MRCH 1135 TEST 2 ECU || All Answers Are Correct 100%.
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Course
MRCH 1135
Institution
MRCH 1135
Primary level correct answers growers and producers of the raw materials of fashion (cotton farmers and weaving mills)
secondary level correct answers composed of industries - manufacturers and contractors - that produce the semifinished or finished fashion goods from the materials supplied by t...
MRCH 1135 TEST 2 ECU || All Answers Are Correct 100%.
Primary level correct answers growers and producers of the raw materials of fashion (cotton
farmers and weaving mills)
secondary level correct answers composed of industries - manufacturers and contractors - that
produce the semifinished or finished fashion goods from the materials supplied by the primary
level
retail level correct answers those who buy goods from the secondary level and sell to consumers
(i.e., department and specialty stores)
auxiliary level correct answers composed of all the support services and functions with all other
levels simultaneously (resident buying offices, advertising media, fashion consultants, and
researchers)
advantage of sole proprietorship correct answers ownership of all profits, personal satisfaction of
being ones own boss, freedom and flexibility to make decisions promptly and take action with
needing permission, ease and low cost of organizing and dissolving the business, tax savings
merger or acquisition correct answers sale on one company occurs with the prchasing company
usually remaining dominant. companies merge to form a larger corporate organization for many
reasons. Wish to take advantage of large corps. purchasing power, or sell stock to obtain
financial resources needed for expansion. operation economies often be achieved by combining
companies. Duplicate facilities can be eliminates, and marketing, purchasing, and other
operations can be consolidated
Laws affecting national chain of shoe stores correct answers a) the Sherman Antitrust Act
(b) the Clayton Act
(c) the Robinson-Patman Act
(d) the Fair Packaging and Labeling Act
(e) any of those such as the Flammable Fabrics Act. A small, privately owned bridal
shop would not directly be affected by the Sherman Antitrust Act.
Franchise correct answers contract that gives someone the right to own a business while
benefiting from the expertise and reputation of an established and well-known firm
Licensing correct answers legal agreement whereby firms are given permission to produce and
market merchandise in the name of the license for a specific period of time
advantages of a licensed designer name correct answers to manufacturer more merchandise is
sold to stores because it is identified with highly recognizable name which generally means high
quality, to a retailer merchandise sells because of the identifiable name that aids in presenting the
stores fashion image, to a consumer the designer name indicated quality as well as enhances the
status of the purchaser
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