Lecture Two Flashcards
What is the qualitative role?
To be a problem solver to all consumers needs. Capture there interest which is all down to the range of the product
How do fashion businesses stay relevant
Keeping up to date with trends
Pricing architecture
Fabrication
Correct sizing
Roles of a product
The role of a product is to hit a balance of meeting needs and wants and making profit
What is operating trading
It manages the flow of product into and out the business
What is the concept of the carrier bag model?
To lay out a generic process of the buying Cole that breaks down the buying to easier steps
The carrier bag model?
Research - making fashion research
Concept - creating a range concept
Product development - finalise concept
Sourcing - sourcing suppliers and manufactures
Shipping - shipping and delivery
Warehouse - allocated to a warehouse
Distribution - delivering initial stores and allocation
Retail - display, sales and promotion
Carrier bag - consumer purchases = profit to the business
Buyer role in the carrier bag model?
Research - researching past ranges, competitors and future trends
Concept - taking from research creating mood boards and range ideas
Development - option range plans and product specification
Sourcing - negotiation and agreement with suppliers and manufacture
Manufacturing - oversight creation
Shipping - final approve
Warehouse - final review of product
Distribution - providing product trains and looks books
Retail - reviews ranges and competitors trends
Carrier bag - end of unit sold
Merch role in carrier bag concept?
Research - economic trends, future products and review past ranges
Concept - research into financial budgets and open to buy budgets
Product development - range plan, unit plan and budget plan
Sourcing -negotiations with prices and budgets
Manufacturing - over sight of orders compared to delivery phasing
Shipping - finalise and allow shipment
Warehouse - allocation plans and product distribution
Distribution - oversight product allocation
Retail - review rage plan, changes for future
Carrier bag - end of season, sale of unit of the range
What is the context of a product?
Buying and merchandising changes the delivery of the product ranges that reflects on the creative direction and wealth of a fashion business
(The product should reflect wealth and creativity)
