To remain competitive, fashion retailers need to ensure they not only develop commercial product, but ensure they deliver to the right place at the right time, profitably. To achieve this, retailers strategize and follow a logical cycle to ensure successful and effective product is planned, developed, sources and manufactured to meet the demand of their target customer.
MODULE ASSESSMENT
ASSESSMENT BRIEF
FMAN3000
FASHION COMSUMER AND MARKETPLACE
CREDIT VALUE:
30 Credits
WORTH:
100% of module
TYPE:
Written Report 4000 words and 500 word reflective synopsis +/- 10%
ASSESSORS: Claire Marsh & Karen Hickinbotham
HAND IN:
Week 25
Monday 18th March 2024
12pm midday via Turnitin
BUYING CYCLE REPORT
ASSESSMENT BRIEF : Buying Cycle Report
Hand in week 25 (Monday 18th March 2024, midday)
RATIONALE
To remain competitive, fashion retailers need to ensure they not only develop commercial product, but ensure they deliver to the right place at the right time, profitably. To achieve this, retailers strategize and follow a logical cycle to ensure successful and effective product is planned, developed, sources and manufactured to meet the demand of their target customer.
This assessment will widen your contextual understanding of the buying cycle.
YOUR TASK
Produce a report of 4000 words (+/- 10%) which demonstrates your critical understanding of the processes of the Buying cycle and suggest future recommendations for the retailer. This must be written in third person.
In addition to this you are required to give a 500 word (+/- 10%) reflective statement of your understanding of each element of the buying cycle. Reflecting on the areas you struggled with and how you overcame these barriers. This can be written in first person.
AIM: To research, critically analysis and evaluate a product and retailer through each process of the Buying cycle, then give a reflective summary of your learning journey.
OBJECTIVES:
1. Chose a clothing retailer who sells in the UK
a. Retailer example: H&M, Zara, Tesco, M&S, Primark, Reiss, COS, All Saints
2. Choose a clothing product from the above chosen retailer
a. Product example: T-shirt, trousers, jacket, jeans
3. Devise a report structure to communicate your findings (see pages 10 & 11)
4. Conduct secondary research by evaluating other retailers (L.O.2) – Competition, Trend analysis, Country of Origin, Design/manufacture processes, Marketing and promotional activity, Customer Profile, Sourcing Strategy.
5. Apply your product to the Buying cycle process.
6. Develop essential buying information for your product – Costing information, critical path, Range plan, transportation method, retail outlet method.
7. Conclusion – what has your research lead you to conclude? Review with a SWOT analysis and recommendations for improvements. What are your predictions and recommendations for the next 3 years relating to your retailer? (L.O.4)
8. 500 word reflective statement – Reflect on your journey through the module, referring to the processes of the buying cycle, which elements were your strengths and highlight how you overcame any weaknesses. This can be written in third person.
A diagram of a product cycle Description automatically generated
REPORT FORMAT
Produce a digital report of a max 4000 words +/- 10%
Wordcount from Introduction to end of Conclusion, not including figures and tables.
Consider the accessibility of your work (use font size 12 and 1.5 line spacing) and make sure any figures are readable.
The body of your assignment should be written in third person.
Use the following as a basic guide to your contents page and structure;
Front page
· Title
· Module code (FMAN3000)
· Module Name (Fashion Buying Management)
· State Chosen Retailer
· State Chosen Product
· Students name
· Students ID
Contents
· List of figures
· List of tables
· Introduction
Include the stages of the Buying Cycle as part of your contents and use to show critical thinking:
· Buying Cycle overview
· Retail pyramid
· Customer profiles
· Roles & responsibilities of Buying dept
· Purpose of the Critical Path and examples of possible issues and suggestions to resolve them
· Strategies (market trends/comp shops, sales information, supplier intel, political & social influences)
· Design & Trend (influences)
· Range Build (base plan, option count, best & worst sellers, product mix, budgets/financial targets, the range plan)
· Sampling & fit process
· Sourcing (supplier analysis, regional strengths & weaknesses, lead times, sustainability and ethical policies)
· Quality Assurance & testing requirements
· Production & delivery from factory to retailer
Discussion – pull your research together and link your sections
· Conclusion – what are your learnings about your retailer and product of choice?
· Recommendations – what can they do to improve their business? How will they do this? What will it achieve? Give examples to support your suggestions.
· 500 word reflection of your understanding of the buying cycle processes
· Reference list
· Appendix
· Self-assessment form
Make sure you use Harvard Referencing format – https://library.dmu.ac.uk/refguide/harvard
NOTES;
Appendices
Appendices should be used to show a copy of primary research findings and any further supporting evidence which may not be deemed appropriate to include within the main body of the report. Any large or detailed findings which would disrupt the flow of reading should be placed in the appendices. All material in the appendices should be referred to within the main body of the report.
Visual imagery
You are strongly encouraged to use visual imagery throughout your report. Please ensure they are correctly titled ‘figure number. Description (source, year)’ as per the Harvard referencing method. All figures must be listed within the ‘list of figures’ placed at the beginning of the report, after the contents page.
References
You are encouraged to read and research as widely as possible to better inform your knowledge and your work. References must be included within the reference list and presented in alphabetical order as per the Harvard reference method. Visit https://library.dmu.ac.uk/refguide to help get your referencing correct.
Hand in
The hand in is Week 25, date Monday 18th March 2024 12pm (midday) by Turnitin accessible from the FMAN3000 blackboard shell. Please ensure you leave adequate time to submit in a case of technical difficulties (e.g. 24 hours before hand in).
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