Exam (elaborations)
Cma Exam Questions And Answers With Verified Solutions 100% Correct!!!
- Course
- Institution
Cma Exam Questions And Answers With Verified Solutions 100% Correct!!!
[Show more]
Content preview
Cma Exam Questions And Answers WithVerified Solutions 100% Correct!!!
True or False. Category Management is only possible if you have a full suite of
data and automated tools to work with. - ANSWER✔✔False - You can do
category management - just less sophisticated - with limited data & technology
Match up each component to their best description:
1. Category Assessment
2. Category Tactics
3. Category Scorecard
4. Category Strategies - ANSWER✔✔1. Uncovers the biggest areas of opportunity
for the retailer.
2. Creates action in the category and can have significant impact on sales and
profits.
3. Tracks how the retailer is doing vs. category goals and targets.
4. Defines differentiated purposes for categories in the store.
What are the 4 prerequisites for category management? - ANSWER✔✔Data,
Organizational Alignment, Collaborative Approach, Technical Tools/Automation
Which of the following statements regarding allocation of resources to categories
is most accurate? - ANSWER✔✔Retailers should allocate resources to the
category based on the category's overall importance to the store and to their
shoppers.
Consideration for which perspective will give you the winning formula in category
management? - ANSWER✔✔All 3 of these perspectives are important for a
winning formula (Consumer, Retailer, Vendor)
,There are several roles that retails may ask their vendors to participate in.
_________ or Vendor Advisors may be responsible for providing labor assistance
and helping them grow the category for the retailer. _________ or Validators refer
to vendors that a retailer selects to provide supplemental data, resources, analytics,
ideas, (and often a second opinion). This results in a team capable of producing
enough business analysis and tactical programs to make the category management
process succeed for the retailer. - ANSWER✔✔Category Captains, Category
Advisors
Which of the following answers presents the original category management 8-step
process defined by the joint industry in the correct sequence? - ANSWER✔✔1.
Category Definition
2. Category Role
3. Category Assessment
4. Category Scorecard
5. Category Strategies
6. Category Tactics
7. Plan Implementation
8. Category Review
Following are components of the category plan. Which element is where a retailer's
opportunity gaps are determined? - ANSWER✔✔Market and Category
Assessment
"To attract customer traffic down the aisle", "to increase impulse purchases", and
"to turf protect" are examples of what? - ANSWER✔✔Category Strategies
,In which retail channel is category management practiced? - ANSWER✔✔All of
these answers are correct (Online, Drug, Mass + Club, Grocery)
In which of the following retailer strategy examples can only one retailer really
"own" the strategy with the consumer within a market? - ANSWER✔✔Cheapest
Price
True or False. Retailers may have more than one type of store format so that they
can attract different types of shoppers to each the different formats. -
ANSWER✔✔True
Retailer X focuses their strategies on their very important customer. Their fresh
areas like deli, meats, and products have a wide assortment of products, and they
have a carryout service and in-store childcare. They maintain consistent pricing
slightly above market price. What would their overall strategy most likely be? -
ANSWER✔✔Great shopping experience and/or easiest to shop
Which of the following is a question that would LEAST likely be addressed in the
retailer strategy phase in category management? - ANSWER✔✔What are category
tactics?
Which of the following statements best represents an attribute of a Club (large
format) store? - ANSWER✔✔They tend to have lower operating expenses and less
overhead, so prices are generally lower
A retailer's strategy will affect: - ANSWER✔✔All of the answers are correct.
(Category Roles, Category Strategies, and Category Tactics)
, Which type of private label branding is "a no name brand" often used to indicate
the lowest cost alternative options? - ANSWER✔✔Generic Brand
Store Layout, Aisle layout, and category adjacency plans should all be included in
what piece of the retailer's strategy? - ANSWER✔✔Product Placement
The retailer's operations team can have significant influence over implementation
of category plans at a store level. Which of the following is the responsibility that
retail operations would have the LEAST influence over? - ANSWER✔✔They
develop overall strategies for the retailer
Which tactic is most influenced by a retailer's Private Label/Store Brand strategy? -
ANSWER✔✔All of the answers are correct. (Product Assortment, Product
Placement, Promotion, Pricing)
True or False. Maintaining item level segmentation is an ongoing process for
retailers and suppliers. - ANSWER✔✔True. As new items are brought in. They
need to be properly segmented. This is usually tied into the new product launch
process. Because of remerchandising, space allocation; missing trends occurring in
the marketplace.
How a retailer defines a category has implications on different areas of the
retailer's business. Match each of these areas on the left with the best description of
what's more specifically affected by the category definition on the right.
1. How data is segmented
2. How data is purchased
3. How product is purchased
4. How a company reports their business - ANSWER✔✔1. Affects the consumer
decision tree and hierarchical structure for the category.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now