Job Purpose:
To manage a group or category of products for the company, responsible for the pricing and overall promotion of a product category to maximize consumer appeal. Relationships with vendors and product range management also to be taken care of.
Principal Accountabilities -
1. Devise long-term development strategies for product categories:
a. Analyze data or insights to determine industry and consumer trends
b. Determine the positioning of a product category to maximize visibility
2. Product Demand forecast & Budgetary responsibilities:
a. Make forecasts for product demand to ensure the sustainability of inventory
b. Assume responsibility of budget development and revenue for category
c. Place appropriate orders to ensure product availability that meets consumer demands.
3. Stakeholder Management -
a. Foster trust relationships with vendors to achieve better pricing and quality of services
b. Collaborate with buyers and merchandisers to expand product categories
4. Coordination with Sales & Marketing Team:
a. Liaise with Sales & marketing teams to determine competitive pricing and promotional activities of a product category
5. Exit Strategy -
a. Develop exit strategies for unsuccessful products
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