Elements and Performance Criteria
- Analyse market
- Workplace marketing and merchandising policies are identified.
- Client requirements are monitored informally in order to evaluate market trends and client needs.
- New products and services are identified.
- Opportunities to improve sales and services are identified.
- Product and service range is monitored to identify the demand for individual items and seasonal variations.
- Market competition is identified.
- Product and service range is planned.
- Plan product and service range
- Service and product range is identified and assessed against workplace policies and procedures, market analysis, sales performance and fashion trends.
- New techniques for service range are identified according to workplace policies and procedures.
- Workplace space requirements and product/service mix are identified according to workplace policies and procedures.
- Maintain supplier relations
- Negotiate supply of goods
- Arrangements with suppliers are negotiated and implemented according to workplace policies and procedures.
- Records of suppliers and stock are monitored for accuracy and legibility and appropriate action taken where necessary.
- Records of negotiations and agreements are conveyed to appropriate personnel within designated time lines.
- Immediate corrective action is taken where potential or actual problems with supply are indicated.
- Product range and source of supply are analysed, evaluated and amended according to management, staff and client feedback.
- Monitor quality control
- Introduce product range
- Maximise profit
- Individual product range contributions are calculated/estimated against budget/targets.
- Product range assessment checks are developed and implemented against budget/targets.
- Profit margins are maximised in negotiations with suppliers.
- Workplace pricing policies for services and products are determined according to stated net profit margin in workplace merchandising plan and legal requirements.
- Specifications for terms of trade are negotiated.
- Rationalise stock