Integrated set reflecting theory of markdown management

Assignment Help Management Theories

Reference no: EM133204871 , Length: Word count: 2 Pages

Assignment Part 1: A problem facing shoe store managers is that many shoes eventually must be sold at markdown prices. This prompts a manufacturer to conduct a mail survey of shoe store managers in which we ask, "What methods have you found most successful for reducing the problem of high markdowns?"We are interested in extracting as much information as possible from these answers to better understand the full range of strategies that store manager's use. Establish what you think are category sets to code 500 responses similar to the 14 given here. Try to develop an integrated set of categories that reflects your theory of markdown management. After developing the set, use it to code the 14 responses.

Have not found the answer. As long as we buy style shoes, we will have markdowns. We use PMs on slow merchandise, but it does not eliminate markdowns. (PM stands for "push-money"-special cash bonuses for selling a particular brand and style of shoe.)
Using PMs before too old. Also reducing price during season. Holding meetings with salespeople indicating which shoes to push. By putting PMs on any slow-selling items and promoting same. More careful check of shoes purchased.
Keep a close watch on your stock, and mark down when you have to-that is, rather than wait, take a small markdown on a shoe that is not moving at the time.
Using the PM method.
Less advance buying-more dependence on in-stock shoes.
Sales-catch bad guys before it's too late and close out.
Buy as much good merchandise as you can at special prices to help make up some markdowns.
Reducing opening buys and depending on ?ll-in service.
Buy more frequently, better buying, PMs on slow-moving merchandise.
Careful buying at lowest prices. Cash on the buying line. Buying closeouts, FDs, overstock, cancellations." (FD stands for "factory-discontinued" style.)
By buying less "changeable" shoes. Buy only what you need, watch sizes, don't go overboard on new fads
Buying more staple merchandise. Buying more from fewer lines. Sticking with better nationally advertised merchandise.
No successful method with the current style situation. Manufacturers are experimenting, the retailer takes the markdowns-cuts gross pro?t by about 3 percent-keep your stock at lowest level without losing sales.

Assignment Part 2: A local health agency is experimenting with two appeal letters, A and B, with which to raise funds. It sends out 400of the A appeal and 400 of the B appeal (each sub sample is divided equally among working-class and middle-class neighborhoods). The solicitation secures the results shown in the following table.

A. Which appeal is the best?

B. Which class responded better to which letter?

C. Is appeal or social class a more powerful independent variable?

	Appeal A		Appeal B
	Middle Class %	Working Class %	Middle Class %	Working Class %
Contribution	20	40	15	30
No Contribution	80	60	85	70
Total	100	100	100	100

Reference no: EM133204871

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