Introduction The following case study will analyze Pam & Susan’s potential expansion of a new store into the Southwest market. The strategy for the expansion is to identify the most appropriate sites for new stores. Traditionally studies have been conducted by the company’s real estate experts where demographics, site visits, and competition were evaluated to come up with estimated sales for the new stores. Unfortunately, actual new store performance has fallen short of the estimates provided by the real estate department. The goal of this analysis is to use statistical methodology to predict sales at 2 potential locations at a much more accurate level and determine which location is likely to have higher sales.
Any stores who show growth over last year will be rated as successful. In a time of slow economic growth, any growth will be celebrated. The stores will be ranked against one another by size. Stores will know where they stand and can alter their plan accordingly. Several areas will be evaluated, but profit growth over last year will be the determining measure.
How does the type of buyer or consumer affect marketing strategy? As part of your response, consider the characteristics of buyers and the factors that influence their purchasing decision. How can an organization ensure that their market strategy is appropriate for their target market? MKT 421 Marketing Week 3 DQ
Terry estimated her investment on the product should be 75,000 to 95,000 in inventory to begin with considering off peak times when customers are likely to buy. This scenario indicates a great way to contingency planning because Terry has thought about possible problems such as seasonal peak and valleys she might run into. She has prepared this issue by finding an alternative way to still sell her products even with off peak times by creating a website for customers from all over to purchase. She has also prepared herself to dedicate more time working longer hours at the store to be available to potential customers. Nevertheless, Terry has some excellent solutions to her planning although she has some aspects of her business goal I find might need some modifications.
A 20% discount of original price for a period of one week. In the second special sale will offer a 30% discount from its original price per unit. According as remaining inventory the company will be clearance with a 50% and offer free one jean with the purchase. The goal of the proposal is to bring the inventory to the minimum amount available to avoid storage costs and prepare for the upcoming shopping season. The experience with excess inventory event has prompted owners of La Boutique C, to be more careful in buying merchandise after the output has no time.
Other key factors are to maintain a record of the inventory that is being sold so the store can better equip products in all three locales and provide for better product placement within all Kudler stores. The design trade-off approach for the project is as follows. A trade-off for the company to increase revenue will be the expenditures for the frequent buyer program, because essentially the company will not see a return profit for an allotted time. The implemented program will allow the company to see a small profit after the first year of the program being implemented. Another trade-off for the company will be the stores performance.
While many will only be looking for other dollar stores following exactly the same format, that is incorrect. In today's marketplace all types of retailers are adding dollar departments and dollar aisles to their stores. Every one of these companies represents a threat to your business. It's important that you know them and what they are doing. Determine how best to use your company's strengths to overcome the strengths and overall performance of the competition you've found.
Use the “Business Plan Financials Guide” (see: Course Required Files in Week 1) to support your development of the Marketing Budget. 6. Complete the Marketing Budget worksheet for your company. o Hints: The goal of the marketing budget is to help you determine how much it will cost you to reach your market and achieve your sales goals. Hints: When filling out the “Marketing Budget” worksheet in the Excel spreadsheet: o Begin in the current year and complete a marketing budget for the first year of your business.
I have a working knowledge of the items that are being sold and can offer personal experiance as to why they should purchase from the store. .Urban Outfitters is a place where teens go. It helps me forget all my troubles somehow. The clothes are so trendy and up to date and really help me make a fashion statement.Also the clothes look great on every skin color and texture. | 2.
Case Study 2 Sheree Starkey p.246 PLANNING FOR FAST FASHION AT ZARA 1a. Which of the three sales forecasting methods would you recommend Zara’s planners use for projecting sales item by item? I would recommend that Zara”s planner’s use the Salesforce Estimation Method for projecting sales item by item. 1b. Why?