Fashion Buying and Planning

Description: This quiz covers the fundamental concepts, processes, and strategies related to Fashion Buying and Planning.
Number of Questions: 15
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Tags: fashion buying fashion planning fashion merchandising
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What is the primary objective of fashion buying?

  1. To maximize profits

  2. To satisfy customer needs

  3. To create a positive brand image

  4. To reduce inventory costs


Correct Option: B
Explanation:

The primary objective of fashion buying is to satisfy customer needs by providing them with the right products at the right time and at the right price.

Which of the following is NOT a key factor considered in fashion buying?

  1. Customer demand

  2. Fashion trends

  3. Production costs

  4. Availability of raw materials


Correct Option: D
Explanation:

Availability of raw materials is not a key factor considered in fashion buying as it is the responsibility of the production department to ensure that the necessary materials are available.

What is the process of selecting and purchasing merchandise for a retail store called?

  1. Fashion buying

  2. Merchandise planning

  3. Inventory management

  4. Retail merchandising


Correct Option: A
Explanation:

Fashion buying is the process of selecting and purchasing merchandise for a retail store, taking into account factors such as customer demand, fashion trends, and production costs.

Which of the following is NOT a common type of fashion buying?

  1. Forward buying

  2. Backward buying

  3. Impulse buying

  4. Hand-to-mouth buying


Correct Option: C
Explanation:

Impulse buying is not a common type of fashion buying as it refers to unplanned and spontaneous purchases made by consumers, whereas fashion buying is a planned and strategic process.

What is the purpose of conducting a merchandise plan?

  1. To determine the quantity of merchandise to purchase

  2. To allocate the budget for different product categories

  3. To set sales targets

  4. All of the above


Correct Option: D
Explanation:

The purpose of conducting a merchandise plan is to determine the quantity of merchandise to purchase, allocate the budget for different product categories, and set sales targets.

Which of the following is NOT a common method used for forecasting fashion trends?

  1. Trend analysis

  2. Consumer surveys

  3. Expert opinion

  4. Social media monitoring


Correct Option: C
Explanation:

Expert opinion is not a common method used for forecasting fashion trends as it is subjective and may not accurately reflect the preferences of the target market.

What is the process of managing the flow of merchandise from the manufacturer to the retail store called?

  1. Distribution

  2. Logistics

  3. Supply chain management

  4. Inventory management


Correct Option: C
Explanation:

Supply chain management is the process of managing the flow of merchandise from the manufacturer to the retail store, including activities such as transportation, warehousing, and inventory control.

Which of the following is NOT a common type of retail store layout?

  1. Grid layout

  2. Free-flow layout

  3. Racetrack layout

  4. Diagonal layout


Correct Option: D
Explanation:

Diagonal layout is not a common type of retail store layout as it can be confusing for customers to navigate and may not maximize the use of space.

What is the process of presenting merchandise in a retail store called?

  1. Visual merchandising

  2. Store design

  3. Retail marketing

  4. Customer service


Correct Option: A
Explanation:

Visual merchandising is the process of presenting merchandise in a retail store in a visually appealing manner to attract customers and encourage them to make purchases.

Which of the following is NOT a common type of fashion buying strategy?

  1. Mass market strategy

  2. Niche market strategy

  3. Fast fashion strategy

  4. Private label strategy


Correct Option: D
Explanation:

Private label strategy is not a common type of fashion buying strategy as it involves the retailer designing and producing its own products, which is typically done by manufacturers.

What is the process of managing the levels of inventory in a retail store called?

  1. Inventory management

  2. Stock control

  3. Warehousing

  4. Distribution


Correct Option: A
Explanation:

Inventory management is the process of managing the levels of inventory in a retail store to ensure that there is enough stock to meet customer demand without overstocking.

Which of the following is NOT a common type of fashion buying risk?

  1. Demand risk

  2. Supply risk

  3. Financial risk

  4. Political risk


Correct Option: D
Explanation:

Political risk is not a common type of fashion buying risk as it is typically associated with international trade and geopolitical events, which are not directly related to the fashion industry.

What is the process of evaluating the performance of a fashion buying plan called?

  1. Performance analysis

  2. Sales analysis

  3. Profitability analysis

  4. Customer satisfaction analysis


Correct Option: A
Explanation:

Performance analysis is the process of evaluating the performance of a fashion buying plan by analyzing metrics such as sales, profitability, and customer satisfaction.

Which of the following is NOT a common type of fashion buying software?

  1. Merchandise planning software

  2. Inventory management software

  3. Point-of-sale software

  4. Customer relationship management software


Correct Option: D
Explanation:

Customer relationship management software is not a common type of fashion buying software as it is primarily used for managing customer data and interactions, rather than for fashion buying activities.

What is the process of negotiating prices with suppliers called?

  1. Price negotiation

  2. Cost analysis

  3. Supplier evaluation

  4. Contract management


Correct Option: A
Explanation:

Price negotiation is the process of negotiating prices with suppliers to obtain the best possible terms for the retailer.

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