Creating a business

timer Asked: Nov 10th, 2016

Question description

I also attached it below

This project will be both Visual and Written. It will be presented to the class on-line.
On the same day you will hand in your written paper . Both pieces of this
project must be able to stand alone.
You will do a voice over for your powerpoint so it can be watched at the convenience
of the student. It does not have to be presented "live"
The project will be graded as follows : Oral Presentation 10%
Written Paper 15 %
All visuals - charts, graphs , floor plans, advertising campaigns, assortment plans
and purchase orders will be counted as part of your Total Presentation.
To function as a buyer, planner and merchandiser To plan, buy and assort the business
of your choice using the merchandising concepts learned in class during the semester.
To distribute your buy to stores and fixtures based on the parameters of your business.
To create a pricing and promotional plan that will attract the customer to your business.
1 Pick a department or category of merchandise that you would
like to be the merchant for. Keep in mind that you will need to represent your
department visually using fashion websites, magazines sketches, etc.
You can pick an existing department in a store or create one of your own. You can be
branded merchandise or private label. You must "OK" this business with me
before you begin.
2 Break down your department into classifications. You must have at least
5 classifications representing distinct differences within the department.
Be specific. For example: A Swim department may have, 1. tank 2. bikini
3. tankini 4. maillot and 5. cover-ups
3 What styles are you going to buy? Pick the assortment you would like to
see on the floor for the season you are buying for. Research magazines, fashion
forecasting sites, existing retailers, to help you decide what to buy . Shop the stores, I want you
get out from behind your computers! You need to see how your Department is merchandised.
You will then build an assortment by cutting out the examples that represent each classification
and key item. Make sure key items are a meaningful % of your classification.
Remember not every class has to have a key item and some classes may have more than one.
3 Think about what you want your department to look like and lay
out a floor plan. Draw the fixtures (t-stands, 4-ways, tables, wall presentations)
(Your department should not have less than 10 fixtures or more than 20.)
Remember this is a Planogram that store managers will have to read and
follow on how to set up the floor. Be detailed and specific on what classification
and item you want on each fixture. Show what styles you want up front and on the
walls. Make sure your department is organized and has direction.
The Financials
1 You will be making your buy for 10 stores. You will assign a cost and
retail to each item in your department. When you are done you will total up the
buy, by vendor, on purchase orders. If you have 5 vendors than you will need 5
separate purchase orders. You will have TWO clusters for this buy. It will be your decision on
how many stores will be in each cluster and the differences in Customer base. This must be
documented in your projects.
2 Total up your purchases by classification. How much does each
classification represent to the total department. Include key items.
3 EXTRA CREDIT- Create a 6 month plan for your Department.
Include by month; sales, markdowns, receipts, BOM and EOM stocks.
Include your buy as the first two months receipts .
Include stock turn and average stock for the total season..
How will you promote this business. BE CREATIVE, show examples.
What types of media will you use and what style of advertising will be most
advantageous to your business.
Give time frames for ads based on when you plan your business to be in stores..
Written Paper
Your paper will include: 1.Visual and written examples of assortment,
classifications and styles including charts and graphs.
2. The detailed floor plan laying out how the buy will be merchandised.
3. The purchase orders with all the costs, retails and markups.
4. The Advertising and Promotional Plans.
5. The 6 Month Plan (extra credit)
Also included on your paper will be. 1. A customer profile- Who is your
customer, be specific on demographics and buying habits.
2. Where are your stores located? - What city , state or country and what
is the profile of the location of the store you are buying for.
3. Why did you choose this business. What are the key trends . Research
what is happening in your business today?, Is it a growing category, what about imports,
major brands, and your competition. Anything you need to know to run your business should be
included in your presentation.
responsibility to select a partner that has compatible work habits and interests.
Your team will receive ONE grade, so make sure you are able to work well with
your partner.
Please confirm your partner and the segment of business you are
buying. Good Luck and remember I am here to answer any questions
or help in any way. Do yourself a favor and start early , this is a major undertaking and will need
time to complete. I promise that if you do a great job on this project you will be able to use for your
portfolio and will be very impressive to potential employers.

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