What is Category Management in simple words?
Category management is a retailing and purchasing concept in which the range of products purchased by a business organization or sold by a retailer is broken down into discrete groups of similar or related products; these groups are known as product categories (examples of grocery categories might be: tinned fish.
What is a good category management?
Effective Category Management encompasses a multitude of areas including but not limited to: Supplier relationship management. Supplier evaluation and appraisal. Effective communication incorporating soft skills.
What are the 4 P’s of Category Management?
The 4 P’s of category management are product, price, placement and promotion. The category manager will ensure that the right products are bought based on his analysis of the previous sales reports and current consumer trends.
How do I become a good category manager?
A category manager needs a broad range of skills to be successful: Hard analytical skills, such as the ability to analyze large swaths of data to identify trends and gaps in the market, the ability to implement a strategic plan aligned with the goals of the business, as well as soft skills to communicate and negotiate …
What skills do category managers need?
An excellent category manager must have extensive experience in understanding consumer needs and the retail environment. They must have a commercial mindset and full comprehension of marketing and sales principles. Exceptional communication skills are also key for category managers.
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