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Essay Available:
Pages:
3 pages/≈825 words
Sources:
1 Source
Style:
APA
Subject:
Mathematics & Economics
Type:
Case Study
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 12.96
Topic:

Tip Top Tailors' Brands, Suppliers, and Product Differentiation from Competitors

Case Study Instructions:

Tip Top Tailors Case (15% value)
This case was developed for an advanced buying course and describes an actual decision faced by a key manager leading the merchandising division for a fashion retailer. It has the following learning objectives:
1. Interpret research to identify opportunities in the men’s apparel market in Canada.
2. Illustrate the organizational structure of the merchandising division for a fashion retailer and its key responsibilities to ensure success for the company.
3. Identify the key elements of planning for a negotiation such as target cost price, initial markup goal and the optimal retail price for customers.
4. Demonstrate the accurate use of formulae applied to sales, costing of merchandise and markup planning.
5. Examine the criteria other than cost price that must be considered in the fashion industry when purchasing from suppliers.
6. Apply negotiation strategies for the best possible outcome in terms of gross margin while maintaining strong supplier relationships.
7. Develop numeracy, analytical, communication and critical thinking skills.
Answer the following questions using only information from the case and concepts from the course content.
1. What should the ratio of jackets to pants be for the Bellissimo suit separates program? How did you determine the ratio? Justify your decision with 2 or more reasons.
2. Which supplier provides the best outcome? Why? Provide at least 3 or more reasons.
3. Which product upgrades would you choose for jackets and pants? Why?
Provide at least 1 reason for each upgrade chosen. Ensure you include why the upgrade would be appealing to the customer. What is the final cost price of a jacket and pant including the upgrades? Show all calculations.
4. What should the retail price be for a jacket and a pant in the Bellissimo suit separates program? Explain your retail pricing.
5. What is your initial markup percentage for the jacket and pant? Did your choices result in a 75% initial markup? If not, explain why your plan should be approved.
Show all calculations.

Case Study Sample Content Preview:

Tip Top Tailors Case
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Tip Top Tailors Case
Question 1
As presented in the case, Bellissimo was one of the private label brands from Tip Top Tailors. The brand included products, such as suits, shirts, and other accessories such as ties, belts, and socks. Due to the change in fashion trends, the demand for alternative styles was rising. Many customers were purchasing more pants compared to jackets, which mandated a change in the ratio of jackets to pants. There were other dress pants programs that were launched in order to address the emerging demands and Tip Top Tailors. The major concern was the potential impact on the suits separates programs on the revenue of the stores. Considering that the number of pants purchased was 1.5 times more than the jackets purchased, it is important to have a ratio that will guarantee profitability. Therefore, the ratio of jackets to pants should be 2:5. This will ensure that all units produced are purchased and there are no losses incurred by the company. The ratio was arrived because the number of pants purchased was 1.5 times more than that of jackets (Cappuccitti & Kachra, 2020). Moreover, it was important to produce an appropriate number of jackets that was suitable for the demand in the market.
Question 2
Based on the information presented in the case, there were tow main suppliers that would be considered, Modern Man and Superior. From the two, Superior was the most appropriate supplier and would guarantee the best outcome for the company. This is because the company had an established portfolio with more than 20 reputable designer brands, which was relied upon by major department and specialty stores. In this regard, having a close relationship with this established supplier would guarantee positive outcomes for Tip Top Tailors. Another reason why the supplier was more appropriate was because of their facilities and their unique use of enterprise resource planning (ERP). Through this strategy, Superior can fulfill the order within short time limits and guarantee a consistent supply of the desired product. The final reason that makes Superior the most appropriate supplier is that it can develop private labels (Cappuccitti & Kachra, 2020). Although the process would require more time and dedication of resources, it would guarantee...
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