ARTD2106 Product Management Assignment

BA Hons: Fashion Marketing & Management - University of Southampton, UK

AIM OF MODULE - In the Product management module, we will challenge you to use your creative and commercial critical thinking skills to identify market trends and opportunities. We will analyse how a business can respond to emerging opportunities in the development off product from concept to consumer. We will ask you to look at the future, to develop your strategic thinking linked to the management of product and delivery of long term sustainable business strategies for brands, specifically with the development of innovations. This will then encapsulate not only consumer trends but also how buying, merchandising and product development impact on brands as they evolve and seize opportunities for commercial growth.

The aim of this module is to build upon your introductory knowledge and skills acquired during Year 1 in Business analysis to enable you to examine the retail environment in more detail from the perspective of fashion Buying and Merchandising. You will develop knowledge and understanding of the key Buying and Merchandising (B&M) skills involved in developing a product range from Trend Analysis, Product Development, Supply Strategies & Range Planning. This module is designed to simulate commercial roles in retail and develop advanced trend and product analysis skills.

THE BRIEF - SUSTAINABLE FUTURES

Developing on your knowledge and content from your MEGA TREND proposed in the Trend Module, you will assume the role of a retail buyer and propose an exciting innovative new product concept for one of the H&M retailers for a launch in SS20 or AW20 that makes for a sustainable future.

Firstly, you will develop a clear and concise research base of one of the brands, considering their current company strategy, product ranges, & consumer needs. You will focus on a key section of the market, considering innovations and trends in branding, fashion product, fabrics, shape and colour to decide on their future growth strategy. This will form the basis of your assessment as a presentation in Week 10.

From your idea proposed, you will go on to develop a focused and relevant Buying and Merchandise strategy for a defined target market with supporting critical analysis of your ideas. The output will be a written & illustrated Buying and Merchandising Report together with a Product Range Plan created with both commercial and theoretical consideration.

The assessment outputs will demonstrate your understanding of the full fashion cycle from concept to consumer whilst considering wider con-textual topics such as sustainability issues.

Part 1 - Range Review

10 minute individual oral presentation (30%) with supporting A4 slides (12 slides max)

SUSTAINABLE VISION - The H&M group have a vision to "lead the way towards a circular and renewable fashion industry, being both fair and ethical". Your presentation will be the result of your analysis of one chosen fashion brand below from the H&M group, including detailed primary and secondary research, a store visit and competitive shop focused towards the product offer, choice, quality and positioning. Ultimately deciding on new innovations and opportunities to lead the brand forwards in their mission.

Your presentation should include the following sections

1. A review of the relevant macro market dynamics affecting the brand and impacting trend drivers e.g. sustainability, ethical and cultural issues.

2. Brand analysis with consumer & competitive review.

3. An analysis of the product range considering positioning & competition, retail price, fabrics and country of origin, product range.

4. Opportunities and proposal for new seasons direction including growth strategies considering new innovations & fabric developments in the category. What does the brand need to do to be sustainable and what might the consumer needs be in the future?

Visualise tables and graphs to represent your findings. Use a variety of relevant marketing resources to develop a detailed review, including relevant data, news articles, and trend/innovation knowledge to develop a detailed presentation of the brand and its future direction.

This presentation must have a supporting bibliography showing the research undertaken. Primary images must be included here to show your own viewpoint too.

This will develop your knowledge of the fashion business, as well as presenting and pitching your ideas to a professional standard. It will underpin your individual ideas that you will develop for your final assignment.

PART 2 - Written Report

Your written report should include the following key sections.

The word count is given as clear indication to balance & focus your work appropriately.

1. Product Direction & Concept (600 illustrated words)

Considering your Macro Environment, brand analysis & new innovations, create a new and innovative opportunity for your retailer by introducing a new range concept e.g. a new range positioning, a collaboration, or a new sub-brand. How will it enhance the retailer? How does it address current consumer behaviour? This part should include

1. What is the innovation?

2. Brand Strategies for Growth including Theory of Growth, Branding Practices & Development.

3. Range Direction considering Product Strategies, Unique Selling and Value Propositions, Supply Strategies e.g. sustainability, Sourcing origins & quality.

4. Micro trend and fabric innovation including specific range detail of theme, shape, colour, fabric, print, (visualised).

2. Range plan (1400 words + Range Plan).

From your market research and trend analysis create a detailed product range plan outlying the key detail of your new collection This will be a combination of written work and tables. Set the buying- plan of the product range based on the retail value to include the following:

Product Mix analysis e.g. colour, print, fabric type

Country of Origin Mix

Retail price strategies & justification

Stock & Location & justification

Forecast Stock Strategies SS20/AW20

Range plan (max 15 skus/Stock Keeping Unit.

Note - Need PPT (1100 word), Presentation 10 pages and part 2 Essay 2000 words.

Attachment:- Product Management Assignment File.rar