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Press release content from Business Wire. The AP news staff was not involved in its creation.

Want to Know the Approach Adopted by Top Companies to Create Effective Category Plans? Download SpendEdge’s Free Resource Now!

May 23, 2019
Steps to Create an Effective Category Plan. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 23, 2019--

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their free downloadable article on the approach adopted by companies to create winning category plans. The article offers a comprehensive overview of how category planning help companies to drive sales of a specific group of products within stores and gain a competitive edge in the retail market. The free resource also highlights challenges faced by category managers and offers an effective three-step approach to create a potent category plan.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190523005554/en/

Steps to Create an Effective Category Plan. (Graphic: Business Wire)

With the changing consumer behavior, the need for an effective category plan has increased tremendously. The traditional 8-step category management process focusing on categories is proving inefficient and companies need a strategy that can respond to a more complex environment. Download this free article to know the approach adopted by top companies to create a winning category plan.

Developing an effective category plan is imperative for companies to drive category growth. Request a free demo to know how our experts can help you with accurate market insights.

Steps to Create an Effective Category Plan

Step 1: Conduct Category Assessment

Companies need to start with a category assessment to develop an effective category plan. This requires them to collect data through various sources and standard templates. The assessment conducted helps companies to conduct a SWOT analysis and identify gap opportunities.

To know how companies can create an effective category plan, download the complete article here.

Step 2: Create a Category Plan with Insights

After conducting category assessment, businesses need to develop a plan that can address key areas of category management involving category strategies, gaps and opportunities, category goals and private labels, and targets. The plan developed should include product assortment, placement, promotion, and pricing.

Determining pricing of products is crucial for companies. Request a free proposal to access our service portfolio of category management solutions.

Step 3: Develop a Strategic Implementation Plan

Once the category plan is developed, companies need to engage with all cross-functional teams and communicate the plan to them. They also need to analyze the effects it will have on stores, costs, and profit margins of the company.

Get in touch with our analysts to gain a comprehensive overview of benefits leveraged by top companies through effective category planning.

About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Want to gain detailed insights? We’re here to help you out! Tell us more about your business challenges.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190523005554/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299




SOURCE: SpendEdge

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