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Merchandise planning

Merchandise planning. Unit assortment planning. Merchandise planning process. Formulation of objectives Establishment of policies Implementation of policies to carry out department or store objectives Dollar planning – budgets Unit planning – basic stock list and model stock plan.

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Merchandise planning

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  1. Merchandise planning Unit assortment planning

  2. Merchandise planning process • Formulation of objectives • Establishment of policies • Implementation of policies to carry out department or store objectives • Dollar planning – budgets • Unit planning – basic stock list and model stock plan

  3. Considerations in unit planning • Merchandise quality. • Price range • Choice of national brands or private brands • Good taste • Proper timing/product life cycle • Variety of product lines (product mix) • Assortment strategy

  4. Factors affecting Unit planning • Type of retail institution • Past sales records • Determination of consumer wants • Type of goods offered • Elimination of merchandise

  5. Type of Retail Institution • Consistency • Availability of capital resources • Particular trading area served by the store • Nature of goods carried • Competition in the trading area

  6. Past Sales Records • Considerations: • weather • economic trends • labor strikes • supply conditions • market opportunities • anything that affected sales activity in a period

  7. Determination of consumer wants

  8. Types of Goods Offered • Fashion goods • Soft goods • Hard goods • Seasonal goods • Convenience goods • Staple • Impulse • Shopping goods • Specialty goods • Elimination of merchandise lines

  9. Avoiding MistakesKnowing when to eliminate products • Pay attention to stock turnover and rate of sales for each item • Does a substitute that offer better merchandising opportunities? • Have merchandising efforts have failed to improve the sale of goods? • Does it contributes to the sales of other products?

  10. Planning a basic stock list • Planning a basic stock list • Homogeneous and heterogeneous staples • Seasonal and non-seasonal staples

  11. Planning a Model Stock Plan • Classification • Price • Size • Materials • Color

  12. Quantity to Purchase • Period for which purchasing is done • Estimated sales for the period • Merchandise on-hand and on-order • Desired merchandise at the end of the period.

  13. Period for which the purchasing is done • Open-to-buy • Hand-to-mouth buying • Speculative buying • Quantity discount

  14. Desired merchandise at the end of the period • Sales trends • Popularity of fashion • Stage in the product life cycle • Price fluctuations in the marketplace • Availability of supplies and materials • Types of goods remaining in stock • Type of retail institution • Supply conditions • Discounts • Is it a new item?

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