Want to Know the Approach Adopted by Top Companies to Create Effective Category Plans? Download SpendEdge’s Free Resource N...
23 Mai 2019 - 05:39PM
Business Wire
SpendEdge, a leading provider of procurement market intelligence
solutions, has announced the completion of their free downloadable
article on the approach adopted by companies to create winning
category plans. The article offers a comprehensive
overview of how category planning help companies to drive sales of
a specific group of products within stores and gain a competitive
edge in the retail market. The free resource also highlights
challenges faced by category managers and offers an effective
three-step approach to create a potent category plan.
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the full release here:
https://www.businesswire.com/news/home/20190523005554/en/
Steps to Create an Effective Category
Plan. (Graphic: Business Wire)
With the changing consumer behavior, the need for an effective
category plan has increased tremendously. The traditional 8-step
category management process focusing on categories is proving
inefficient and companies need a strategy that can respond to a
more complex environment. Download this free article to know the
approach adopted by top companies to create a winning category
plan.
Developing an effective category plan is imperative for
companies to drive category growth. Request a free demo
to know how our experts can help you with accurate market
insights.
Steps to Create an Effective Category
Plan
Step 1: Conduct Category
Assessment
Companies need to start with a category assessment to develop an
effective category plan. This requires them to collect data through
various sources and standard templates. The assessment conducted
helps companies to conduct a SWOT analysis and identify gap
opportunities.
To know how companies can create an effective category
plan, download the complete article here.
Step 2: Create a Category Plan with
Insights
After conducting category assessment, businesses need to develop
a plan that can address key areas of category management involving
category strategies, gaps and opportunities, category goals and
private labels, and targets. The plan developed should include
product assortment, placement, promotion, and pricing.
Determining pricing of products is crucial for companies.
Request a free proposal to access our service portfolio
of category management solutions.
Step 3: Develop a Strategic
Implementation Plan
Once the category plan is developed, companies need to engage
with all cross-functional teams and communicate the plan to them.
They also need to analyze the effects it will have on stores,
costs, and profit margins of the company.
Get in touch with our analysts to gain a comprehensive
overview of benefits leveraged by top companies through effective
category planning.
About SpendEdge:
SpendEdge shares your passion for driving sourcing and
procurement excellence. We are the preferred procurement market
intelligence partner for 120+ Fortune 500 firms and other leading
companies across numerous industries. Our strength lies in
delivering robust, real-time procurement market intelligence
reports and solutions.
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version on businesswire.com: https://www.businesswire.com/news/home/20190523005554/en/
SpendEdgeAnirban ChoudhuryMarketing ManagerUS: +1 630 984
7340UK: +44 148 459 9299https://www.spendedge.com/contact-us