Plan)
Elements of Dollar Merchandize Plan
Merchandise Assortment Planning
19. Store owner - Specialized store buyer - Central buyer - Resident buyer
Paths for Buyers
Regional Marts
Business Consultant's Services
Dollar Merchandise Plan
20. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Merchandise Assortment Planning
Independently Owed (Product Development Organizations)
Publicity
Costume Designe
21. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
Los Angeles
Variety Store (Specialty)
Shopping the Stores (Sources)
Department Store (Characteristics)
22. Regional center for bridal - evening wear
Dallas
Store Owned Organizations (Product Development Organizations
Factors to be Considered in Editing (Buying)
Confined merchandis
23. Menswear
Reporting Services (Sources)
Factory Outlet (Specialty)
Tokyo (Global Fashion Centers
London (Global Fashion Centers)
24. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Dallas
Terms to be Negotiated (Buying)
Image (Advertising)
Regional Marts
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
Image (Advertising)
Store Owner (Path for Buyers)
Variety Store (Specialty)
Some samples may never be mass produced
26. Specialize in brand and designer name clothing at discounted prices
Off-Price Store (Specialty)
Sources of Merchandise (Buying)
Specialized Store Buyer (Path for Buyers)
Market
27. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Wholesale Warehouse Clubs (Specialty)
Dallas
Regional Marts
Discount Store (Specialty)
28. 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
Stylist
Chain Store
Buyers Attend Market
Look at offerings and need out and refine their line
29. Compare what is available from the competition
Elements of Dollar Merchandize Plan
Lower prices
Shopping the Stores (Sources)
Factors in Selecting a Resource (Buying
30. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Trade Associations (Sources)
Merchandise Assortment Planning
Gross Margin Percentage (Dollar Merchandise Plan)
Costume Designe
31. Number of different items offered
Dallas
Breadt
Store within a Store
Business Consultant's Services
32. Responsible for establishing the store's image
Specialty Store
Factory Outlet (Specialty)
GMM (Merchandising; Retail Stores)
Resident Buyer
33. Responsible for several areas
DMM (Merchandising; Retail Store
Regional Marts
Product Development
Open-to-buy (Dollar Merchandise Plan)
34. Shoplifting - internal theft - inaccurate records
Overbought
De
Shortage (Dollar Merchandise Plan)
Store Owner (Path for Buyers)
35. When merchandise (inventory and ordered) is GREATER than need
Overbought
Elements of Dollar Merchandize Plan
Direct Selling (Non-store Retailing)
Department Store (Characteristics)
36. Sourcing - Logistics related to - importing - Managing information systems
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37. Selling responsibilities
Paris (Global Fashion Centers)
Costume Designe
Buyer (Retail Merchandising)
Specialized Store Buyer (Path for Buyers)
38. Sometimes called the 6 month plan - Balances planned stock and planned sales in dollars - Previous 6 months plan is used as a guideline
Dollar Merchandise Plan
Turnover (Dollar Merchandise Plan)
London (Global Fashion Centers)
Publicity
39. Leased department: rents space to an outside firm which runs the department (makeup counters) -In-store boutique
Store within a Store
OB
Market
Dollar Merchandise Plan
40. Italian fashion - Knits - Shoes - Menswear
Milan (Global Fashion Centers)
Look at offerings and need out and refine their line
Store within a Store
In-store Boutique
41. Anticipating future needs - Interpreting consumer demand - Evaluating current sales
Merchandisi
Wholesale Warehouse Clubs (Specialty)
Buyer (Retail Merchandising)
Independently owned services
42. Small area within a store for designers or popular manufacturers
Direct Selling (Non-store Retailing)
In-store Boutique
Reporting Services (Sources)
Buyer (Merchandising; Retail Stores)
43. Pay a fee for what are supposed to be wholesale prices
Dallas
Wholesale Warehouse Clubs (Specialty)
Direct Selling (Non-store Retailing)
Elements of Dollar Merchandize Plan
44. Combine supermarket - appliances - toys - drug store items - apparel - etc. - everything under one roof
Hypermarkets (Specialty
Central Buyer (Path for Buyers)
Lower prices
Reporting Services (Sources)
45. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Lower prices
Personal Shopper
Hypermarkets (Specialty
Product Development
46. WWD - DNR - stores (consumer fashion magazines)
In-store Success (Sources
Off-Price Store (Specialty)
Sources of Information (Retail Merchandising)
Trade Publications (Sources)
47. Customer makes choices out of a catalog and places order by phone - mail - or at a facility
Catalog/Mail Order (Non-store Retai
Private Label
Business Consultant's Services
Specialty Store
48. Shopping the stores - Using resident buying offices - Vendors - Trade publications - Reporting services - Trade associations - Market research - In-store success
Costume Designe
Sources of Merchandise (Buying)
Sources of Information (Retail Merchandising)
In-store Boutique
49. Cotton Inc. - Wool Bureau
Trade Associations (Sources)
Independently owned services
Resident Buyer
Product Development
50. Focus specifically on product
Market Wee
Independently owned services
Merchandise/Promotional (Advertising)
Merchandisi
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