Understand shoppers, make fact-based decisions, and be more strategic in meeting your goals.
Resources are being cut while the complexity of data and technology increases, requiring us to do more with less.
Specifically, Manufacturers need to build solid strategies for their brands, create unique Shopper experiences, develop successful innovation and compelling assortments, planogram effectively, and efficiently price and promote their products.
Many don’t realize that these goals are all part of the category management approach.
Practicing category management presents a huge opportunity for Manufacturers in industries and geographies that don’t officially practice category management AND for Manufacturers who tend to brush off the importance and value of category management when they see Retailers not utilizing it.
But beware of changes ahead.
As industries change and evolve, the performance gap between the category management and non-category management practicing organizations will widen.
Right now, successful category management encompasses a much broader set of capabilities than in the past—going far beyond just an 8-step Retailer process. Today’s category management incorporates: