In simplistic terms the OTB is calculated by subtracting the merchandise available from the the merchandise needed. The merchandise available comprises of inventory on hand and the merchandise on order. While the merchandise needed consist of planned sales, end of month inventory and planned stock. If a Zara buyer has OTB it means that his or her merchandise need is greater than his or her merchandise available. If it is the reverse, whereby the buyer has overbought and therefore has more merchandise available then it needs the Zara buyer ...
... middle of paper ...
...le to make yourself more effective and efficient in the organization.
In sum understand the OTB has taught me that a Zara buyer can be more successful if they utilize the plan well, because there is an opportunity to increase the profit levels. Therefore, as an aspiring buyer for fast fashion this has taught me that the OTB is an extremely resourceful tool in optimizing and controlling inventory which in turn leads to my performance as a buyer as well as overall company performance. Which in turn may lead to a faster career track within a company. Having the OTB tool available will help you to avoid buying too much of a product. But even if you make a mistake the buyer has six different ways in which it can attempt to increase the OTB. A buyer however must not forget to keep some OTB dollars. All in all, I believe that learning about the OTB is extremely valuable.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- “The satisfaction may require a “total” product offering that is really a combination of excellent service, a physical good with the right features, useful instructions, a convenient package, a trustworthy warranty, and perhaps even a familiar name that has satisfied the consumer in the past.” (Perreault 199). As a company, we have decided that included in our product plan we would have a total product making sure we took everything into consideration. In order to have a total product, we must include all of the following: branding, packaging, warranty and product class.... [tags: Marketing, Sales, Retailing]
1910 words (5.5 pages)
- 1.0 Introduction and Background 1.1 Overview of Online Retail Industry in the 21st Century The wake of the internet has revolutionized the retail industry a great deal in the 21st Century. The selling of retail products has moved from retail shopping experience to home-delivery services. The internet has therefore shifted the shoppers experience to a whole new level of home purchase by the click of a button. This online retail concept has its pros and cons as well. The ultimate advantage is that the retail stores are receiving a global presence thus cutting off the national or international boundaries thus having a global print at the click of a button (Krafft & Mantrala, 2006).... [tags: internet, retail products, online shopping ]
3006 words (8.6 pages)
- INTRODUCTION Following our goals we maintain a high level of motivated to keep striving and moving forward, once a local lemonade stand now has manifested into something I think could have very great potential. Planning to expand to every local grocery market; making A Simply Better Lemonade nationally known. In this section, provide a brief introduction to your lemonade stand to provide a potential investor with necessary background material. Your introduction should indicate your subject or purpose and why it is important.... [tags: Marketing, Price, Sales, Pricing]
887 words (2.5 pages)
- Marketing Plan for a Cosmetics Company EXECUTIVE SUMMARY. CosmoCosmetics. 1389 Sunshine Ave. Fort Lauderdale , Fl 34587 CosmoCosmetics has decided to create a new foundation make up line for African American women exclusively. We believe there is a niche for this type of business since no make up brands specialise in this target. CosmoCOsmetics would be the exclusive manufacturer that sells to cosmetic retailers. Not only would emphasise on the variety of colours but also the packaging of the product.... [tags: Business Marketing Finance Essays]
6035 words (17.2 pages)
- A. Place. Place is referred to when an organization gets the right product to the right place in the right quantity, at the right time. Place is about marketing channels and distribution, and is just as important is business to business market and business to consumer market (Richardson & Gosnay, 2010). Companies are trying to achieve the best the best results to sell their products. About one fifth of the cost of a product goes on getting it to the customer. Place is concerned with various methods of transporting and storing goods, and then making them available for the customer.... [tags: Marketing, Sales, Retailing, Marketing plan]
1429 words (4.1 pages)
- V. Marketing Since our product offers a service not available before and is value creating for the costumer, we will choose the adaptive entry strategy. We have to take specific measures in order to deliver this product to the right group of costumers at not only the right price, but at the right place and time. Adding to that, it is momentous to satisfy the user by delivering the value we as a company proposed to the consumer. Furthermore, the promotion of our product has to be one of the top priorities, as patenting our product is nearly impossible, competitors will be quick to imitate our product with a similar technology.... [tags: Marketing, Competition, Target market]
1002 words (2.9 pages)
- AN IDEA FOR AN ADVERTISING CAMPAIGN AND THEIR EXPLANATION In today's very competitive marketplace a strategy that insures a consistent approach to offering a product or service in a way that will outsell the competition is critical. However, in concert with defining the marketing strategy it must also has a well defined methodology for the day to day process of implementing it. It is of little value to have a strategy if you lack either the resources or the expertise to implement it. In the process of creating a marketing strategy it must consider many factors.... [tags: Marketing]
1285 words (3.7 pages)
- 1. Introduction Our founder from Seattle was inspired by Hong Kong’s entrepreneurial spirit. He set out to make Pacific Coffee a community hub known for its informality and friendly attitude. Since the opening of its first coffeehouse in 1992, Pacific Coffee has provided world-class coffee to satisfy Hong Kong's growing demand for specialty coffee beverages, and served as a urban oasis for customers wishing to have a moment of peace in their busy, hectic life. 2. Existing Business Portfolio In addition to world-class coffee, great food and comfortable surroundings, Pacific Coffee also strives to bring our customers the ultimate communication services.... [tags: Marketing Essays]
1192 words (3.4 pages)
- Marketing Plan for Bio-Mag Bracelets EXECUTIVE SUMMARY The purpose of this analytical report is to provide a marketing plan for Bio-Life Ltd new product, Bio-Mag Bracelet on its magnetic therapy purposes. As health issues are popular concerns of people in Australia and overseas market, it is necessary for Bio-Life Ltd to get into this market as soon as possible. This marketing plan is to review the company’s marketing arrangement for the new product but to also recommend strategic responses to assist Bio-Life Ltd in developing a sustainable operating system.... [tags: Business Marketing Retail Consumerism Essays]
4902 words (14 pages)
- Procedure The author, in order to complete the report studied several texts with regards to marketing and consumer ethics. The author also researched many useful websites with regards to Sainsbury's. The information studied can be found in the bibliography section found at the closing part the report. According to Jobber et al (1998) the marketing mix is ` the tactical `toolkit' of product, place/distribution, promotion and price that an organisation can control in order to facilitate satisfying exchange'.... [tags: Marketing]
1244 words (3.6 pages)