what merchandising requirements may be included in a media plan
Planning is essential to provide direction and serve as a basis of control for any merchandise department. In order to be able to provide the right goods to the consumer at the right place and time, one needs to plan a course of action.
Planning in merchandising is at two levels:
1) The creation of the Merchandise Budget, and
2) The Assortment Plan
There are two methods of developing a merchandise plan. They are top down planning and bottom up planning. In top down planning, the top management works on the sales plan and this is passed down to the merchandising team. On the other hand, in bottom up planning, individual department managers work on the estimated sales projections. These are then added up to arrive at the total sales figures.