Reference no: EM133644120
Homework: Fashion Management- Fashion Consumer and Marketplace
Brief: Buying Cycle Report
Rationale
To remain competitive, fashion retailers need to ensure they not only develop commercial product, but ensure they deliver to the right place at the right time, profitably. To achieve this, retailers strategize and follow a logical cycle to ensure successful and effective product is planned, developed, sources and manufactured to meet the demand of their target customer.
This assessment will widen your contextual understanding of the buying cycle.
Task
Produce a report of 4000 words (+/- 10%) which demonstrates your critical understanding of the processes of the Buying cycle and suggest future recommendations for the retailer. This must be written in third person.
In addition to this you are required to give a 500 word (+/- 10%) reflective statement of your understanding of each element of the buying cycle. Reflecting on the areas you struggled with and how you overcame these barriers. This can be written in first person.
AIM: To research, critically analysis and evaluate a product and retailer through each process of the Buying cycle, then give a reflective summary of your learning journey.
A. Chose a clothing retailer who sells in the UK
1. Retailer example: H&M, Zara, Tesco, M&S, Primark, Reiss, COS, All Saints
B. Choose a clothing product from the above chosen retailer
1. Product example: T-shirt, trousers, jacket, jeans
C. Devise a report structure to communicate your findings.
D. Conduct secondary research by evaluating other retailers - Competition, Trend analysis, Country of Origin, Design/manufacture processes, Marketing and promotional activity, Customer Profile, Sourcing Strategy.
E. Apply your product to the Buying cycle process.
F. Develop essential buying information for your product - Costing information, critical path, Range plan, transportation method, retail outlet method.
G. Conclusion - what has your research lead you to conclude? Review with a SWOT analysis and recommendations for improvements. What are your predictions and recommendations for the next 3 years relating to your retailer?
H. 500 word reflective statement - Reflect on your journey through the module, referring to the processes of the buying cycle, which elements were your strengths and highlight how you overcame any weaknesses. This can be written in third person.
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