HW#2 – Comparison Shopping & Country PESTS Infographic

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HW#2 – Comparison Shopping & Country PESTS Infographic

75 Points

 

OVERVIEW:

As a product developer, there are 2 keys points to successful product lines – know your customer (target market) and know your competition.  In developing your design concept for your course project, you have already identified in HW#1 who your target customer should be.  Next you need to research your competition.  Not only can you better understand their product quality and price point (Part I) to make sure that your product is competitive but you can also learn about their sourcing strategy (you’ll cover this in Part II).

PART 1 – COMPARISON SHOPPING – 40 pts.

RESEARCH:

In order to complete this portion of the assignment, you will access online a mid-tier or better/contemporary  retail site/store  that carries national brands (wholesale brands) and find 5 similar garments that reflect your 2 style modification ideas submitted for HW#1.  Macys.com & other mid-tier specialty stores are good places to find comparison garments.  Do not look for comparisons at direst to retail  sites like Zara, Target.com, the Gap.com, HM.com, etc.  Make sure you select national brand merchandise brands when making your garment selections.  Many department stores have their own private label products and they are usually value-priced for the customer and these garments would not be good comparison choices.

When researching your comparison garments, the fabric and silhouette should match as closely as possible to your two garment silhouettes developed for HW#1.

For example, if your item is a cotton twill long sleeve jacket, you must find 5 garments and preferably 5 different brands that are cotton twill (or a similar fabric) long sleeve jackets.

Based on the target retail price you indicated in HW#1, please find garments that are within a 20% +/- price range as these would be strong comparisons. A $100 at retail for your garment, try to find garments that are $80-$120.

REPORT:

Using the HW#2 Comparison Shopping template, you will create a WIP chart with the following information:

Worksheet1 : The inspiration image

Worksheet 2: The approved modification sketch

Worksheet 3:

Brand Name

Style number or SKU number as listed online

Digital image

List a detailed description including style details, trims, seam finishes

List fabric type & fiber content

List country of origin – a few retailers are being more transparent about where they are producing their garments on their websites but most retailers just state “Imported” unless the garment is made in the USA.  However, there is a way to find out where your brand might have produced their garment through Panjiva which is a FIDM library online resource.  A demonstration link is attached below.

List care instructions – make sure to include drying instructions too – if it is not listed online, state what you think would be a reasonable care for the garment.

List original retail price (not sale price or promotional price). All garments should be within a 20% +/- range

Estimated wholesale price – please multiply the retail price by .475 to get this amount. This would provide a 52.5% m.u. for the retailer.

Estimated total cost – this is how much it would cost the manufacturer to produce the garment including all fabric, trim, labor, etc. Multiply the estimated wholesale price by .40. This would give the manufacturer a 60% m.u.

 

PART II – COUNTRY PESTS Infographic – 35 pts

RESEARCH:

Based on the above research, determine  a  possible country of origin where your style might be   Shop your own closet for  a similar type of garments and see where it was made.

Locate an articles about  sourcing in the chosen country as well as research other websites or comparable resources that provide information about sourcing in the country (minimum 3-4 total resources).  Use the library database and be sure that it’s a reputable well known source. Sourcing Journal , in the library data base, WWD, California Apparel News, WGSN, are all good sources of information.

Make sure that the information is current  from at least this year or one year ago only– articles are no more than 6 months old and additional information from websites is up-to-date (using old statistics will impact the accuracy of your content).

Using the article and the research, you will develop a PESTS analysis (political, economic, social, technological, sustainability factors) for the chosen country. Refer to pages 98-100 in your textbook for information on the types of content PESTS analysis should cover. Be sure the information is apparel production oriented. Consider  labor rate per year per capita, etc.

REPORT:

Develop a PESTS analysis for their country of origin.  You can use an infographic  maker like The format of the analysis should be in an infographic format (see attached on how to develop an infographic).  In-text cites should be used to support the content of each factor to ensure that the information is fact-based.  A minimum of 4 factors should be included for each PESTS component.  The student should also include their opinion of each PESTS component – are the factors for each component advantages or disadvantages to doing business in the country and why.  Please include a works cited that includes a minimum of 3  articles and/or additional resources such as websites or comparable resources.  Additional resources are attached.

Please post both your completed template & the country PESTS infographic ( can be a PDF or other graphic file)  in Canvas Assignment #2

Please post both your completed template & the country PESTS infographic in Canvas Assignment #2

HW#2 Comparison Shopping and Country PESTS Analysis.docx预览文档

HW#2 – Comparison Shopping Template.xlsx预览文档

 

How to create an infographic (链接到外部网站。)

Infographic creator (链接到外部网站。)

How to Cite Your Sources.pdf预览文档

Plagiarism.pdf预览文档

Research resources:

FIDM library data base: EBSCO, Sourcing Journal, WWD, WGSN

https://wwd.com/ (链接到外部网站。)

https://www.wto.org (链接到外部网站。)

https://www.worldbank.org/ (链接到外部网站。)

(链接到外部网站。)https://www.cia.gov/library/publications/the-world-factbook/ (链接到外部网站。)

https://www.un.org/en/ (链接到外部网站。)

http://www.intracen.org/ (链接到外部网站。)

https://www.census.gov/