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category management
Category management is a development of the brand management approach to product development, and was developed to take account of the growing power of some retailers. Retail products are broken into like groupings called Categories. These groupings are then managed as business units and will go through business reviews on an ongoing basis to determine growth, profitability, trends and future opportunities. The discipline of brand management was started at Procter & Gamble PLC as a result of a famous memo by Neil H. McElroy. ...
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A product manager may now focus almost as much on retailer needs as on consumer needs. In the category management approach the manager oversees products and activities across the whole category which is of interest to the retailer, aiming to optimize the retailer's profits as well as those of the producer. This article or section does not cite its references or sources. ...
Background Category Management became a key factor in the development of retail sales in the 1980s, and enjoyed dramatic growth through the 1990s with the implementation nation-wide databases of computerized sales data. Category Management has continued to evolve and is now broken into Retail and Vendor/Manufacturer perspectives. Retailers look at how categories contribute to the whole store and Vendor/Manufacturers look at category contribution to brand. An association has formed with the mission statement ‘Advancing Professional Standards in Category Management.’ Early in 2003 an informal newsletter began circulating as an anonymous discussion group exchanging ideas and advice. An interview with Progressive Grocer article prompted the formation of a formal organization November 2004. Since that time, the association has blossomed by simple word-of-mouth into a member-driven resource for sharing information and advice. The Resource Directories continue to expand by category and channel. Each of these directories has a matching Discussion Group, some of which are very active and some of which sit empty until someone starts a thread. International Chapters have been added by request, along with university resources, professional coursework listings, new discussion group areas, and a new 'Virtual Convention Center' to allow members to hold small meetings as well as large webcasts. The association seeks to serve the needs of its members and guests, creating 'buckets' for information to be amassed, and creating a 'place' for interaction among peers. www.cpgcatnet.org The 1980s refers to the years from 1980 to 1989. ...
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A drawing of a self-service store Retailing consists of the sale of goods/merchandise for personal or household consumption either from a fixed location such as a department store or kiosk, or away from a fixed location and related subordinated services (Definition of the WTO (last page). ...
A vendor is one who sells something. ...
Manufacturing is the transformation of raw materials into finished goods for sale, or intermediate processes involving the production or finishing of semi-manufactures. ...
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Mark blatant advertising for speedy deletion, using {{db-spam}}. | Category Management is a science that requires art for execution of the strategy. In today’s world as much as we like the numbers and that everything works with a value, we also want our categories and stores to look good. It is through the combination of both science and art that we are able to meet the total needs of retail executable Category Management. Integration of both Merchandising and Category Management lead to higher rates of compliance and execution as well as faster 'speed to market' of new items. Driven by authors from the Harvard Business School (Kracklauer/Mills/Seifert), Collaborative CRM seems to be the new paradigma to succeed the leading Efficient Consumer Response and Category Management concept in the industry/trade relationship. Many organizations are searching for new ways to achieve and retain a competitive advantage via customer intimacy and CRM. In this context, new strategic frameworks and cooperation with everybody along the whole value chain are needed to allow managers to deal with the changes in shopping patterns of consumers. New management concepts such as Collaborative Forecasting and Replenishment, CRM, and Mass Customization are integrated into one holistic approach with a view to jointly develop customer bonding and loyalty. Image File history File links Emblem-important. ...
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In economics, a business is a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services to consumers, usually in an effort to generate profit. ...
========================================================= Category Management is an evaluation process generally entered into through a collaborative business partnership between suppliers and retailers utilizing business intelligence and marketing strategy to analyze consumers and products and the way they interact for the purpose of delivering enhanced business results to both collaborators by focusing solely on delivering consumer value.
Products such as Consumer Packaged Goods are segmented into groups of similar products called categories and further subdivided based on other characteristics and nuances that make a particular group of products similar or related. Once defined, these categories become Strategic Business Units (SBUs) and are managed as independent departments within a retail store. Categories are analyzed based on their contribution(s) to the store’s (or chain’s) image, strategy, positioning or other marketing strategy. Each separate category is subject to an ongoing review and evaluation process in a predetermined cycle to determine profitability, trends, opportunities, how the category may have evolved or grown less popular among consumers and the relationship of these characteristics to other categories that combine to determine total store strategy.
Consumers are also analyzed at various points in their purchase process to determine habits, attitudes toward specific categories or subdivisions of categories, usage and purchase trends and other buying and consuming activities that will assist those involved in the process toward tailoring a comprehensive program utilizing the key Category Management components based on the total knowledge of consumer’s shopping and purchasing habits.
There are several separate steps in the Category Management process that range from the specific definition of a category by the products found therein, through the analysis process that determines how each product and category contributes to the total store operation and image, through a complete planning session to maximize each category’s profit potential culminating in a scorecarding process that helps determine the success of the various tactics employed throughout the Category Management process. Through the scorecarding process, the success of the Total Category Management Plan for the category is assessed and adjustments, corrections or enhancements may be made to the plan for improved performance during a subsequent repeat of the Category Management Process.
Throughout the Category Management Process, categories are evaluated based on five key components. Those components – known as the 5 Ps – are: Product Selection, Shelf Presentation, Retail Pricing, Product Promotions and Product Procurement.
Although the specific goals and objectives of the Category Management Process may vary from category to category or from retailer to retailer or even from store type to store type (for example, a grocery store as opposed to a hardware store as opposed to an office supply outlet, etc.), in general the goals, objectives and benefits of the Category Management Process are improved category and store productivity, reduced costs or increased store awareness that leads to increased store traffic, ultimately to increased store profit.
Category Management in one form or another has been around for many years and most successful retailers have employed some of the steps in the process over time whether they knew it as Category Management or “gut feel”, but only recently has the Category Management Process been specifically defined and specific processes created to arrive at clear goals and objectives for retailers for their total store integration.
Retail, wholesale, manufacturing and consulting companies have also created various category management principles throughout the years but in general, Category Management has been said to be pioneered by Dr. Brian Harris, founder and co-chairman of The Partnering Group of Cincinnati, OH USA around 1989. Dr. Harris is also credited with developing Computerized Space Management, a computer-based process that addresses the Shelf Presentation component of the total Category Management Process.
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