A Category Executive (often called a Category Manager) is responsible for the strategic management and optimization of a specific product category within a business to drive sales and profitability. Key duties include conducting market and competitor analysis, developing data-driven category strategies for pricing, promotions, and assortments, collaborating with marketing, sales, and supply chain teams, managing supplier relationships, and monitoring category performance to achieve sales targets and align with market trends.
Key Responsibilities
Strategic Planning:
Developing and implementing category-specific strategies to meet sales and profit goals.
Market & Competitor Analysis:
Conducting research to identify market trends, opportunities, and threats.
Assortment & Pricing:
Optimizing product assortments and determining competitive pricing strategies.
Promotional Planning:
Working with the marketing team to create effective promotional plans and product positioning.
Supplier Management:
Negotiating contracts and building relationships with suppliers to secure favorable terms and ensure product availability.
Performance Monitoring:
Analyzing sales data and other metrics to track category performance and adjust strategies as needed.
Cross-functional Collaboration:
Working closely with marketing, sales, purchasing, and supply chain teams to align on initiatives.
Inventory Management:
Monitoring inventory levels to ensure product availability and prevent stockouts or overstock.
Reporting:
Preparing reports on category performance and presenting findings to senior management.
Key Skills
Analytical Skills: Ability to analyze sales data, market trends, and other information to make informed decisions.
Strategic Thinking: Developing long-term plans and strategies to achieve business objectives.
Negotiation Skills: Effectively negotiating with suppliers to secure favorable terms.
Communication Skills: Clearly communicating with internal teams, management, and external partners.
Relationship Building: Cultivating strong relationships with internal stakeholders and external suppliers.
Leadership Skills: Motivating teams and delegating tasks effectively.
Data Literacy: Proficiency in using data to drive decisions and measure performance.