Fashion 5 Project #2.
Choose a retail store as the subject for this project. You are a merchandise buyer for this store and you want to bring a new line/brand into your assortment. Create a mini business analysis that justifies this risk.
Product Life Cycle, Consumer Use Cycle, Consumer Buying Cycle – Outline where this concept fits in related to these theories. Why does it make sense to introduce this now? What are some of the things to consider in each phase of these cycles.
Theories of Fashion Adoption – Consider upward, downward and horizontal flow. Where does this concept fit in? How do you predict your concept will move within the theory and why.
Forecasting – Collect relevant data to support this decision. This can include sales reports, industry trends, and public statistics. What resources would you choose to use to help guide your decision and why.
Mark-up and Margin – How will you determine price? Consider margin, competition, image, and marketing
Open to Buy – Create a 6 month OTB plan that supports the launch of this new line. Chapter 7 Clofelter