Branding

November 12, 2011 |
Fortune Magazine says…In the 21st century, branding ultimately will be the only unique differentiator between companies. Brand equity is now a key asset.

 

Category Management is a process that involves managing product categories as business units and customizing them (on a store by store basis) to satisfy customer needs. Nielsen

 

Category management does more than contribute to the success of a retail organization. It is an essential component.

 

In fact, it’s difficult to imagine a retailer winning in the marketplace without relying on the direction that this valuable process provides.

 

Expertise in Category Management is certainly a competitive advantage.

 

Some Category Management Benefits: (Source: AMR Research)
· Better In-Stock Rates: 2 – 8%
· Lower Inventory Levels: 10 – 40%
· Higher Sales: 5 – 20%
· Lower Logistics Costs: 3 – 4%
Retail Trends Driving Category Management Practice:
· Changes in Customer Behaviour
· Economic Environment
· Higher Efficiency Requirements

· Strong Competition

Category: Blog

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