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Miller said the quiz is supposed to cover Costing, Beauty, Retailing and Fash-ion Capitals.2 Type of Costing:Pre costing (initial cost)• Direct costs= materials, labor, otherFinal costing = Manufacturer’s Cost (total, real )•Direct costs= materials, labor, other•Indirect costs = design, merchandising, salaries, administration, rent, ins, etc.Retailer’s Cost= Manufacturer’s (Wholesale) costRetail (consumer’s) price = Cost + markupUsually cost is about ½ retail (keystone)(Retail math concept to set retail price)← Beauty, Spa and Wellness:This consists of Cosmetics, fragrances, hair and skin, spas, and centersIt is all about the Mass and prestige.Careers and Positions◦ Research and product developmentMerchandising and MarketingAccount rep/coordinator- •Involved with special events, •Promotions, •Traveling to sitesSales/Account executive-•Sells products to retailers, •Manages the accounts (inventory),•and merchandises.Public relations account executive•Works with media contacts, •PromotesRetail counter, line management•Sell, manages, •Coordinates events •and promotionsWorks with product and peopleWellness Massages, facials, fitness, nutrition centers, spasEsthetics Makeovers and beauty-enhancementReatailing:---is the Distribution of Goods &Services to the ConsumerLast step in the marketing pipeline from concept to consumer in the T & A Industry.All the activities involved int the selling of goods &/or services to the final consumer2 major types-Stored = “bricks & mortar”, traditional store frontNon-stored- catalogs, on-line(etailing), TV, parties, door-to-door, etc.4 major divisions-Plus HR! Every retailer MUST have operations & merchandising.Operations: the physical place, the space and business, as well as products & services.Merchandising: buying & selling for a profit,5 rights of merchandising.Human Resources: Personal matters, hiring, firing, training etc. , Salaries & benefits.Finance/Control: all money matters, accounting & bookkeeping, loss prevention, and debits & credits.Promoting & Marketing: Advertising./Promotion/Marketing, Visual Merch & display, store planning, Public relations, fashion office.Retail Formats:Department stores-many departments under one roofSpecialty stores-one particular type of merchandise or related.(single line, limited or multi-line)Some retailers are classified by characteristics of their merchandise assortments: Broad or Narrow Deep or Shallow Other types of retailers:•Chain stores•Supermarkets •Hypermarkets•Convenience•Off Price•Discount•Mass merchants•E-tailersPros/Cons of a Retailing Career:Pros:Work with newest merchandiseGlobal opportunitiesGreat financial rewardsCompany paid travel if neededStore discountAlways changing & dynamicCons:Long hours & weekendsTough competitionAlways changing & dynamicTypes of discounters:•Full-line•Category killer•Off-price•Closeout store•Manufacturer’s outlet•Warehouse club•SupercenterFour major Fashion Capitals:•Paris, France•Milan, Italy•London, England•NYC, NYOthers:Hong Kong, China, Spain, Germany, Canada, Scandinavia, Taiwan, etc.Paris, France-•Center of haute couture since 1858•Many haute couture houses still exist, ie St. Laurent, Dior, Valentino, etc.•Large rtw shows held at various hotels, major attraction sites, castles, Les Halles, a cul-tural center built on site of famous food market (30,000 buyers attend this show) and other various locations.Milan, Italy-•A leading center for men’s and women’s clothing (grew as leader in the 1970’s)•Known for fine fabrics, knitwear•Strong production base •Haute couture/RTW - Alta Moda•Armani, Versace, Dolce & Gabana, Gucci•Other centers in Italy include Florence and Rome, Lake ComoLondon, England-•London’s Saville Row for men’s wear what Paris had been for women’s wear •60’s-known for Mini’s and Punk•Woolens•80’s/90’s-being revived by designers such as Westwood, Galliano(Dior),


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FSU CTE 2800 - Lecture notes

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