To analyze assortment management, the philippine country code following methods are used:
Market analysis. Here, specialists identify what share of the total sales flow the store occupies. To do this, it is necessary to analyze the growth rate and capacity of the market.
After the market has been researched, experts conduct a survey of consumers: how often they make purchases, which brands they prefer, and which, on the contrary, they prefer not to buy.
Another element of analysis is competitors, their pricing and product policies, and the range of products they offer for sale.
Next come ABC and XYZ analyses, where the rate of profit receipt and its increase are determined, and the turnover of goods is assessed.
The above methods make it possible to analyze the amount of sales, gross and net profit of the enterprise. These indicators are calculated per 1 square meter of the store area. Such figures as sales profitability and more are determined.
Step 4: Develop a Product Category Strategy
The company's product range management system has a number of tasks. If the strategy is developed to achieve the greatest efficiency of the product category, then the goal in this case is to increase the number of satisfied customers. The development should be carried out by highly qualified specialists, only their knowledge will enable the company to consistently make a profit.
The development of this long-term policy largely depends on the analysis of the strategic characteristics of the product included in a particular category. The information obtained can become the basis for the strategy and an assistant in calculating its effectiveness. This approach makes it possible to optimize the category structure as effectively as possible and do this exactly when necessary.
Developing a Product Category Strategy