The goal of this matrix is to identify where products fall in the quadrant and buy or discontinue accordingly. The four categories are as follows:
- Stars: These are high-dollar, high-volume products.
- Cash Cows: These are low-dollar, high-volume products (think milk, bread, eggs, and other staples).
- Question Marks (or Problem Children): These are products that might be dogs, but you don’t know yet.
- Dogs: Dogs may be convenience items that are kept in low quantities, or they may be items that should be discontinued.
For Assignment 2: Course content
All of these things factor into your sales. Is your brand known for red lips? If red is the “it” color, this could be a big year. Did all the models walk down the runway with a natural, no makeup look? If so, this could be a stellar year for Bobbi Brown makeup.
In 2015, nail art and nails in general had a breakout year with huge sales growth. That trend continues. Whereas less than a decade ago, beauty supply stores were shrinking the shelf real estate devoted to nail products, those products have now made an enormous comeback.
Fueled largely by ’80s nostalgia made popular by millennials, nails are a fun and inexpensive way to be a little outlandish, even for a career woman.
Please read these articles below about nail polish trends and growth:
Nail-care Category Is on the Rise
Answer 1: Fashion week is based all around the world to showcase designers’ new collections and introduce new fashion trends and events. As for the beauty editors, they have a big role behind the scenes as they are in charge of the model’s hair and makeup. Their experience is jammed packed with events such as early call times, late hours, early hours, etc. It’s a face-paced job as there are shows back to back. They get to work with the hair and makeup directors and all the talented artists working on these models and overseas their job. They may be in charge of social media content such as creating lives or taking pictures of the show. They wear many masks during fashion week.
The way that I would set an OTB on color for inventory would be to assess best sellers and worst sellers to understand what needs to be ordered and addressed. Then related specifically to the color we would plan what colors are needed in inventory to create the most profit. The products I would keep focused on inventory would be the most popular products which would be considered the cash cows in the growth-share matrix since they are low cash usage but high cash generation. Plus they are the product that usually sells the most and customers would want the staple products in stock. But if we had to run out of a product in inventory it would be either something that never has a high growth rate or the more statement products which would be identified on the growth-share matrix as the dogs and stars.
Answer 2: Fashion week has so much going on especially with the models being prepared to walk on the runway and making sure everything is done on time and well. Julie Schott says that coffee is key. Julie looks forward for Alexander Wang’s after parter. Alicia Cesaro says that seeing the models, nail technicians, makeup artists, and hair stylists rushing around is their fav organized chaos. Before events they will be sneaking in quick cocktails with other coveteur editors. They enjoy all red during that time. They learn new things backstage that can be shared if they think followers will enjoy the content. if they see a Caleb backstage or at a after party they will give a quick shout out. During fashion week it can be chaotic and tiresome because of the less sleep due to all the things they have to get done. I would focus on keeping the products that are selling well and products that customers want to have access to. If I had to run out of inventory on something it would be from a product that uses materials from somewhere that is low on stock or from a new item that was expected to sell so much.