Retail Fashion Scenario and Strategy Planning
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About this ebook
The book outlines the fundamental principles and mechanisms that are applied in fashion retailing during the scenario plotting in the future business environment and strategic planning and implementation phases for all critical operational areas required to build a successful and sustainable fashion clothing business. It will be particularly beneficial to students and those who are maybe considering a career in the industry. Individuals who are already part of the fashion buying and merchandising community will find this book to be invaluable in that it provides a complete simplified overview of all the integral activities and roles that go to make up the topic and thereby will provide a broader insight into their own career.
Charles Nesbitt
CHARLES NESBITT graduated with a degree in Economics specialising in Business Economics from Stellenbosch University, South Africa. He spent thirty five years at a leading retailer in Southern Africa where he was exposed to all the key disciplines of retailing during this period.
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Book preview
Retail Fashion Scenario and Strategy Planning - Charles Nesbitt
Retail Fashion Scenario and Strategy Planning
by
Charles Nesbitt
Copyright ©2016 by Charles Nesbitt. All rights reserved.
Copyright and ISBN page
This eBook is licensed for your personal use only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to your favourite eBook retailer and purchase your own copy. Thank you for respecting the hard work of this author.
Also by Charles Nesbitt
FUNDAMENTALS FOR SUCCESSFUL AND SUSTAINABLE FASHION BUYING AND MERCHANDISING
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FUNDAMENTALS FOR FASHION RETAIL STRATEGY PLANNING AND IMPLEMENTATION
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FUNDAMENTALS FOR FASHION RETAIL ARITHMETIC, ASSORTMENT PLANNING AND TRADING
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FUNDAMENTALS OF FASHION RETAIL, TECHNOLOGY, MANUFACTURING AND SUPPLIER MANAGEMENT
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THE COMPLETE JOURNAL OF FASHION RETAIL BUYING AND MERCHANDISING
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RETAIL FASHION ARITHMETIC
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RETAIL FASHION PROCUREMENT TEAM ROLES AND PROCESSES
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RETAIL FASHION ASSORTMENT MERCHANDISE PLANNING AND TRADING
Table of Contents
PREFACE
INTRODUCTION
SCENARIO PLANNING
The changing of the way we work
Preparation of a Scenario Plan
Selection of key drivers
Brainstorming
The eighty twenty rule
Presentation of scenarios
STRATEGIC PLANNING
STRATEGIC STAKEHOLDERS
Business unit strategy
Brand strategy
Brand strategy
Customer strategy
Product planning strategy
CONCLUSION
PREFACE
The process of buying and selling in some form or other of goods has been with us since time immemorial. Often when one stands in bewilderment in an elegant shopping mall and wonder how all the stores are able to effectively seduce the many shoppers trawling the wide corridors to readily part with their well-earned money while at the same time enabling them to possibly enjoy a wonderful social experience.
The plan of offering goods to the potential customer is a complicated one and is a science that involves many players whose individual contributions slot seamlessly together and are so perfectly co-ordinated that it provides the perception that it is the result of one individual concerted effort.
In order that this is most effectively done requires careful planning and formulation of a chain of events that are designed to deliver the envisioned objectives that will guarantee the development of a successful and sustainable business. An ideal saying is if you do not know where you are going you may well end up somewhere else
.
The reality is that we exist in a time that is complex, risky while also opportunistic but with more hostile competitors change happens more frequently with the result that it is becoming harder to manage businesses with increased workloads and challenges making it important to take quicker decisions.
It is therefore imperative that having a concise strategy in place helps to focus on the right customers and to link the philosophies and values to the customers and stakeholders in such a way that it is sustainable over the longer term. The strategy informs, focuses attention and inspires performance. It should be simple, clear and compelling while still being multifaceted and challenging. Consistency is absolutely vital to provide the road map to be followed by the operational and tactical planned activities. If these principles are not strictly adhered to in all likelihood the unsuccessful execution of the strategy can be the unpleasant consequence.
In order to avoid this happening there needs to be a pre-planned setting of goals that are realistic, specific and quantifiable that are achieved via a set design of tactical operational actions. Strategy can be described as a basic process that leads change in the business. To do this a view of the future is required in order to know what needs to be done to operate in the new world. The end result should be the addition of sustainable value to the customer which will ensure the survival and future success of the organisation.
Leading companies are well aware that to maintain the competitive edge and achieve success they need to have an effective strategic plan in place.
This book endeavours to try and outline the rudimentary key principles and mechanisms by which this happens and should be helpful to students, people in retailing and those who are maybe considering a career in the industry. For those who already