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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. Specialize in brand and designer name clothing at discounted prices
Stylist
Sources of Information (Retail Merchandising)
Regional Marts
Off-Price Store (Specialty)
2. 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
Shortage (Dollar Merchandise Plan)
Chain Store
Private Label
Dallas
3. Serves as group of stores - membership is by invitation only (e.g. Associated Merchandising Corporation)
Paths for Buyers
Resident Buyer (Path for Buyers)
Twig (Classifications; Department Store)
Store Owned Organizations (Product Development Organizations
4. Store open another facility in a different location - often in suburbs
Dallas
Branch (Classifications; Department Store
New York (Market Centers)
Discount Store (Specialty)
5. Additional service offered by resident buying offices- design staff of the buying office develops private label merchandise - Newest services
Central Buyer (Path for Buyers)
Product Development
Minor Fashion Industries (Global Fashion Centers)
Breadt
6. Develops clothing for actors in plays - movies - and television
Twig (Classifications; Department Store)
Resident Buyer
Costume Designe
Shopping the Stores (Sources)
7. Selling responsibilities
Product Development
Specialized Store Buyer (Path for Buyers)
Paris (Global Fashion Centers)
Chain Store
8. Large number of resources centered in 7th Avenue area - Largest and most important domestically
New York (Market Centers)
Trade Publications (Sources)
Look at offerings and need out and refine their line
Market Wee
9. Stores are part of an ownership group - Corporation owns a number of autonomously operated retail organizations
Store Owner (Path for Buyers)
Promotio
Store Ownership Group
Advertising
10. Place where sellers display sample goods and buyers survey and place orders for merchandise which will be delivered later
Minor Fashion Industries (Global Fashion Centers)
Market
Broad-based Business Consulting Services
Hypermarkets (Specialty
11. Number of different items offered
Breadt
Product Development
Market Research (Sources)
Specialty Store
12. Italian fashion - Knits - Shoes - Menswear
Milan (Global Fashion Centers)
Open-to-buy (Dollar Merchandise Plan)
Buyer (Merchandising; Retail Stores)
Merchandisi
13. Responsible for several areas
Two basic kinds of ratail advertising
Turnover (Dollar Merchandise Plan)
DMM (Merchandising; Retail Store
Reporting Services (Sources)
14. Carry merchandise from many manufacturers -Originally owned by manufacturers as a way to get rid of excess merchandise
Factory Outlet (Specialty)
Broad-based Business Consulting Services
In-store Success (Sources
OB
15. Current information on trends
Reporting Services (Sources)
Milan (Global Fashion Centers)
Lower prices
Catalog/Mail Order (Non-store Retai
16. Focuses on the business itself
Resident Buyer
Image (Promotion)
Specialized Store Buyer (Path for Buyers)
Sources of Merchandise (Buying)
17. Conduct own research
Market Research (Sources)
Minor Fashion Industries (Global Fashion Centers)
Specialized Store Buyer (Path for Buyers)
Hypermarkets (Specialty
18. Tells buyer dollar amount of purchases that can be made - Actual stock- planned stock
Open-to-buy (Dollar Merchandise Plan)
Independently owned services
Shopping the Stores (Sources)
Branch (Classifications; Department Store
19. 2nd largest leasing space available
Store Owner (Path for Buyers)
Shortage (Dollar Merchandise Plan)
Los Angeles
Electronic Retailing (Non-store Retailing)
20. Run by private enterprises - members subscribe for a fee (e.g. Doneger Group)
Independently Owed (Product Development Organizations)
Independently owned services
Buyer (Merchandising; Retail Stores)
Broad-based Business Consulting Services
21. Offerings limited to geographical area - Vendor policies (Minimums) - Vendor services (On time shipments)
Confined merchandis
Branch (Classifications; Department Store
Advertising
Publicity
22. Price - Buying plans - What is selling - Needs of the consumer - Buyer completes order which is then approved by DMM
Shopping the Stores (Sources)
Los Angeles
Discount Store (Specialty)
Factors to be Considered in Editing (Buying)
23. 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
Dallas
Specialized Store Buyer (Path for Buyers)
Buyers Attend Market
24. Manufacturers Attend Market to...
Specialty Store
Reporting Services (Sources)
Look at offerings and need out and refine their line
Elements of Dollar Merchandize Plan
25. Store owner - Specialized store buyer - Central buyer - Resident buyer
Market Research (Sources)
Sources of Merchandise (Buying)
Paths for Buyers
Advertising
26. Sourcing - Logistics related to - importing - Managing information systems
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27. 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
Branch (Classifications; Department Store
Factors to be Considered in Editing (Buying)
Catalog Showroom (Specialty)
Resident Buyer
28. Focuses on a particular item or product
Promotio
In-store Success (Sources
Publicity
Regional Marts
29. Typically 6 months prior to season
Market Wee
Specialty Store
Chain Store
Resident Buyer
30. Small area within a store for designers or popular manufacturers
Twig (Classifications; Department Store)
Using Resident Buying Offices (Sources)
In-store Boutique
Factory Outlet (Specialty)
31. Offer merchandise at prices below recognized levels -Emphasis on self-service - limited services -Volume-oriented
Independently owned services
Image (Promotion)
Vendors (Sources)
Discount Store (Specialty)
32. Cotton Inc. - Wool Bureau
Trade Associations (Sources)
Factory Outlet (Specialty)
Merchandise Assortment Planning
Market
33. Small operation
Store Owner (Path for Buyers)
Market
Hypermarkets (Specialty
Gross Margin Percentage (Dollar Merchandise Plan)
34. Located in market
Dallas
Using Resident Buying Offices (Sources)
Independently Owed (Product Development Organizations)
Publicity
35. Chain
Central Buyer (Path for Buyers)
Market Research (Sources)
Catalog/Mail Order (Non-store Retai
Off-Price Store (Specialty)
36. Discounts for early payment - Any discounts available (special buys) - Delivery agreements (especially when goods change ownership) - Services (co-op advertising)
Gross Margin Percentage (Dollar Merchandise Plan)
Resident Buyer
Hypermarkets (Specialty
Terms to be Negotiated (Buying)
37. Mass - staples
Personal Shopper
Sources of Information (Retail Merchandising)
Tokyo (Global Fashion Centers
Advertising
38. Not paid for by the retailer and the retailer doesn't have control over what is said
Sources of Merchandise (Buying)
Off-Price Store (Specialty)
Publicity
Independently owned services
39. Planned sales - Planned stock - Turnover - Average stock - Planned purchases - Shortage - Gross margin percentage - Open-to-buy
Vendors (Sources)
Trade Publications (Sources)
Elements of Dollar Merchandize Plan
Wholesale Warehouse Clubs (Specialty)
40. Manufacturer sells the rights to retail the product - Franchise has the right to use the name and stock the merchandise - Example = Panera
Franchise
Confined merchandis
Twig (Classifications; Department Store)
Some samples may never be mass produced
41. WWD - DNR - stores (consumer fashion magazines)
Costume Designe
Private Label
Trade Publications (Sources)
New York (Market Centers)
42. Management consultants - Technical consultants - Import and export consultants
Catalog Showroom (Specialty)
Sources of Merchandise (Buying)
London (Global Fashion Centers)
Broad-based Business Consulting Services
43. Departments are managed separately - Separate buyers for each department - Extra customer services - Checkout in each department
London (Global Fashion Centers)
Department Store (Characteristics)
Factors in Selecting a Resource (Buying
Overbought
44. Store that concentrates on a specific classification of merchandise - Often more clearly defined market - Broad and shallow assortment
Two basic kinds of ratail advertising
In-store Success (Sources
Specialty Store
OB
45. Small specialized store of a department store
Stylist
Discount Store (Specialty)
Business Consultant's Services
Twig (Classifications; Department Store)
46. Completed once the estimated demand has been made - The merchandise plan is both by: Dollar or Merchandise (amount and quantity)
Merchandise Assortment Planning
Personal Shopper
Factors in Selecting a Resource (Buying
Shortage (Dollar Merchandise Plan)
47. 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
Department Store (Characteristics)
Variety Store (Specialty)
Two basic kinds of ratail advertising
48. People who shop for clients
Buyer (Merchandising; Retail Stores)
Gross Margin Percentage (Dollar Merchandise Plan)
Terms to be Negotiated (Buying)
Personal Shopper
49. Merchandising offerings - Appropriate for customers
Factors in Selecting a Resource (Buying
OB
Confined merchandis
Limitations of regional marts
50. 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
Turnover (Dollar Merchandise Plan)
OB
Store Owned Organizations (Product Development Organizations