What is a Category Management Strategy?
Category management is a strategy used by businesses to maximize the performance of a category of products and services. It involves identifying customer needs, analyzing the competitive landscape, and developing a strategy to meet customer needs, drive category growth and increase profitability. The category management strategy template is a comprehensive tool for category managers and teams to develop and implement category-specific strategies.
What's included in this Category Management Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Category Management Strategy template for?
The category management strategy template is designed for category managers, marketing teams, and other business professionals looking to maximize category and brand performance. The template provides a comprehensive framework to define focus areas, objectives, and projects, while making sure they are measurable and attainable.
1. Define clear examples of your focus areas
Focus areas are the main areas of focus or goals of the category management strategy. It’s important to define clear examples of focus areas so that the team has a clear understanding of what the overall objective of the strategy is. Examples of focus areas could include increasing consumer engagement, driving sales, or improving customer retention.
2. Think about the objectives that could fall under that focus area
Objectives are specific goals that could be achieved within the focus area. For example, if the focus area is increasing consumer engagement, objectives could include increasing social media presence, increasing engagement through social media, or launching loyalty programs.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (Key Performance Indicators) are targets that can be set to measure progress and success of the objectives. KPIs should be measurable and specific, and should reflect the objectives. For example, a KPI for increasing social media presence could be “Increase Social Media Followers by 20%.”
4. Implement related projects to achieve the KPIs
Projects (or Actions) are the steps taken to achieve the KPIs. Projects should be specific and related to the objective and KPI. For example, if the KPI is “Increase Social Media Followers by 20%,” the project could be to “Increase Social Media Presence By Building a Social Media Calendar.”
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
The Cascade Strategy Execution Platform is a comprehensive tool to help teams quickly and effectively develop and implement strategies. Cascade enables teams to define focus areas, objectives, and projects while measuring progress and success of the plan. With Cascade, teams can see faster and more effective results from their category management strategy.