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

Using the same company you chose samsung choose a product

Using the same company you chose (Samsung), choose a product or service the company offers on which to focus. Identify the important attributes for your chosen product or service and select two key variables for your per ...

Use the strategic planning outline as a guide to complete

Use the Strategic Planning Outline as a guide to complete sections of your capstone project each week. Write a 1,400- to 1,750-word paper in which you explain the importance of innovation in your selected business's visi ...

Select research and analyze an example of american popular

Select, research and analyze an example of American popular culture's influence on another culture or an example of a non-U.S. culture's influence on American popular culture and media. Do you believe the world is interc ...

Option 1 home building sales reductionyou are the vice

Option #1: Home Building Sales Reduction You are the vice president of sales for a $30 million manufacturer of home building materials. The company employs 50 salespeople around the country to market the company's produc ...

Global marketing case studylarge companies are those with

Global Marketing Case Study Large companies are those with 500 or more employees; midsized companies employ between and 50 and 500 people. Small companies are those with fewer than 50 employees. In March 2011, large comp ...

In response you your answer you provided do you think these

In response you your answer you provided Do you think these explorers were a net positive, or a net negative for the world? Did they do a good thing by expanding into other countries, or did they disrupt those nations wi ...

This project involves examining and blueprinting the

This project involves examining and blueprinting the organization's front stage and back stage operations, interviewing the service manager (or owner) and at least one employee, and developing specific recommendations to ...

Company and product overview slide this slide should

Company and Product Overview Slide This slide should include a brief overview of the pet supply store and its new product. Marketing Strategies Slide From Part I, what marketing strategies are you recommending the pet su ...

Assignment discussion-distribution strategiestoday

Assignment: Discussion-Distribution Strategies Today, companies must decide whether to sell their products directly to their customers via the Internet or to use more traditional methods of distribution. Respond to the f ...

What type of ai systems could your school use to help with

What type of AI systems could your school use to help with registration? Intelligent agents find vast amounts of information very quickly. Neural networks can classify patterns instantaneously. What sorts of information ...

  • 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