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46 questions
Which is an example of assortment depth?
A fashion retailer carries many dresses in a large range of sizes and colors.
A women’s boutique is known for its selection of accessories and clothing.
Alex’s Boutique carries many different types of men’s suits.
Bloomingdale’s department store offers many different types, brands, and price ranges of dresses.
Iris is responsible for planning and purchasing goods for a department store. Part of her responsibilities include keeping track of the economic trends and consumer behavior data. Iris’s job would best be described as:
visual merchandiser.
buyer.
sales associate.
manager.
Which is an example of a manager of a retail store using internal data for merchandise planning?
Calls vendors to get product information
Uses information from trade associations for merchandise planning
Reviews past sales records to see what merchandise sold the best
Hires resident buying offices to assist with merchandise planning
Which responsibility is the role of a retail buyer?
Designing visual displays for the upcoming season
Selecting merchandise assortments that will best serve customers and earn a profit
Assisting customers with product selection
Supervising sales associates and assisting them in setting store goals
A local boutique is planning for the prom season in six months. Which type of purchase order should be used?
Back order
Regular order
Reorder
Advanced order
A fashion merchandising class wants to plan a field trip to visit the headquarters of large retail chain stores. Which domestic fashion market should they plan to visit?
Charlotte
Chicago
Denver
Seattle
The United States has a large trade deficit because of which of its actions?
Allows free trade
Exports more products than it imports
Charges high taxes on imports
Imports more products than it exports
Belk is a company that sells products to end users. Which type of intermediary is Belk?
Manufacturer
Consumer
Wholesaler
Retailer
Sam supplies local boutiques with dressing room chairs and is able to answer questions about current trends in store layouts and furnishings. Sam is an example of which type of external data source?
Vendor
Comparison shopper
Trade information
Reporting consulting service
A shoe store manager realizes a new brand of snow boots are selling quickly due to rising popularity. In order to maintain current stock, the manager will order to maintain inventory. Which type of purchase order should be used?
Reorder
Regular order
Back order
Advanced order
HanesBrands undershirts can be found in stores such as Target, JCPenney, Macy’s, and Wal-Mart department stores. Which distribution strategy are they using?
Selective
Intensive
Industrial
Exclusive
Concord Mills shopping mall contains discount stores such as Bass and Manhattan Shirts. Since these stores are manufacturer-owned and operated, which type of retailer is available?
Boutiques
Department stores
Factory outlets
Franchises
Melody works for a company that operates globally with direct investments in several different countries. Melody’s company represents a/an:
multinational corporation.
import commission house.
joint venture.
major trade region.
What is the relationship between the values of a country’s imports and exports?
Offshore production
Balance of trade
Protectionism
Trade surplus
Mario’s Boots needs to order a shipment of popular cowboy boots, hats, and gear. It should order from which domestic fashion market?
Dallas
New York
Atlanta
Italy
Saks Fifth Avenue ordered 500 dresses, but only 300 were delivered. In order to get the remaining 200, the manager should use which type of purchase order?
Backorder
Advance order
Regular order
Reorder
In which cities are the major fashion centers for the United States located?
Raleigh, Miami, and Charleston
Dallas, Los Angeles, and New York
Winston-Salem, Burlington, and Dallas
San Francisco, Atlanta, and Chicago
What occurs when the imports of the United States exceed its exports?
Trade surplus
Balanced trade
Free trade
Trade deficit
The United States exercises the right of levying a tariff to meet the expenditures of its imported goods, which is called a/an:
export
sale
standard
tax
Tia and Lauren own a bridal boutique. They are assisting a bride with selecting a dress. Since they are able to provide her with personalized information and assistance, which type of internal data source is being used?
Company merchandising bureaus
Salespeople
Want books
Sales records
What is the route products take from producer to end user?
Apparel marts
Textile process
Channel of distribution
Trade associations chain
What is the open trading zone among the United States, Canada, and Mexico?
Multinational corporation
North American Free Trade Agreement
Import commission house
World Trade Organization
Which type of buying office is owned by a group of similar stores located in non-competing geographic locations?
Associated offices
Merchandise brokers
Salaried offices
Syndicated offices
Felisha wants to purchase a custom wedding dress. Which type of purchase order should be used?
Approval buying
Blanket order
Open order
Special order
Locally-owned stores with a limited assortment of apparel, housewares, gifts, and household textiles are which type of retailer?
Discount stores
Junior department stores
Off-price discounters
Wholesale warehouse clubs
Australia is known for their high standard of living and relatively low cost of doing business. Which aspect of global trade does this describe?
Political stability
Infrastructure
Economic climate
Globalization
Deborah plans to only purchase Hunter rain boots over the next three years to sell in her boutique. She will provide the assortment of boots needed at a later time. Deborah is using which type of purchase order?
Advance order
Back order
Blanket order
Open order
Which aspect of global trade refers to a country’s purchasing power, standard of living, and relative cost of doing business?
Balance of trade
Comparative advantage
Economic climate
Globalization
Macy’s hires decorators to create window displays during the Christmas season. The decorators only decorate for large, upscale department stores. Which type of distribution strategy is being used?
Exclusive
Industrial
Intensive
Selective
Anthony promises a local manufacturer that he will purchase golf polos from only them. He will provide details regarding colors, sizes and quantity at a later date. Which type of purchase order should be used?
Advance orders
Back orders
Blanket orders
Open orders
Due to its importing of more products than it exports, the United States:
has a large trade deficit.
has a surplus of goods.
has no trade deficit.
takes advantage of child labor.
If the United States levies taxes on goods coming into it, which taxes are charged?
Delivery fees
Exemptions
Quotas
Tariffs
An establishment that individually buys the right to use a famous or established name or trademark in a specified trading is which type of retailer?
Boutique
Chain store
Factory outlet
Franchise
Gross margin is calculated by total sales:
plus the variable cost.
divided by variable cost.
minus cost of goods sold.
multiplied by cost of goods sold.
Which type of fashion retailer offers a high level of customer service, fashion-forward merchandise, and targets special-interest customers?
Boutique
Department store
Discount store
Flagship store
Greens Store orders ‘Life is Good’ t-shirts every month. Which type of purchase order should they use for the upcoming month?
Advance orders
Backorders
Regular order
Reorders
Everwood Studio photographs home interiors for use in home fashion magazines. Everwood is part of which fashion industry segment?
Apparel manufacturing
Auxiliary group
Retail
Textile
Jim is an interior designer for a home furnishings store in the Southeast. He needs to purchase floor coverings for the upcoming season. Which domestic fashion market center should he visit?
Atlanta
California
Miami
NY
Elizabeth makes a log entry about a new brand of jeans that customers continue to request that are unavailable at the store. This describes which type of internal data source?
Company merchandising bureaus
Salespeople
Sales records
Want books
Amy purchases a cashmere sweater to give to her mother for Christmas. What is Amy’s role?
Consumer
Customer
Producer
Wholesaler
Molly is planning a trip to a regional apparel mart. She appreciates the options of visiting several vendors. Which is an advantage of attending a regional apparel mart?
Few resident buying offices
Lack of unusual items
Numerous showrooms under one roof
Limited special purchased goods
To monitor the sometimes weak trade within the fashion industry due to apparel being made cheaper in other countries, some countries rely on:
market disruption.
protectionism
trade balance.
free trade.
TOMS shoes are only available through the company’s e-tailing store and a few brick and mortar stores. Which distribution strategy is it using?
Exclusive
Intensive
Regulated
Selective
The United States and Switzerland share the production of a new high-quality line of chocolates. This is an example of:
full package production.
joint venture.
economy of scale.
product life cycle.
Which aspect of global trade examines the relationship between a country’s exports and imports and is usually expressed as a surplus or deficit?
Balance of trade
Comparative advantage
Economic climate
Globalization
The use of foreign workers in one or more countries to complete the manufacturing steps of goods that carry a producer’s label is which type of action?
Counterfeiting
Fashion industrialization
Offshore production
Protectionism
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