Answer - 12 option fashion range plan

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Answer - 12 option fashion range plan

ASSESSMENT AND PROJECT BRIEF

Element 1: A report

Context

By any measure the fashion industry is large and complex with different business models competing to capture consumer loyalty and their business. Fundamental to the relationship between consumer and fashion business is the research, creation, sourcing and delivery of a profitable and balanced fashion product offer that accurately reflects current trends, culture & the profile of the target consumers.

Your task

You will create a 12 option fashion range plan

Your individual report will be about the range plan supported with research and analysis.

• Reflect one of a choice of six retail brands: All Saints

• You can create a range for one of the following

-For women

-For men

-But not children (VAT differentials)

• The range create can be

-A coordinated separates collection

-A product type collection

• Be ranged to 5 fictional city centre UK stores of the same size

-You do not need to specify stores

-The following presumptions will be made for the assessment and within the teaching approach

        -Presume that all 5 stores are bricks and mortar stores

        -Do not include online

-Presume 5 stores are the same physical and turnover size

-Presume all 5 stores are in UK city centre locations

• Have an eight-week lifecycle

-The lifecycle refers to the number of weeks that the range will be “prime”

-Prime refers to the range

• • Trading optimally
• • Without fragmentation of option or size

• • Is positioned in a primary location within store

• • Will be a focal point within the total range within store

• At the end of the eight week lifecycle new ranges will take over           -The range will no longer be considered “prime”

-It will fragment and loose appeal 


-Be moved to a secondary location within the store 


-Possibly be marked down or removed from the shop floor until the end of season sale 


• Achieve an average % intake margin of 65%

-Intake margin % measures the difference between the cost price paid to the supplier and the retail selling price charged to the customer

• • Intake margins % vary by
  • • Business model, product type, fashionability country of origin, volume placed
  • • For this assessment reflect differing intake margin % by fashionability
  • • You will need to reflect this within the range plan and ensure that the average intake margin % of all options combined equals a minimum of 65%
  • • Higher than 65% is even better!

• Identifies an open to buy budget (OTB) required to buy the range

• The range will be justified with a report explaining the research undertaken to create the range why it is appropriate for the chosen brand and its target customer

 Structure of your report:

Your report should comprise the following sections:

                              Title page: state name, unit, report title, number of words, date submitted, unit leader. 


                              An executive summary of the report 


                              A table of contents with page numbers for each section of the report 


                              A list of numbered figures, tables and charts 


                              The report structure presented in numbered sections 


                              A reference list using Harvard Referencing style

                              Appendices to include relevant primary and secondary research documentation 


        Submission requirements:

        Format: Individual, Harvard referenced, written report.


        Word count: 1500 words (+/- 10% tolerance). The count includes all text from the first word to the last word of your report. The count does not include: executive summary, title page, table of contents, list of figures, tables and charts in the report, reference list and the appendices. 


     Referencing: your report must be written in an academic form and this includes using Harvard Referencing  

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