Being a buyer

Anonymous
timer Asked: Nov 17th, 2016

Question description

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..

Advertising

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.

Tutor Answer

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School: University of Maryland
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