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Congratulations, you have just opened your very own fashion retail store and have been given the task of developing the retail merchandise management plan for the upcoming fall/winter season. To get started, you will develop a merchandise strategy for your store:
Provide an overview of your business and discuss your retail format and retail position/image.
Develop a customer profile for your store’s target market addressing the age, income, and lifestyle of your target customers.
Identify six merchandise categories (e.g., juniors’ outwear) that you believe your target customers are likely to buy from your store in the
upcoming fall/winter season. Explain your choice.
Address the pricing strategy you plan to use. Provide a price range for the six merchandise categories you plan to offer in your store (e.g.,
juniors’ outwear, $39.99–$119.99). Explain how your pricing strategy will be supported by your retail format and retail position/image.
Discuss marketing strategies you plan to implement to promote the merchandise categories offered by your business.
All your answers should be written in paragraph form, using complete and concise sentences. Answers to all questions should be at least 10–12 sentences in length. Your strategy should be three pages in length.