Category Management
Summary Description
- Category managers are integral to the development and success of a product or service. It is their job to manage the product category or range and be responsible for the pricing and overall promotion of that product or service.
Role and Responsibilities
A category manager’s goal is to increase the profitability of a business to drive sustainable growth, as such, responsibilities may include:
- Analyzing data or insights to determine organizational and consumer trends regarding the category.
- Creating and developing a strategic long-term plan for the development of the category
- Overseeing a team of analysts and other support staff
- Building and driving relationships with key vendors to improve pricing and quality of services
- Becoming a leader in category ranging, pricing and promotions across channels • Placing appropriate orders to ensure product availability meets demand
- Leading category management projects to optimize ranges and related merchandising
- Collaborating with buyers to expand product categories
- Creating forecasts for product demand to ensure sustainability of inventory
- Managing budget development and revenue for the category
- Developing strong working relationships with buying, marketing and merchandising teams
Qualifications & Experience
A key part of a category manager’s role is to build relationships both internally and externally meaning good communication is a crucial skill to have. Here we explore the other personal qualities and skills required:
- Previous experience in category management is a plus
- Strong knowledge of category management, and marketing principles
- Ability to analyze and develop accurate conclusions to support category decisions based on key data
- An understanding of the market and consumer insights and trends
- Strong people management and persuasion skills to manage and influence at all levels of the company
- An analytical mind with strategic ability
- Excellent communication and interpersonal skills
- Proficient in MS Office
- Good understanding of numeracy