Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Marketing Management Expert

Attempt all the problems.

Section-A

problem1) Describe the significance of sourcing in merchandise process.

problem2) What is the difference between four methods of dollar merchandise planning used to determine the proper inventory stock levels needed to begin a merchandise selling period?

problem3) What do you mean by sales per square foot? Why do we use it in computing performance measure in merchandise category? Comment with appropriate exs.

problem4)a) What is ECR ? Describe the scope of ECR.

b) Describe the information flow in ECR system.

Section-B

Marks & Spencer And Dewhirst

Partnership between Marks & Spencer and Dewhirst is perhaps one of the longest standing business partnerships of all time.  It began in 1894 when Michael Marks, a stallholder in Leeds Market Hall, formed a partnership with Tom Spencer, who had previously worked as the cashier for wholesale company I.J. Dewhirst.  The two companies have continued to trade, and Dewhirst is now the world-class manufacturing company in its own right, as well as being the second largest non-food Marks & Spencer supplier.

Dewhirst has its roots in supplying textile products to M&S, but product expansion into areas like toiletries has given Dewhirst the opportunity to diversify.  In 1998, Marks & Spencer launched the salon-formulation hair-care range in response to the growing interest in healthy hair and consumers’ willingness to purchase upmarket hair products.  The following account follows introduction of new product range, highlighting the relationship between supplier and retailer as they work together to bring a product idea to market.

Richard Fawdry, merchandiser for toiletries at Marks & Spencer, talks to his contact, Sales Director Lorraine Crosby at Dewhirst, everyday.  Dewhirst is one of six suppliers to toiletries department and has the toiletries product development team who work exclusively on Marks & Spencer products.  In the spring of 1997, Lorraine suggested to Richard that marks & Spencer can develop a premium priced ‘salon formulation’ hair care range.  Richard was interested and asked Dewhirst to make some proposals.

The initial stage of product development was the generation of themed story boards, pulling together ideas on product ingredients and packaging designs including bottle shapes, caps, and openings, labels, colours and product textures. These were used in product brainstorming sessions involving designers, selectors and merchandisers from M&S and product designers and marketers from the Dewhirst organization.

Next stage involved intensive discussion on the size of the range and target price points.  A few bottles of shampoo will not make the adequate presence, but space constraints within the store meant that the new product launch will result in less space for other products prototype began.  For this, a product development representative from Dewhirst visited laboratories in California, where best hair-care formulations are made, using all the latest ingredients and technology.

Marks & Spencer didn’t get heavily involved in the formulations of the hair products, trusting Dewhirst as the product experts to come up with the product appropriate for the Marks & Spencer customer.  Lorraine, in the meantime, kept Richard informed on all aspects of product’s progress. When formulation had been agreed between toiletries technologist at M&S and Dewhirst technicians, it was blind tested with consumers. Meanwhile, product features like packaging and product information were considered in detail, with the aim of producing a product with worldwide appeal at price levels considered to be value for money, especially to the largest customer group, the UK.  Exchange of design information were facilitated by an EDI/CAM link up between the two companies. Every detail of the product was discussed in depth, with final selling price as a key influence in the negotiations.

Ultimately the Richard worked on a detailed sales estimate for the range.  He considered how wide the gap in the market is for this range, how strong is the competition from other hair care brands and retailers, and how much market share Marks & Spencer could expect to take.  Lorraine provided some information to Richard on the market structure and competing retailers to help with this task.  Richard also needed to decide if all the M&S stores would take the hair-care range and, if they do, whether they will take all the different product variations. The final sales estimate was given to Dewhirst, so that they can start planning production in the factories to meet delivery schedule.

Point of sale material to support launch was generated by Marks & Spencer’s graphics department, using product prototypes supplied by Dewhirst in the photography.  The finalized range planning was presented at a merchandise review and was endorsed by the Marks & Spencer board of directors.  Once the product launch was successfully underway, Lorraine and Richard went for an after-work celebratory dink!

problem5) problems:

a) Why is the type and assortment of merchandise give so much of importance in retailing?

b) Why is the target price points, packing and product information key deciding factor for product selection in retail outlet like Marks & Spencer?

Marketing Management, Management Studies

  • Category:- Marketing Management
  • Reference No.:- M93622
  • Price:- $70

Priced at Now at $70, Verified Solution

Have any Question? 


Related Questions in Marketing Management

The buying processevery product or service has a buying

The Buying Process Every product or service has a buying process, even digital products and services. In this assignment, you will research and analyze the buying process for an online product or service, with which you ...

Assignment business marketingin this assignment you will

Assignment : Business Marketing In this Assignment, you will create an audiovisual presentation to verbally market a product to another business rather than to consumers. According to Lamb et al. (2014), business marketi ...

In this assignment you will review an article analyzing the

In this assignment, you will review an article analyzing the personal and positional sources of power of a famous businessman, Steve Jobs. His innovation, creativity, and boldness have earned Apple Computers worldwide su ...

E-commerce marketing and advertising conceptsuse the above

E-Commerce Marketing and Advertising Concepts Use the above Online Consumer Purchasing Model and information provided to assess the effectiveness of an e-mail marketing campaign for a small-sized e-commerce company focus ...

If the measures used in research had no measurement error

If the measures used in research had no measurement error whatsoever, would researchers obtain weaker or stronger findings in their studies? (This one may require some thought.)

A race car completes a lap on a 1600 m long track with an

A race car completes a lap on a 1600 m long track with an average speed of 250 km/h. If the car's average speed on the first half of the track was 205 km/h, what was its average speed on the second half?

A ideal transformer has 50 turns in its primary and 250

A ideal transformer has 50 turns in its primary and 250 turns in its secondary. a) Calculate the voltage in the secondary if 12 V DC is connected to primary b) Calculate the voltage in the secondary if 12V AC is connecte ...

Organization and management theory instructionsbulluse

Organization and Management Theory Instructions: • Use Microsoft word 2010informulatingyouranswers. • Write the answers in your language and avoid copying from the internet. Answer the following questions: 1. What is org ...

Watch this video write a short paper answering the 2

Watch this video, write a short paper answering the (2) questions: https://www.youtube.com/watch?v=zZO-yBEXAZQ Jonathan Mildenhall, who was named to Ad Age's Creativity 50 in 2012, was senior VP integrated marketing comm ...

Question 1 the marketing control process is important as it

QUESTION 1. The marketing control process is important as it provides the opportunity for an organization to adapt to both external and internal environmental change. Discuss two internal sources and two external sources ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen