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Explain the steps involved in developing a six-month merchandise budget..

Explain the steps involved in developing a six-month merchandise budget..

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Explain the steps involved in developing a six-month merchandise budget..
Exhibit 8.3 - Formulas for the Six- Month Budget Determining Planned Purchases at Retail for the Month (Planned Sales for the Month) + (Planned Retail Reductions for the Month) + (Planned EOM Stock for the Month) - (Planned BOM Stock for the Month) = (Planned Purchases at Retail for the Month) Determining Planned Purchases at Cost for the Month (Planned Purchases at Retail for the Month) × (100% Planned Initial Markup Percentage) = (Planned Purchases at Cost for the Month) Determining Planned Initial Markup for the Month (Planned Purchases at Retail for the Month) × (Planned Initial Markup Percentage) = = (Planned Initial Markup for the Month) or (Planned Purchases at Retail for the Month) - (Planned Purchases at Cost for the Month) = = (Planned Initial Markup for the Month) Determining Planned Gross Margin for the Month (Planned Initial Markup for the Month) (Planned Retail Reductions for the Month) = = (Planned Gross Margin for the Month)
Transcribed Image Text:Exhibit 8.3 - Formulas for the Six- Month Budget Determining Planned Purchases at Retail for the Month (Planned Sales for the Month) + (Planned Retail Reductions for the Month) + (Planned EOM Stock for the Month) - (Planned BOM Stock for the Month) = (Planned Purchases at Retail for the Month) Determining Planned Purchases at Cost for the Month (Planned Purchases at Retail for the Month) × (100% Planned Initial Markup Percentage) = (Planned Purchases at Cost for the Month) Determining Planned Initial Markup for the Month (Planned Purchases at Retail for the Month) × (Planned Initial Markup Percentage) = = (Planned Initial Markup for the Month) or (Planned Purchases at Retail for the Month) - (Planned Purchases at Cost for the Month) = = (Planned Initial Markup for the Month) Determining Planned Gross Margin for the Month (Planned Initial Markup for the Month) (Planned Retail Reductions for the Month) = = (Planned Gross Margin for the Month)
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