What is product assortment in marketing?
Product assortment refers to the variety of products that a retailer presents to the consumer.
What is category management marketing?
“Category Management” is the process of pooling similar products into a singular category and then addressing all business initiatives for that category as a whole. These initiatives can include the procurement process, merchandising, sales and other retail efforts.
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.
What is category assortment?
Assortment planning is the process to determine what and how much should be carried in a merchandise category. Assortment plan is a trade-off between the breadth and depth of products that a retailer wishes to carry. Assortment affects costs because it drives inventory decisions.
What are the components of category management?
The category management 8-step process (retail)
- Define the category (i.e. what products are included/excluded).
- Define the role of the category within the retailer.
- Assess the current performance.
- Set objectives and targets for the category.
- Devise an overall Strategy.
- Devise specific tactics.
What is category management in CPG?
Category Management is the primary platform from which CPG brand owners interact with retailers. Category Management provides the language, process framework, and metrics for communicating all strategic and tactical recommendations to the retailer.
Does category management come under marketing?
Under this stage of category management business process, retailers develop marketing and product supply strategies that determine the category role and performance objectives.
What is an example of assortment?
The definition of assortment is the act of categorizing. An example of assortment is the filing of papers into categorized folders. Assortment is defined as a group of things that vary in type. An example of an assortment is a box of chocolates with varying flavors and kinds.
What is product category management?
Product category management is the act of managing all of the stock-keeping units (SKUs) in a particular product category and organizing their price, appearance on store shelves and promotional strategies while meeting the goals of the store and the needs of customers.
What is category management example?
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.