Asked by Hazeline Sutana on May 30, 2024
Verified
What is category management and when is it used?
Category Management
A retail and supply chain management strategy where products are grouped and managed as strategic business units, allowing for more focused merchandising and marketing efforts.
- Examine the composition of the retail mix and its application in strategy.
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ZK
Zybrea KnightJun 03, 2024
Final Answer :
Category management is used to manage the assortment of merchandise that is available from the many manufacturers that might be interested in having a product available in the store. This approach assigns a manager with the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category.
Learning Objectives
- Examine the composition of the retail mix and its application in strategy.