Fashion Merchandising Midterm

Which is an example of assortment depth?

A fashion retailer carries many dresses in a large range of sizes and colors.

Which type of buying office is owned by a group of similar stores located in non-competing geographic locations?

Associated offices

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

Everwood Studio photographs home interiors for use in home fashion magazines. Everwood is part of which fashion industry segment?

Auxiliary group

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

What is the relationship between the values of a country's imports and exports?

Balance of trade

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

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?

Blanket order

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?

Blanket orders

Which type of fashion retailer offers a high level of customer service, fashion-forward merchandise, and targets special-interest customers?

Boutique

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

Buyer

What is the route products take from producer to end user?

Channel of distribution

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?

Chicago

In which cities are the major fashion centers for the United States located?

Dallas, Los Angeles, and New York

Australia is known for their high standard of living and relatively low cost of doing business. Which aspect of global trade does this describe?

Economic climate

Which aspect of global trade refers to a country's purchasing power, standard of living, and relative cost of doing business?

Economic climate

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?

Factory outlets

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?

Franchise

HanesBrands undershirts can be found in stores such as Target, JCPenney, Macy's, and Wal-Mart department stores. Which distribution strategy are they using?

Intensive

Locally-owned stores with a limited assortment of apparel, housewares, gifts, and household textiles are which type of retailer?

Junior department stores

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?

Protectionism

Greens Store orders 'Life is Good' t-shirts every month. Which type of purchase order should they use for the upcoming month?

Regular order

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

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?

Salespeople

Which responsibility is the role of a retail buyer?

Selecting merchandise assortments that will best serve customers and earn a profit

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?

Selective

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?

Selective

If the United States levies taxes on goods coming into it, which taxes are charged?

Tariffs

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

The United States and Switzerland share the production of a new high-quality line of chocolates. This is an example of:

joint venture.

Gross margin is calculated by total sales:

minus cost of goods sold.

Melody works for a company that operates globally with direct investments in several different countries. Melody's company represents a/an:

multinational corporation

To monitor the sometimes weak trade within the fashion industry due to apparel being made cheaper in other countries, some countries rely on:

protectionism.