This term we're starting the buying and merchandising unit. I was really looking forward to starting this as promotion is the career path that i want to follow, and so far it hasn't disappointed.
WE've covered the basics of what exactly a buyer, merchandiser and the assistants do in their job which was very useful. This week we looked at putting the collection together and the different aspects you have to think about such as who your customer is and then thinking about their lifestyle-job, magazines read, socio economic group.
We looked into price architecture, and how a balanced range must incorporate lead, mid and prenium price to achieve maximum results. Under price architecture you also come across a price matrix which places shops on a scale deending on their fashionability and price. This allows you to see the competitors in your area of the market or where there would be gaps.
Finaly analysing history is another imortant factor in collection buliding and decing what will be in store next season as it helps you to evaluate the strengths, weaknesses, and oppotunities.
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