Range Planning for the Season

Range Planning
Before the onset of a season – winter or summer an essential component of buying is preparing a range plan.. Whereas the overall budgetary planning as well as the buying strategy would already have been defined at the senior management level . The range plan would be a combination of the elements of buying strategy and budgetary plans.
Range Plan Structure
The first step in the process of making a range plan should be the structure wherein the following components would needed to be addressed

a) Range Profile
b) Range Width
c) Average Selling Price
d) Margin Mix
e) Sales Value ( in terms of value and quantity

Range Profile
The range profile should be based on the following
GBB price assortment. The good better and best principle . Depending on the profile of the retailer outlet , the GBB split would vary. For instance in the case of an up market retailer like Lifestyle , the GBB split would probably be in the ratio of 10:20:70 whereas in the case of Haryali Kisaan Bazaar the ration would be 60:30:10. It is important to remember that the GBB split is a price assortment.
Product Assortment ; This would be based on the consumer preferences of the retailer target consumer. Decisions that need to be taken by the buyer would be styles in the case of lifestyle, tastes in the case of food and features and needs in the case of home products
Customer Appeal : While developing the range plan, the buyer would also need to address customer appeal of the products in terms of socio economic , age, gender etc.



Will take up the other elements in following days