Question

What are the different components that need to be included in the category plan step of the category management process?

Answer 1

The category plan step of the category management process involves conducting market analysis, assortment planning, pricing strategy, promotion and marketing, and merchandising.

Step-by-step explanation:

In the category plan step of the category management process, there are several components that should be included:

1. Market Analysis: This involves conducting research and analyzing market trends, customer preferences, and competitor activity.
2. Assortment Planning: This involves determining the range and variety of products that should be included in the category.
3. Pricing Strategy: This involves setting appropriate price points for the products in the category.
4. Promotion and Marketing: This involves developing strategies and tactics to promote and advertise the category to attract customers.
5. Merchandising: This involves planning how the products will be displayed and organized within the category to maximize sales.