What are the total projected sales for the upcoming promotional event? What are

Question

What are the total projected sales for the upcoming promotional event?

What are the total projected markdown dollars for the event?

What is the markdown percentage for the event?

What is the maintained markup percentage for the event?

Identify another markdown strategy Jimmy could have used, and explain how its use could influence the results in the case study

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Explanation / Answer

What are the total projected sales for the upcoming promotional event?

The total projected sales for the upcoming promotional event is 483 units. (Unit sales at 30% off + Unit sales at 50% off + Unit sales at 70% off)

What are the total projected markdown dollars for the event?

The total markdown dollars for the event is $94,523 (Markdown dollars at 30% + Markdown dollars at 50% + Markdown dollars at 70%)

What is the markdown percentage for the event?

The maximum markdown percentage is 70% (as per the given write up)

What is the maintained markup percentage for the event?

Maintained Markup = 32.33%

(Maintained Markup ($) = (Original Retail - Reductions) - Cost of Goods Sold

Maintained Markup (%) = Maintained Markup($) ÷ Net Sales Amount)

Identify another markdown strategy Jimmy could have used and explain how its use could influence the results in the case study.

Jimmy could have planned the markdown activity in a better manner. Instead of just reducing the prices of the items at the end of the season, he could have kept a tab on the regular sales of the items. If the items were not meeting their targeted sales, he could have introduced a lower markdown early in the year and improved the sales. As the consumers compare the prices of products, a slightly reduced price would be lucrative for the buyer and improve customer loyalty too. Even if Jimmy decided to have the projected markdown, he would have fewer items sold at 70% off, which would improve the amount of money he earned in the sale.

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