Category Tactics
______ is when a retailer displays high profit items with low profit destination items to drive incremental sales and profit
Cross Merchandising
Which 3 perspectives will give you the winning formula in category management
Which of the following data sources is a good alternative to use in the absence of syndicated market data?
Consumer Panel, Vendor Shipment, Industry Studies
Categories assigned what role would most likely have limited variety with one major brands and key items being carried
Convenience
True or False? Development in online sales has a direct impact on a Retailer's tactics?
TRUE
retailer/vendor process of managing categories as strategic business units producing enhanced business results by focusing on delivering consumer value (price, product, promo, place)
Category Management
True or False? In order to take a basic category management approach, you require in-depth data for consumer, market and retailer?
FALSE - you can use alternative sources
Which of the following elements is generally NOT included in the implementation plan? owner, labor cost, target date or overall strategy
Labor cost
Displays, temporary price reductions (TPR's) and promoted pricing affects _____
Incremental Volume
Who owns the overall category management process
Retailer
What data sources are required to do an advanced category management approach?
Consumer/Shopper Data, Retailer Scanned Data, In-store Observation Data, Market Data
Which department within the retailer can have a significant influence over implementation of the category plan at store level?
Retail Operations
A measure that is weighted by product units sold while on discount and product units sold when no discount was present is called
Average Price
Puts the checks and balances to ensure that targets are achievable
Category Scorecard
True or False? A Fair Share Index greater than 100 indicates that a brand or segment is getting too much support in a specific tactic and needs to be reduced.
FALSE. Brands or segments that the retailer wants to be most developed in should have higher FSI's
True or False? Retail category plans should be developed by the vendor and then implemented by the retailer.
False
At what product level is average unit price (both regular and feature) MOST effective
Item Level
Areas of opportunity for the retailer (retailer vs market insights)
Category Assessment
Price Index
True or False? Links to a market / category assessment is required in a strong category plan?
False - links to category goals/objectives, links to the retailer's strategy and links to each of the category tactics are required