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