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| Addresses short life-cycle merchandise and fashion/seasonal merchandise with relatively brief selling periods |
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| Traditionally called unit plans- may include model stocks, basic stocks, and/or automated replenishment determined by merchandise defined by style, size, and color |
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Is one that has a well-planned variety of styles, sizes, and colors for special appeal to a specific market- result in satisfied customers & meets merchandising goals
1. Adequate variety to attract target market customers
2. Adequate inventory to prevent stock-outs
3. Minimum investment in slow-moving goods
4. Minimum investment in total revenue
5. Maximum gross margin
6. Maximum gross margin return on inventory
7. Maximum stock turn |
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| Products that have little demand for styling change |
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| The analysis begins with what was sold: how much , what kind, when, and at what price. Projections are made for the coming period, and investment in merchandise is based on previous sales from the perspectives of store managers and department managers |
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| Is a sophisticated form of merchandise planning that, until recently, has had little application in fashion and seasonal goods. Categories should be defines on how the customer buys |
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| Part of a six month plan. Usually based on assumption of improved performance over the same period last year: improved sales, increased turnover, improved profit margins, and reduced markdowns |
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| Include communities in which the firm resides, competitors, customers, employees' families, shareholders, and suppliers |
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| Require frequent changes in styling in order to maintain acceptance by customers |
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| Are the basis of pricing in the retail sector |
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| A combination of the top-down and bottom-down systems. A teamwork approach with input from all of the firm's constituencies. Information technology systems make it possible for everyone in the firm, regardless of organizational tier or constituency, to access the appropriate date and reports |
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| The look and appeal that contributes to the identity and saleability of the line |
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| Provide the foundation for pricing in the manufacturing sector |
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| Is the difference between the cost of merchandise, including its transportation, and selling price |
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| Is a range of choices offered for sale at a particular time- are determined by the relative number of styles, colors and sizes included in the line |
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| Traditionally called dollar plans- identify planned sales, reduction s, and merchandise to receive by merchandise category, class, subclass, or group for a merchandising cycle or a selling period within a merchandising cycle |
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Definition
| Major components of the total merchandise mix |
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| Merchandise Classification Systems |
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| Consist of a set of names and code numbers that break down the total merchandise mix into consistent identifiable groups |
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| Group of merchandise within classes |
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| Brings together multiple dimensions of merchandising decisions making in relation to the merchandising cycle particular merchandise classes, subclasses, or groups. Commonly includes: months of the year, weeks in the merchandising cycle, seasonal events, selling and transition periods pricing plan, and delivery plan |
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| Represents a firms 5 tiers in its organizational structure. Conglomerate , group, corporate, division, and individual store or production unit |
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| Reflects the sales trend as compared to the same selling period last year |
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| Is markdown dollars as a percent of net sales |
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| A graphic means of plotting variation in length of time consumers' demand selected fashion and seasonal products |
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| Is the total sales for the classification during the selling period being evaluated |
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| Experience change in demand related to a combination of factors associated with the calendar year, including ethnic and cultural traditions, seasonal events, and weather |
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| Is defined by an opening date, closing date, and the overall selling trend. Could possibly extend beyond initial plan |
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| Established available levels of investment for merchandise lines and product classifications for each month of the year- last years sales provided the primary basis for six-month plans with possible consideration for the marketing strategy, profit goals, and sales forecasting. |
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| Level to examine exactly how many styles, sizes, and colors could be made available in each classification |
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| For a style is estimated as twice the square root of the variance |
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Products that have little change in demands relative to the time of year. Sell for 52 weeks a year, and often longer at similar rates
EX: batteries & white cotton socks |
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| Identification of a brand |
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| Executive constituency develops the business plan, based on growth projections,prescribes sales goals and dollar investment in merchandise, usually for a six-month period or a year |
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| Time periods between selling periods in the merchandising calendar |
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| The number of times average inventory on hand was sold |
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| Part of the six month plan and is usually based on top-down dollar plans. The quantity if goods that could be made available during the selling period was determined by dividing the dollar allocation by average merchandise price. |
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