Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one...
Transcript of Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one...
![Page 1: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/1.jpg)
share. learn. connect.
March 11-13, 2015
Merchandise SWOT The Roadmap to Success
Kathleen Schultz Principal Kathleen Schultz Marketing
![Page 2: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/2.jpg)
by nemoa
The Art of War ! “So it is said that if you know your enemies and
know yourself, you can win a hundred battles without a single loss. If you only know yourself, but not your opponent, you may win or may lose. If you know neither yourself nor your enemy, you will always endanger yourself.” › Sun Tzu, Chinese General 544-496 BC
![Page 3: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/3.jpg)
by nemoa
What is SWOT ! A SWOT analysis is a structured planning method use
to evaluate a company or division within a company › Strengths: characteristics that give an advantage › Weaknesses: characteristics that disadvantage chances for
success › Opportunities: elements that can be exploited to your
advantage › Threats: elements that cause trouble
! Identification of SWOTs is important because they can inform later steps in planning to achieve the objective
![Page 4: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/4.jpg)
by nemoa
What is Structured Planning ! Planning is the process organizing the activities
required to achieve a desired goal ! Planning involves the creation and maintenance of
a plan. It combines forecasting with the preparation of scenarios of how to react to them
! An important aspect of planning, is the relationship with forecasting. Forecasting is predicting what the future will look like, planning predicts what the future should look like
![Page 5: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/5.jpg)
by nemoa
The SWOT MATRIX Helpful
To Achieving Goals Harmful
To Achieving Goals
Inte
rnal
Attri
bute
s of
Com
pany
Strengths Weaknesses
Exte
rnal
Attri
bute
s of
Mark
etpl
ace
Opportunities Threats
![Page 6: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/6.jpg)
by nemoa
What is a Merchandise SWOT ! It is the understanding of your company’s
› Merchandise strengths › Merchandise weaknesses › Merchandise opportunities › Merchandise threats
![Page 7: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/7.jpg)
by nemoa
Why Companies don’t do a Merchandise SWOT ! SWOT analysis is only for the 10,000 foot
corporate planning team ! Never did one ! Don’t have the time ! It’s not on our planning schedule
![Page 8: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/8.jpg)
by nemoa
Why Companies don’t do a Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to do one ! It’ll take too long and be out of date when done ! SO—what’s the value of a Merchandise SWOT?
![Page 9: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/9.jpg)
by nemoa
Merchandise SWOT – Strengths ! Exclusivity ! Proprietary ! Category leader ! Loyal customer base ! Quality / Fit ! Price points
![Page 10: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/10.jpg)
by nemoa
Merchandise SWOT – Strengths ! How strong is your team ! Are you price competitive ! How many competitors do you have ! Do you measure the competitors categories, etc. ! How strong are your vendors ! Is your go-in/go-out ratio in-line
![Page 11: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/11.jpg)
by nemoa
Merchandise Strengths – Exclusivity
![Page 12: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/12.jpg)
by nemoa
Merchandise Strengths – Exclusivity
![Page 13: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/13.jpg)
by nemoa
Merchandise Strengths – Proprietary
![Page 14: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/14.jpg)
by nemoa
Merchandise Strengths – Proprietary
![Page 15: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/15.jpg)
by nemoa
Merchandise Strengths – Category Leader
![Page 16: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/16.jpg)
by nemoa
Merchandise Strengths – Category Leader
![Page 17: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/17.jpg)
by nemoa
Merchandise Strengths – Category Leader
![Page 18: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/18.jpg)
by nemoa
Merchandise Strengths – Category Leader
![Page 19: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/19.jpg)
by nemoa
Merchandise Strengths – Loyal Customer
![Page 20: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/20.jpg)
by nemoa
Merchandise Strengths – Loyal Customer
![Page 21: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/21.jpg)
by nemoa
Merchandise Strengths – Fit/Quality
![Page 22: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/22.jpg)
by nemoa
Internal Merchandise Analytics Seasonal SKU and Price Point Analysis by Category
Category Category 1 Category 2 Category 3 TOTAL SKUs
Price range 2014 2013 % Inc/ Dec 2014 2013
% Inc/ Dec 2014 2013
% Inc/ Dec 2014 2011
% Inc/ Dec
$0-‐10.00 150 159 (5.7%) 254 213 19.2% 531 521 1.9% $10.01-‐25.00 160 162 (1.2%) 183 153 19.6% 511 462 10.6% $25.01-‐40.00 177 181 (2.2%) 1 1 0.0% 254 277 (8.3%) $40.01-‐60.00 132 162 (18.5%) 2 2 0.0% 23 8 187.5% 221 251 (12.0%) $60.01-‐100.00 1 3 (66.7%) 1 1 0.0% 30 41 (26.8%) 63 74 (14.9%) $100.01-‐200.00 1 (100.0%) 1 2 (50.0%) 55 33 66.7% 67 39 71.8% $200.01-‐+ 2 1 100.0% 82 74 10.8% 89 77 15.6% Total SKUs 622 669 (7.0%) 442 372 18.8% 190 156 21.8% 1,736 1,701 2.1% % To Total SKUs 35.8% 39.3% (8.9%) 25.5% 21.9% 16.4% 10.9% 9.2% 19.3% 100.0% 100.0% 0.0% Total Retail Dollars 131,783 117,678 12.0% 10,796 7,259 48.7% 42,500 47,373 (10.3%) 650,423 664,342 (2.1%) % RETAIL DOLLARS 20.3% 17.7% 14.4% 1.7% 1.1% 51.9% 6.5% 7.1% (8.4%) 100.0% 100.0% 0.0% Gross Profit Dollars 101,892 86,816 17.4% 846 5,886 (85.6%) 30,967 32,063 (3.4%) 406,181 382,689 6.1% Avg Price Point $ 20.12 $ 19.99 0.7% $ 6.68 $ 6.59 1.4% $ 218.00 $ 216.00 0.9% $ 21.78 $ 18.00 21.0%
![Page 23: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/23.jpg)
by nemoa
External Merchandise Analytics Seasonal CompeRRve Price Point Analysis by Category
Categories Dresses Pants Sweaters Shoes
Price Range Us Comp 1 Comp 2 Us Comp 1 Comp 2 Us Comp 1 Comp 2 Us Comp 1 Comp 2 $0-‐25.00 0 1 0 2 5 0 2 0 0 0 2 0 $25.01-‐40.00 3 8 1 6 6 2 8 7 0 4 3 0 $40.01-‐60.00 5 10 7 10 5 4 8 15 7 3 3 0 $60.01-‐100.00 5 6 3 3 3 1 4 5 0 0 2 0 $100.01 -‐ 150.00 1 3 0 0 0 0 0 0 0 0 0 0 $150.01 + 0 1 0 0 0 0 0 0 0 0 0 0 Total Items 14 29 11 21 19 7 22 27 7 7 10 0 % of Total Items In Catalog 8.8% 15.6% 9.7% 13.2% 10.2% 6.2% 13.8% 14.5% 6.2% 4.4% 5.4% 0.0%
# New Items 3 8 3 4 9 1 4 15 0 4 7 0 # Exclusive Items 0 2 0 5 2 0 2 1 0 4 5 0 # Proprietary Items 5 10 0 14 5 0 7 4 0 0 0 0
![Page 24: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/24.jpg)
by nemoa
Merchandise SWOT – Weaknesses ! Is your number of proprietary/exclusive merchandise
offerings meeting your plan ! Is your number of new product offerings meeting your plan ! Are you getting the best pricing from vendors ! Are you carrying categories because “you always have” ! Are you carrying categories because “everyone loves them” ! Are your initial fill rates below your industry standards ! Do your vendors ship late or run out of stock ! Do you conduct vendor performance reviews
![Page 25: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/25.jpg)
by nemoa
Merchandise SWOT – Opportunities ! Are there line extensions in your most profitable
categories ! Are there new product categories ! Do you do any research with your customers ! Do you ask your customers for product reviews ! Can you find new/better vendors
![Page 26: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/26.jpg)
by nemoa
Merchandise SWOT – Opportunities ! Are there Good/Better/Best categories you should
be working ! Can you improve your initial fill rates ! Competitive pricing ! Do formal planning
![Page 27: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/27.jpg)
by nemoa
Merchandise SWOT – Threats ! Are some of the biggies—Amazon/Zappos—making a
big push into your category ! Are there new competitors—especially spinoffs from
large companies ! Are you understaffed with needed skills ! Consistent back order position ! High returns ! Too many / too few vendors ! Limited market size / target audience
![Page 28: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/28.jpg)
by nemoa
Merchandise Threats – Assortment
![Page 29: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/29.jpg)
by nemoa
Merchandise Threats – Assortment
![Page 30: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/30.jpg)
by nemoa
Merchandise Threats Assortment
![Page 31: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/31.jpg)
by nemoa
Merchandise Threats – Newness
![Page 32: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/32.jpg)
by nemoa
Takeaways and Action Steps ! Better understanding of your business performance ! Defines your goals and objectives ! Identifies needs / resources
› Analytical tools › Reporting tools › Product development › Staff › Vendor structure
![Page 33: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/33.jpg)
by nemoa
Takeaways and Action Steps ! Developing your battle plan for success ! Assign responsibilities / ownership
› Team building › Insures how are you going to get where you want to be
! Are you on track—conducting touch base status meetings
! Prior to merchandise turnover make sure your product assortment is in line with plan
![Page 34: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/34.jpg)
by nemoa
Mul5 – purpose sleepwear floor cleaner
It’s All About the Stuff
![Page 35: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/35.jpg)
by nemoa
It’s All About the Stuff New Shoes—How to Keep Them Dry
![Page 36: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/36.jpg)
by nemoa
It’s All About the Stuff
Protec5ng Shoes
When All the Seats are Taken
![Page 37: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/37.jpg)
by nemoa
It’s All About the Stuff One less utensil to wash
![Page 38: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/38.jpg)
by nemoa
It’s All About the Stuff
Keeping Shoes Dry
Wan5ng To Cuddle – But No One Around
![Page 39: Merchandise SWOT The Roadmap to Success...Merchandise SWOT – part 2 ! Marketing doesn’t do one so why should we ! Don’t know what competitors are doing ! Don’t know how to](https://reader030.fdocuments.net/reader030/viewer/2022040904/5e77b6020cd4a861df062467/html5/thumbnails/39.jpg)
by nemoa
If you can’t measure it You can’t manage it
If you can’t manage it You can’t improve it