Fichas
Fashion buying and merchandising
Fichas del conjunto (29)
- 1What are some of the characteristics of a fashion market?- Short life cycles
- High volatility
- Low predictability
- High impulse purchase
(Fernie and Spars, 1998) - 2What are the 3 characteristics of critical lead times- Time-to-market
- Time-to-serve
- Time-to-react - 3Describe the fashion process
- 4What are the 5 phases of the fashion design process?1. Research and Analysis: Gathering information about trends, fabric and new business opportunities
2. Synthesis: Producing a range of samples view by selectors
3. Selection: Preparation of presentation of garments for viewing and selection
4. Manufacturing: Preparing
5. Distribution: Delivery to retailers - 5Name a few bits of research you would conduct when designing a product- Sales figures
- Fashion images
- Textile agents
- Visit fabric exhibitions
- Focus groups
- Attend seminars
- Buy garments - 6What methods are used in analysis?- Focus evenings
- Feedback from the retailer
- Visits to retail sites
- Surveys
- Sales figures - 7What are the 7 things you need to design for mass market?1. Customers
2. Designers
3. Buyers
4. Merchandisers
5. Manufacturers
6. Raw material suppliers
7. Place to retail from - 8Describe the elements of the supply chain
- 9What are some key facts about mass market fashion designing?- A brief needs to be set
- Quality control expectations need to be outlined
- Timetables need to be established (critical path analysis)
- Relationships need to be developed
- Consumer information is vital - 10What are the six buying phases?1. initiate purchase
2. Check requisition information
3. Select supplier
4. Issue order
5. Process order
6. Complete purchase - 11What are the 5 Design phases?1. Research and analysis
2. Synthesis
3. Selection
4. Manufacturing
5. Distribution - 12What are some of a buyers roles?- Predicting fashion trends
- Range planning
- Fabric sourcing
- Garment sourcing
- Negotiating with Vendors - 13What are buyers key skills- Multi-tasker
- Flexible
- Energetic
- Self-motivated
- Creative
- People/ action orientated - 14Define: CharacteristicsPersonal qualities considered to be important to becoming an effective buyer
- 15Stock planning Management Control Are all key roles of whatMerchandising
- 16What does stock management and distribution involve?- Getting stock into business (Macro and micro level)
- Getting stock around business (Distribution/ allocation) - 17What is the difference between macro and micro levels?Macro: Trends/ sales forecasting and marketing strategies e.g. ansoff and boston matrix
Micro: Depth/ breadth - 18What is distribution?Value of stock in total
Planning process - 19What is allocationNumber of lines by colour/ size/ branch
Range plan
Store size
Plan - 20What is the formula for gross margin?Gross margin= (profit/retail selling prices)/ 100
- 21What are the 5 fashion retail planning levels?- line or style
- sub-category
- category
- department
- business - 22Discuss the importance of timing
- 23What is involved in sales planning?Change
Previous sales history
Seasonal sales variation
Seasonal sales peaks
Fundamental sales ratio - 24What is the formula for stock turn?Annual sales value/ average monthly stock value
- 25What is the formula for weeks cover?Weeks in a year/ stock turn
- 26What does WSSI stand for?Weekly sales, stock and intake chart
- 27What are some of the decisions that are driven by WSSI?sales forecast for future weeks
stock levels
repeat buys
mark-downs - 28what are the 5 elements of allocation planning?1. Size ratios
2. Replenishment
3. Delivery schedule
4. Stock fragmentation
5. Promotion plans - 29What are the 2 main merchandise management activities?- Planning stock to be delivered into business
- Moving delivered stock
Información
- Descripción
- Undergraduate Fashion Marketing Fichas sobre Fashion buying and merchandising, creado por polly arnold el 21/12/2015.
- Creado por
- polly arnold
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