Buying and Merchandising Essay Example | Topics and Well Written Essays - 1250 words

Buying and Merchandising - Essay Example People especially the young generations are becoming highly brand conscious and the marketers are using this factor of consumer behavior for the marketing planning which includes promotions and mainly the sales plan (VERDICT, 2006, p.4). Pricing and promotions are the two key are of marketing plan mainly for apparels and fashionable accessories of women as well as men. At earlier day’s top retailers in this market used to focus only on the female accessories and apparels as the trend women fashion industry was always high but now a days the demand for fashionable and braded men accessories like tie, wallet, belt etc are in growing trend. So, retailers are including men’s accessories in the women accessories stores. So, this report is all about the sales plan of men’s accessories in a women only accessories stores and the pricing of the men accessories from basic price range to premium (Evanchitzky, Vogel & Ahlert, 2007, p.15). Aims and Objectives The main aims an d objective of this business report is to develop an effective sales plan for the men’s essential accessories like tie, wallet and belt. ... Pricing objective is to develop a price range of these products considering the increasing personal disposable income of the younger generations and their follow of new trends. So these objectives of this business report will be satisfied if the gap or weakness of the sales strategies of the value retailers or the top brands are find out. Range Plans From the efficient market research it has been found that the accessories market in the United Kingdom has a steady growth and this growing trend of this market was due the earlier female fashion trend. But now the trend of using fashionable essential accessories of men’s can be found in this market and this gap or the weakness of the luxury brands. There is huge market size of the potential buyers who wants to keep their lifestyle with the new trend. But these are younger school and college going boys who only have the personal disposable income for buying these essential but fashionable products. So the price range for these pro ducts needs to be of a diverse like from basic range to standard price range not the premium range of products which the value retailers have already focused fort the professional men with high income level (Mintel. 2012, p.12). These men’s accessories will be added with the women products in high streets female only accessories shop. As there are many younger men comes to these high streets shops with their female friends and they are the potential customers. In the basic categories there needs to be three different sub categories based on the slightly price difference so that the consumers of basic products categories can satisfy with varieties of price along with the color variety. These