CPCA Updated Flashcards by Brandon Hurley

Considerations for which perspective will give you the winning formula in category management?
1. The shopper
2. The retailer
3. The vendor
4. All three

All three

How well did you know this?

Not at all

Perfectly

Which step in the category management process pertains to a retailer’s strategy?
1. Step 2: Category definition
2. Step: Goal setting
3. Step 6: Plan Implementation
4. None of the above

None of the above

How well did you know this?

Not at all

Perfectly

True or false: Maintaining item level segmentation is an ongoing process for retailers and suppliers.

How well did you know this?

Not at all

Perfectly

True or false: To win with the shopper, retailers must achieve competitive superiority on price, assortment, and customer service.

How well did you know this?

Not at all

Perfectly

The [blank] sets the stage for the category management process by asking fundemental questions about overall market dynamics, and challenging your hypothesis about your shoppers and the enviroment that influences them.
1. Omnichannel shopper decisions
2. Insights immersion
3. Omnichannel shopper mindsets
4. Current category definition

Insights immersion

How well did you know this?

Not at all

Perfectly

What are the 4 prerequisites for category management?
1. Date & Insights, Organizational Alignment, Collaborative Mindset, Vendor Agreements
2. Date & Insights, Organizational Alignment, Collaborative Mindset, Technical Tools/Automation
3. Date & Insights, Organizational Alignment, Vendor Agreements, Technical Tools/Automation

Date & Insights, Organizational Alignment, Collaborative Mindset, Technical Tools/Automation

How well did you know this?

Not at all

Perfectly

The goal is for insights, and [blank] wants and needs, to guide the decisions made throughout the category management process.
1. Retailer
2. Supplier
3. Shopper
4. Employee

Shopper

How well did you know this?

Not at all

Perfectly

True or false: Category management is not a one-time event, but an ongoing approach to business.

How well did you know this?

Not at all

Perfectly

True or false: Category definition and segmentation should be employed whether addressing brick and mortar, online or hybrid models.

How well did you know this?

Not at all

Perfectly

True or false: To dominate an item level assortment in one market, retailers need the largest and widest selection of a product category in every store that the retailer operates.

How well did you know this?

Not at all

Perfectly

The omnichannel shopper framework can be a great guide to conducting research around which item(s) in your insights library?
1. POS data
2. Brand health tracker
3. Shopper segmentation
4. Shopper journey/path to purchase

Shopper segmentation, Shopper journey/path to purchase

How well did you know this?

Not at all

Perfectly

True or false: Your insights immersion should only include in-store insights gathering.

How well did you know this?

Not at all

Perfectly

True or false: Without a category decision tree, the category cannot be segmented at an item level.

How well did you know this?

Not at all

Perfectly

Which step of the CatMan process is the most robust, and includes the 4P’s?
1. Step 1: Insights immersion
2. Step 2: Category definition
3. Step 3: Internal and external alignment
4. Step 4: Goal setting and scorecard
5. Step 5: Tactics

Step 5

How well did you know this?

Not at all

Perfectly

[blank] can increase sale significantly because the stand out compared to in-aisle placement.
1. In-store merchandising
2. Online merchandising
3. In-store displays
4. Category adjacencies

In-store displays

How well did you know this?

Not at all

Perfectly

True or false: A current category understanding is assumed upon entering the insights immersion step of the category management process.

How well did you know this?

Not at all

Perfectly

True or false: A category should have the same definition across all retailers

How well did you know this?

Not at all

Perfectly

Promotion is a tactic that relates to which of the following?
1. Service
2. Pricing
3. Assortment
4. Merchandising

Pricing and merchandising

How well did you know this?

Not at all

Perfectly

Every retailer develops an overarching strategy to establish their unique place in the mind of the [blank].
1. Shopper
2. Supplier
3. Manufacturer

Shopper

How well did you know this?

Not at all

Perfectly

Category definition impacts which of the following areas of the business?
1. Which products are included in the category.
2. How products are segmented.
3. How category tactics are determined
4. All of the above

All of the above

How well did you know this?

Not at all

Perfectly

The retailer strategy accomplishes which of the following?
1. Guides all decisions in the organization
2. Ensures united strategy in retailer’s organization
3. Aligns with category plans
4. All of the above

All of the above

How well did you know this?

Not at all

Perfectly

A shopper-centric category definition make it [blank] for shoppers to find products.
1. Difficult
2. Time-consuming
3. Easy
4. Frustrating

Easy

How well did you know this?

Not at all

Perfectly

When retailers define their approach to [blank], they determine what level of engagement they have with shopper.
1. Product assortment
2. Pricing
3. Product placement
4. Service
5. Promotion

Service

How well did you know this?

Not at all

Perfectly

What was the impetus for creating the CatMan 3.0 Model?
1. The grocery industry consolidated
2. Increased importance of eCommerce
3. Increased data availability and complexity

Increased importance of eCommerce & Increased data availability and complexity

How well did you know this?

Not at all

Perfectly

Some retailers ask key category vendors to take on a leadership role in their category management process. These category captains help provide which of the following? 1. Shopper insights 2. Expertise 3. Labor assistance 4. Unbiased recommendations 5. All of the above

All of the above

Within the CatMan 3.0 process, what step ensure the shopper's want and needs guide the decisions made throughout the CatMan process? 1. Step 1: Insights immersion 2. Step 2: Category definition 3. Step 3: Internal and external alignment 4. Step 4: Goal setting and scorecard

Step 1

True or false: A retailer's competitive set conists of all brick and mortar retailers that offer similar assortment and operate in the same geography?

Since online is free of physical constraints, categories are managed more often by which of the following? 1. Strategic unit 2. Mode of storage/display 3. Retailer preference 4. Need-state

Need state

Category definitions determine which groups of products belong together based on shopper needs. Which of the following questions is�least likely�to determine which products should be grouped together? 1. What products deliver the solution to a similar shopper need? 2. Which products are substituable in shopper usage? 3. Which product, when priced similarly, build incremental sales? 4. Which products have similarities that, when manged together, create a total store effect for the shopper?

Which product, when priced similarly, build incremental sales?

When defining their overall strategy, retailers know that to succeed in the marketplace the must win with the [blank]. 1. Vendor 2. Supplier 3. Shopper 4. Category captain

Shopper

Which of the following are common retail channels? 1. Mass 2. New 3. Natural 4. Rural 5. Grocery

Mass, Natural, Grocery

True or false: Retailers should strive to serve the needs of every shopper.

It's time to build your insights library. Select all data sets you want included. 1. A current CDT 2. Recent omnichannel journey insights, including online 3. 10 year old shopper segmentation 4. Only instore category data 5. Overall market data

A current CDT, Recent omnichannel journey insights, including online, Overall market data

Which of the following are strategies used to group products into a category? 1. Total store effect 2. Target shopper 3. Similar shopper need 4. New innovation 5. Substitutable

Total store effect, similar shopper need, substitutable

Which of the following are stages in the category management maturity curve? 1. Testing 2. Adopting 3. Practicing 4. Deploying

Testing, adopting and practicing

Which channel lends itself well to "testing and learning" about new ways to organize a category? 1. Small format 2. Brick and mortar 3. Online 4. Natural/Health and Wellness

Online

What is the manufacturer's role in assigning category roles?

Advise by providing data and shopper insights

True or False:�A single category will play the same role at every retailer and in every channel.

What are the the four category roles?

Destination, Core, Convenience, Seasonal

Which of the following traits apply to the core role? 1. Typical everyday products 2. Best variety in the market 3. Assortment mirrors competition 4. Place close to Destination categories

Typical everyday products, Assortment mirrors competition, Place close to Destination categories

Convenience categories are placed close to their related Destination or Core categories�to prompt [blank] purchases throughout the store. 1. Big 2. Easy 3. Impulse 4. Unnecessary

Impulse

True or false: Categories that are assigned different roles should be allocated a different percentage of resources by the retailer

Categories playing what role are usually allocated the lowest percentage pf resources by the retailer? 1. Core 2. Destination 3. Convenience 4. Seasonal 5. All should be allocated same percentage

Convenience

What role do manufacturers play in assigning roles? 1. Ultimately assign roles 2. Advise retailers by providing data and shopper insights 3. Not involved in the role assignment process

Advise retailers by providing data and shopper insights

Category [blank] affects traffic flow and impacts the overall business results. 1. Definition 2. Management 3. Review 4. Placement

Placement

What are the three steps a retailer takes to assign the category roles?

Assessment, allocation, assignment

True or false: Core categories should be placed where retailers want the shoppers to go.

F. Destination

Assignment of [blank] requires that retailers take a broad look across their category mix to determine the category�s relative importance. 1. Retailer strategies 2. Category strategies 3. Category roles 4. KPI's

Category roles

True or false: Destination categories may function differently in the eCommerce enviroment.

CatMan 3.0 recommends a distinction between category's role online vs. offline during [blank] step. 1. Insights immersion 2. Tactics 3. Category definition and segmentation 4. Internal & External alignment

Internal and external

Category strategies set the roadmap for the category's [blank]. 1. Definition 2. Role 3. Tactics 4. Name

Tactics

According to CatMan 3.0, what is the right sequence for developing a category plan? 1. 1) Definition, 2) Role, 3) Strategies, 4) Tactics 2. 1) Role, 2) Definition, 3) Strategies, 4) Tactics 3. 1) Definition, 2) Role, 3) Tactics, 4) Strategies 4. 1) Role, 2) Strategies, 3) Tactics, 4) Definition

1) Definition, 2) Role, 3) Strategies, 4) Tactics

Which tactics are informed by category strategies?

The 4 P's. Product assortment, pricing, promotion, placement

Traffic Building strategies can drive shoppers toward which of these places? 1. Checkout 2. Aisle 3. Store 4. Department 5. Category

Aisle, store, department, and category

Which is a good example of a product group promotion? 1. Multi-packs 2. Variety packs 3. Buy 1, get 1 4. 10 for $10, mix and match

10 for $10, mix and match

True or False: Turf Protection strategy is most commonly used to protect your market share against competitors in your channel.

F. Typically used to protect against competitors NOT in your channel

Which type of items would be LEAST likely to create excitement for shoppers? 1. New items 2. Trendy items 3. Everyday items 4. Seasonally relevant items

Everyday items

The Image Enhancement strategy is typically trying to reinforce the [blank]. 1. Department image 2. Category image 3. Product image 4. Store image

Store image

True or False: Cash flow is generated by selling fast turning items with favorable payment terms.

What is the formula to calculate Retail Margin? 1. Retail - Cost 2. (Retail - cost)/Retail 3. (Retail - cost)/Cost 4. (Retail - cost)/(cost - retail)

(Retail - cost)/Retail

It is typical to assign strategies against [blank]. 1. The entire category 2. Each individual item 3. Relevant product groups 4. A single brand

Relevant product groups

The use of data is especially relevant to what steps? 1. Tactics 2. Goal setting & scorecard 3. Insights immersion 4. Internal and external alignment 5. Measure, learn & change

Goal setting, Insights, and Measure, learn and change

Which key metric can be obtained by household panel data? 1. Share of market 2. Share of wallet 3. Share of voice

Share of wallet

What is the role of data in category management? 1. Hypothesis - data - facts 2. Business goals - data - scorecards 3. Data - insights - action 4. Data - analytics - answers

Data - insights - action

Pick the key measures available in retail POS data. 1. Price per unit 2. Number of households 3. Number of units sold 4. Shelf inventory 5. Products sold

Price per unit, Number of units sold, Products sold

Pick the critical insights available in retail POS data. 1. Market share 2. Unit growth 3. Household growth 4. Top selling items 5. Dollar growth

Unit growth, Top selling items, Dollar growth

What is the most important role that syndicated POS market data plays in Category Management? 1. Combining and harmonizing data from multiple retailers 2. Providing data in an easy-to-access format 3. Providing access to multiple years of data 4. Updating data on a weekly basis

Combining and harmonizing data from multiple retailers

Pick the critical insights available in syndicated POS market data. 1. Share of wallet 2. Trip growth 3. Top selling items in a channel 4. Retailer market share 5. Brand market share

Top selling items in a channel, Retailer market share, Brand market share

Which one of these measures is NOT available in loyalty card data? 1. Number of households 2. Trips per household 3. Market share 4. Units per trip 5. Price per unit per trip

Market share

True or false: Loyalty card data helps a retailer identify their most valuable shoppers.

Which one of these segments is NOT available in household panel data? 1. Household size 2. Household income 3. Household price sensitivity 4. Household age/generation 5. Household political affiliation

Household political affiliation

What is a unique insight available in household panel data? 1. Market share 2. Share of wallet 3. Retailer trip growth 4. Retailer houehold growth

Share of wallet

What criteria do you need to identify prior to pulling from any data set? 1. Time periods 2. Geographies/retailers 3. Categories/products 4. Key measures

All

An effective way for retailers to benchmark themselves against the market is through an Index vs. ACV calculation. What is ACV and how is it calculated? 1. All Category Volume, and it is calculated by summing up the volume of all items within a category to a Total ACV number. 2. All Channel Volume, and it is calculated by summing up the volume of all categories within a channel to a Total ACV. 3. All Commodity Volume, and it is calculated by summing up the total of all category sales within a geography (market, channel or retailer), to get a Total ACV number. 4. None

All Commodity Volume, and it is calculated by summing up the total of all category sales within a geography (market, channel or retailer), to get a Total ACV number.

What is the most important reason for retailers to benchmark themselves against more than the channel which they compete within? 1. It gives an external perspective of the total market that shoppers are shopping in. 2. It gives competitive perspective to understand how they are doing vs. key banners and competitors. 3. It gives shopper perspective to understand shopping behaviors. 4. None

It gives an external perspective of the total market that shoppers are shopping in.

Tonnage volume or equivalized volume is a measure expressed in a common unit relevant to a category that goes beyond unit sales. Which of the following are examples of this? 1. pounds, grams, gallons, cases 2. units, unit share, units per store 3. $ volume, $ sales, profit $ 4. GMROI, GM%, gross margin

pounds, grams, gallons, cases

Circulars, flyers, inserts or newspaper ads, and in-store specials are important promotion vehicles that help with which of the following? 1. Publicize different brands 2. Increase awareness, trial, and/or repeat purchases 3. Feature price reductions 4. Build sales by up to 25%

Publicize different brands, Increase awareness, trial, and/or repeat purchases, Feature price reductions

True or False: Development in online sales has a direct impact on a retailer's tactics.

Retailer X wants to understand his potential sales for Item A if he increases distribution. Using the below information, what are the total potential sales for the item? Sales: $2,000 Current Distribution: 85 Distribution Target: 95 A. $2,200 B. $2,235 C. $2,780 D. $3,700 E. $3,900

B. $2,235

Retailer X wants to determine the most productive segment in a category. Using the below information, which segment is most productive? Segment A has a 40.0 dollar share and 10 items Segment B has a 40.0 dollar share and 12 items Segment C has a 20.0 dollar share and 3 items 1. A 2. B 3. C

Segment C

Display, pricing, and promotion usually create an increase in sales versus if the product was NOT given one of these conditions. What is this increase in sales called? 1. Profit 2. Payout 3. Subsidy 4. Lift

Lift

Calculate the gross margin % for the following product. Select your answer and click SUBMIT. Retail Price: $6.99 Cost: $4.79 A. 22 B. 31.5 C. 45.9 D. 54.4 E. 68.5

B. 31.5

At what product level is average unit price (both regular and feature) MOST effective and why? 1. Category level. It allows you to understand the blended average unit price at a higher level. If average unit price is increasing, shoppers are switching to more premium products. 2. Segment level. It allows you to compare blended average unit prices across different segments, to determine the most premium segments. 3. Item level. Average unit price should only be used at an item or line-priced level, because at a category, brand, or segment level, it is a blended average. 4. All

Item level. Average unit price should only be used at an item or line-priced level, because at a category, brand, or segment level, it is a blended average.

Which of the following is NOT an assortment strategy? 1. First to market 2. Market coverage objectives 3. Broad assortment 4. Private label products 5. They are all assortment strategies

They are all assortment strategies

To perform a robust retail pricing analysis, which of the following would be LEAST IMPORTANT in your analysis? 1. Compare the retailer's prices to the overall marketplace 2. Quantify the impact of price change on category sales performance 3. Quantify the impact of price change on segment sales performance 4. Measure the level of discount between promoted and non- promoted pricing 5. Focus on average price as the primary pricing measure since it combines everyday pricing and promoted pricing

Focus on average price as the primary pricing measure since it combines everyday pricing and promoted pricing

What is the measure that is weighted by product units sold while on discount and product units sold when no discount is present? 1. average price 2. discount average price 3. base price 4. promoted average price 5. standardized price

average price

CPCA Updated Flashcards

(86 cards)