Pre-Planning Stage for Development of the Six Month Plan: The Environmental Scan

Welcome to the (Section 3, Part 2): Pre-Planning Stage for Development of the Six Month Plan: The Environmental Scan course.

 

We recommend printing off the course content reference guide via the button below to assist you in the Retail Math for a Profit: How to Think Like a Buyer courses.

 

Macro Trends Affecting the Marketplace

The first stage of development for creating The Six Month Merchandise Plan is the Preplan Stage. This stage provides the foundation for making critical decisions relating to the calculation of the future merchandise plan. As previously discussed, it is a continuous process of gathering information about the current environment in which the retailer is operating.

 

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Micro Trends Emphasizing the Target Consumer

The microenvironment consists of: a) the company, b) suppliers of the company, c) marketing intermediaries, d) other groups impacting business, e) employees and management, f) competitors, and g) target consumers. The buyer must constantly track all these factors. Each impact, in some degree, decisions concerning the creation of a profitable Six Month Merchandise plan.

 

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The Buying-Selling Process

In addition to analyzing the macroenvironment and microenvironment factors impacting The Six Month Merchandise Plan, the retail buyer must constantly multitask in order to complete all the job responsibilities, duties, and activities in an ordinary work day. For many buyers, those duties include the following activities: a) planning and evaluating in order to develop The Six Month Merchandise Budget, b) procuring merchandise, c) promoting merchandise, d) merchandising the department, e) supervising personnel, and f) managing the department.

 

Generally all buyers are responsible for planning and evaluating, procuring, and assisting in promoting merchandise. However, buyers who work in group or corporate offices usually assist, or are not responsible at all, for merchandising the department, supervising personnel, or managing the department/store. Due to the scope of this course, only planning and evaluating, procuring merchandise, promoting merchandise, and merchandising the department will be investigated.

 

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