Question
“Every product category and brand which deals with life-style or fashion operates generally in the core and fashion range”.
The statement highlights a fundamental aspect of the fashion and lifestyle industry, where products are typically categorized into two distinct ranges: the core range and the fashion range. Understanding the dynamics of these ranges is crucial for effective buying and merchandising, as they directly impact inventory management, consumer preferences, and overall sales strategies.
The core range refers to the staple products that are essential for a brand's identity and customer base. These items are usually characterized by their timeless designs, consistent demand, and ability to appeal to a broad audience. For instance, in a clothing brand, core items _____________ ____________ ___________ _______ ____________ ______ ___ ______ ____________ ____ _____________ _____ ______.
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What is pricing? Explain different types of pricing commonly used in the retail business. Discuss different factors that affect pricing of merchandising in the retail business.
“Unit planning is another way of placing orders for the requirement of the merchandise”.
Open to buy (OTB)
What do you mean by ‘Method of Presentation? Discuss ideal presentation standards in the retail store giving suitable examples.
Net return on inventory and Gross margin return on inventory
Markdowns
"Unit planning is another way of placing orders for the requirement of the merchandise".
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