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 Accountability:
- Devise long-term development strategies for product categories:
- Analyze data or insights to determine industry and consumer trends
- Determine the positioning of a product category to maximize visibility
- Product Demand forecast & Budgetary responsibilities:
- Make forecasts for product demand to ensure the sustainability of inventory
- Assume responsibility of budget development and revenue for category
- Place appropriate orders to ensure product availability that meets consumer demands.
Stakeholder Management:
- Foster trust relationships with vendors to achieve better pricing and quality of services
- Collaborate with buyers and merchandisers to expand product categories
- Coordination with Sales & Marketing Team:
- Liaise with Sales & marketing teams to determine competitive pricing and promotional activities of a product category
Exit Strategy:
- Develop exit strategies for unsuccessful products
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