Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ 07458. All Rights Reserved Chapter 11: Planning.

Slides:

Advertisements

Similar presentations

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 1: An Introductory.

Advertisements

Chapter 9 Merchandise Buying & Handling

Merchandise Assortment. Decisions, Decisions □Good planning is critical □Target market analysis □Merchandise decisions □Pricing decisions.

Unit assortment planning

The Process of Merchandise Planning

McGraw-Hill/Irwin Retailing Management, 6/e Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 12 Managing Merchandise Assortments.

Understand Merchandise Planning in Retailing. The Merchandise Plan A budgeting tool that helps retailer or buyer to meet department goals ▫Planned sales.

Operating a Retail Store Understand how to make a retail store operational.

FUNDAMENTAL S OF MERCHANDISIN G. Concept The word ‘merchandise’ means goods bought and sold for a profit. It originates from the French word ‘merchant’

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 8: Designing.

Staple and fashion merchandise

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 16: Visual.

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 13: The Retailing.

Otto Ch 1, Slide 1 Copyright 2004 The McGraw-Hill Companies, Inc. Permission required for reproduction or display. ACCT 200A Financial Accounting: A New.

Business Math, Eighth Edition Cleaves/Hobbs © 2009 Pearson Education, Inc. Upper Saddle River, NJ All Rights Reserved 17.1 Inventory Use the following.

10 Marketing 10-1 Marketing Basics

The MAY Department Stores Company Explore a Career in Retail.

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 2: The Emergence.

Section 23.1 The Role of the Buyer

Riverside County Office of Education Career Technical Education.

MERCHANDISING Merchandising means the activities involved in acquiring particular goods and/or services and making them available at the places, times,

Module 4: The Buying Process. Lesson 1 Determine the needs and wants of retailers.

McGraw-Hill © 2008 The McGraw-Hill Companies, Inc. All rights reserved. Retail Buying Chapter Ten Core Concepts in Fashion by Laura Portolese Dias.

Review for Final Exam. Chapter 1 – What is Fashion? Design Elements: color, line, shape, textures Fashion Products: Clothing, Accessories, Home furnishings.

Chapter 12 Wholesale Marketing and Distribution. Fashion From Concept to Consumer, 8/e© 2005 Pearson Education, Inc. Gini Frings Upper Saddle River, New.

Jeopardy True/FalseTerms Q$100 Q$200 Q$300 Q$400 Q$500 FinalFinal Jeopardy Purchasing Plan Q$100 Q$200 Q$300 Q$400 Q$500 Q$100 Q$200 Q$300 Q$400 Q$500.

Marketing Marketing Basics

Frings: Fashion From Concept to Consumer, 9 th ed. © 2008 Pearson Education, Upper Saddle River, NJ All Rights Reserved.

Marketing CHAPTER Marketing Basics

Norwood and Lusk: Agricultural Marketing & Price Analysis © 2008 Pearson Education, Upper Saddle River, NJ All Rights Reserved. Chapter 2 Basic.

PURCHASING The Role of the Buyer. Planning Purchases Organizational Buyers Buy goods for business purchases, usually in much greater quantities that the.

© South-Western Educational Publishing GOALS LESSON 3.4 PRICING MERCHANDISE  Describe the methods buyers use to calculate the cost of merchandise  Calculate.

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 12: Purchasing.

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 3: Organizational.

INTRODUCTION TO RETAIL BUYING. Definition “that function responsible for obtaining by purchase, lease or other legal means, equipment, materials, supplies.

Copyright © 2006 by John Wiley & Sons, Inc. All rights reserved Ch. 12: Pricing & Selling Profit margin controls Calculating initial markup & required.

Week 3 Finish Chapter 4: Merchandise Planning, Buying, Control, and Profitability Chapter 5: Sourcing Midterm Review FM10211 – Retail Operations.

Objective 3.01 Understand principles of marketing 1.

Chapter 9 Product and Design Development. Fashion From Concept to Consumer, 8/e© 2005 Pearson Education, Inc. Gini Frings Upper Saddle River, New Jersey.

Copyright © 2006 by John Wiley & Sons, Inc. All rights reserved.

The MAY Department Stores Company Explore a Career in Retail.

Planning to Buy.

Fashion A: Standard 6 Fashion Careers. Objectives 0 Students will understand different types of career opportunities in the fashion industry. 0 Objective.

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 10: Merchandise.

Marketing In Today’s World Freshman Seminar - Introduction to Business Dr. Hays Freshman Seminar - Introduction to Business Dr. Hays.

Understand the preparation of fashion merchandise buying plans.

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 5: Classifications.

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 15: Advertising.

Understand the preparation of fashion merchandise buying plans.

Chapter 23 Purchasing Section 23.1 The Role of the Buyer Section 23.2 The Purchasing Function Section 23.1 The Role of the Buyer Section 23.2 The Purchasing.

F ASHION B: S TANDARD 12 The Design Process. O BJECTIVES Students will understand the basics of the design process. Objective 1 : Identify the steps in.

Bell Ringer. Bell Ringer Answer Agenda Learning Targets Explain the types of fashion designers. Name the steps of the fashion design process.

Frings: Fashion From Concept to Consumer, 9 th ed. © 2008 Pearson Education, Upper Saddle River, NJ All Rights Reserved.

The MAY Department Stores Company Explore a Career in Retail.

McGraw-Hill © 2008 The McGraw-Hill Companies, Inc. All rights reserved. Core Concepts in Fashion Chapter Ten.

Calculation Summary Card Calculating Shopper Numbers Calculating an amount as a % = The value of the amount you want to know as a % The total number X.

The Process of Merchandise Planning

Sources of information for merchandise planning

Understand the preparation of fashion merchandise buying plans.

The Process of Merchandise Planning

Developing Merchandise Plans

2.0 Understand the fashion merchandising process.

Chapter 9: Human Resources Management

Buying Fashion Fashion Marketing.

Pratik Ghosh Asst. Professor(FMS) NIFT-Bengaluru

Chapter 17: Servicing the Customers in On-Site and Off-Site Ventures

Merchandise Assortment

Fashion Research and Resources

Buying Fashion Fashion Marketing.

FASHION MERCHANDISING 2.02 BUYING

Presentation transcript:

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Chapter 11: Planning and Executing the Purchase

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Buyer Duties and Responsibilities Purchasing Pricing In-store visual presentation Selecting merchandise for advertising and promotions Managing a department Interacting with other mid-management personnel

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Pricing Merchandise Correct pricing imperative for profit Keystone markup may be used Influenced by  Competition  Inventory protection  Turnover rate  Perishability  The buyer’s judgment

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Planning the Purchases Internal preparation External assistance Model stock development Elements of fashion buying

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved External Sources of Assistance Resident Buying Offices Fashion Forecasters Reporting Services Trade Publications Trade Associations Consumer Periodicals

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Resident Buying Offices Locate new resources Preview collections Follow up on orders Communicate with retail buyers Purchasing Market week preparations Arrange adjustments Analyze market conditions Plan promotions Pool orders Manage inventory

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Two Types of Buyers Retail buyers: purchase for a retail organization Resident buyers: assist retail buyers in their job; may purchase products for retail buyers

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Model Stock Development An inventory that includes the appropriate assortment of merchandise in terms of prices, styles, size ranges, colors, and fabrics. Constantly changing due to the nature of fashion items.

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Elements of Fashion Buying Qualitative Considerations Quantitative Considerations  Open-to-buy Resource Selections  Fashion perishability  Maintained markup  Stock turnover

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved OTB Calculation Merchandise Needed Merchandise Available Open-to-buy

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Merchandise Needed Formula Planned EOM Inventory + Planned Sales + Planned Markdowns Merchandise Needed

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Merchandise Available Formula Merchandise on hand +Merchandise on order Merchandise available

Diamond: Fashion Retailing: A Multi-Channel Approach. (C) 2006 Pearson Education, Upper Saddle River, NJ All Rights Reserved Trends in Purchase Planning Studying international publication Becoming familiar with global trade expositions Planning for greater proportion of private label merchandise