...RETAIL PRINCIPLES Category Management The principles outlined in the category management section are based on many years experience in retailing and proven fundamentals. They are presented in a format to encourage you the retailer to work on these principles within your business. By the very nature of retailing, markets and customers will change over time. Retailers must understand and mange this information through category management. Due to the limited amount of time available in the review, the principles will be limited in there scope to generic retail principles. Managing your retail business through category management improves your knowledge and ability to react quicker to the customer’s wants and needs. As a retail owner you need to have at least 15 categories based on product groupings within your store. You can also break down each category into sub categories for further analysis. The categories that you establish will be the basis of ongoing management across key performance indicators (KPI’s) that you want to manage within your business. The categories you chose should be based on product types or groupings. If you are in food for example your categories would be your menu offer for example: sandwiches, cold drinks, coffee, cakes, salads, donuts. If you are in home wares categories like: gadgets, dinnerware, saucepans, kitchen ware, and glass ware are some examples. How good is your collection of data? To collect information on categories you need to ensure that...
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...sought a way to improve margins and compete more effectively. They wanted to reconnect with consumers and satisfy their needs, or face the prospect of an eroding shopper base. Given the endless variety of new products pouring into the marketplace, retailers wanted to ensure that CO PY RI I GH TE 13 D MA The Evolution of Category Management and the New State of the Art TE RI AL 14 In the Beginning—The Purpose of Category Management their shelves were stocked with products that consumers wanted to buy. Mainly, they wanted to stay in business. Birth of the Eight-Step Process Many progressive retailers and manufacturers realized that there was gold in the reams of data available from retail point-of-sale (POS) systems. Was it possible to figure out which products to stock in a certain store? Could analysis of the data tell retailers how to customize the shelf sets in all the stores of a chain according to what shoppers were buying and wanted to buy? Could they attract and retain specific niches of high-value shoppers? The answer was yes. The way to do it was a process called category management that was developed in the early 1990s by The Partnering Group (TPG), a consulting firm. A few of the larger retailers began testing the process. Soon the manufacturers jumped on...
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...One-Page Guide to Solving Your Category Management Problems Category Management Definition: Managing Product Categories as Business Units to Satisfy Customers Needs. “Find out what the Customers want and give it to them”. Category Management the pre-eminent technique used by leading retailers and suppliers to deliver their retail strategy and develop new products. Category Definition: Base the category on the grouping of like products that the customer expects to see in the store displayed together and in which a meaningful choice can be made. Example, Canned Fruit not Canned Goods. Sub Category Definition: Divide the category further, based on product types that the customer can relate too based on the customer decision making hierarchy. Example, Canned Peaches, Canned Apricots not by brand. Product Group Hierarchy: Have at least 5 levels, up to 10 if possible. Start at the top with the basic groupings that are displayed together. Example, Hypermarket Food Groupings, Grocery 1, Grocery 2, Beers Wines Spirits, Health and Beauty, Household, Fresh Food, Frozen Food. Split these further down into Categories, Sub Categories, Product Groups and Sub Product Groups based on how the customer perceives them and your Category definitions. Product Data Reports: Construct data reports for each Category based on the Product Group Hierarchy. For each product show sales, profit, movement for last year and year on year growth. If you have different store formats or ...
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...For the exclusive use of M. Hossain rP os t TB0249 Andrew Inkpen Jextra Neighbourhood Stores in Malaysia op yo In October 2010, Tom Chong was on his way to his office and thinking about several issues he would have to deal with in the coming weeks. Chong was Jextra Stores (Jextra) country manager for the Neighbourhood Markets Division in Malaysia. One issue involved a conversation with the mayor of Klang, a town near Malaysia’s capital city of Kuala Lumpur. Chong had been seeking to expand to Klang for some time. The mayor surprised Chong with an offer to help with land zoning if Jextra would help finance a new primary school (or at least Chong thought that was what he had been asked for). The second issue involved the job performance of Arif Alam, Jextra’s top-performing buyer. Alam, a buyer of fresh fruit and vegetables, consistently negotiated better contracts than Jextra’s fifteen other buyers and, Chong believed, better than Jextra’s competitors. The contracts negotiated by Alam certainly contributed to the excellent financial performance of Jextra Malaysia. Nevertheless, Chong could not help wondering if there was more to the picture than he was aware of. The retail industry in Malaysia was notorious for buyers accepting money and gifts from suppliers. A few days ago, Chong had accidentally overheard two of his accounting employees speculating that Alam must be accepting gifts, or even taking bribes—how else could he get such good contracts...
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...DMC Career Website --- Tips on Use of Search Categories The search categories are as follows, with the job titles listed being examples of some of the most frequently posted jobs from that category. Note: The jobs listed are NOT a list of ALL jobs that may be in this category, only examples. |Advance Practice Nurses |Rehabilitation Therapy (PT/OT/SLP) | |Nurse Practitioner |Occupational Therapist | |Clinical Nurse Specialist |Occupational Therapy Assistant | |Certified Registered Nurse Anesthetist |Physical Therapist | | |Physical Therapy Assistant | | |Rehabilitation supervisor / management positions | | |Speech / Language Pathologist | |Nursing – Licensed |Respiratory | |Care Management Specialist |Certified Respiratory Therapist ...
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...Journal of Sports Sciences ISSN: 0264-0414 (Print) 1466-447X (Online) Journal homepage: http://www.tandfonline.com/loi/rjsp20 Do weight categories prevent athletes from relative age effect? Nicolas Delorme To cite this article: Nicolas Delorme (2014) Do weight categories prevent athletes from relative age effect?, Journal of Sports Sciences, 32:1, 16-21, DOI: 10.1080/02640414.2013.809470 To link to this article: http://dx.doi.org/10.1080/02640414.2013.809470 Published online: 24 Jul 2013. Submit your article to this journal Article views: 342 View related articles View Crossmark data Citing articles: 5 View citing articles Full Terms & Conditions of access and use can be found at http://www.tandfonline.com/action/journalInformation?journalCode=rjsp20 Download by: [Universiteit Leiden / LUMC] Date: 31 May 2016, At: 04:05 Journal of Sports Sciences, 2014 Vol. 32, No. 1, 16–21, http://dx.doi.org/10.1080/02640414.2013.809470 Do weight categories prevent athletes from relative age effect? NICOLAS DELORME University of Bordeaux, Laboratoire Cultures, Education, Sociétés, Bordeaux, France Downloaded by [Universiteit Leiden / LUMC] at 04:05 31 May 2016 (Accepted 24 May 2013) Abstract The aim of this study was to investigate whether weight categories prevent young athletes from being exposed to a relative age effect. The dates of birth of all French female (n = 727) and male (n = 5440) amateur boxers who participated in the 2010–2011...
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...Both magazines categorise their audiences in different ways but a main factor is content. Content on ‘Mens Health’ clearly indicates a male audience; this is done by numerous masculine ways. One of which is the use of image, normally a masculine figure on the magazine, in my specific magazine edition it is a UFC fighter centralised in a fighting pose. This conveys masculinity and appeals to the average man to want to look like and the want to be tougher. This is categorising the audience to people who want to change or improve their body. Terms such as ‘best’ are repeated on the cover, which we can see using Young and Rubicon’s 4C’s table that the category ‘aspirer’ would fit in perfectly for this. A person who wants nothing but the best; this is reinforced immediately with terms such as ‘instant results’ which also apply to that category. The purpose of the magazine is not only to try and get people to buy it, but to believe in what they are selling and that the magazine can change your life physically and mentally. Exaggeration is used in the magazine heavily, with phrases like “Get NASA IQ”, which is absurd to think that...
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...Life Styles Inventory Janessa Herron JDH2891@aol.com MGMT 591 Leadership & Org Behavior Dr. Kimm July 15, 2012 As indicated by the Life Style Inventory assessment, I scored in the highest percentiles for humanistic encouraging, achievement, and self-actualization. The three of these categories scored 40 and ranked in the 99th percentile, these would be considered my primary thinking styles. My secondary style is the affiliate style, which received 38 and ranked in the 93rd percentile. Pertaining to the 12 o’clock position, self actualizing, I feel that I relate to this style, however it is not the style I self identify with the most. Per LSI description, Self-Actualizers are effective because they seek possibilities in all opportunities. It also states that I have a strong concern for self-development, strong instincts & intuition, and I have an energetic and exciting approach for life. The achievement style is another style that I can relate to, but do not self identify with. I feel as though I have a personal need to be the over achiever; Especially in the academic world. I also like to have things in order, I lead by example as the descriptions say. Humanistic encouraging is the 1 o’clock position. This is the style that I scored high on and feel I can self identify. The LSI description says that I have a concern for the growth and development of others as well as nurturing side. I fully agree with this. I feel this allows me to better my relationships...
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...For each category, please allocate 25 points across all team members (including yourself) based on your assessment of each individual contribution. Accordingly, there will be a total of 100 points distributed across all four categories. Give more points to those who made the biggest contribution and less points to those who made least contribution. For each category, please allocate 25 points across all team members (including yourself) based on your assessment of each individual contribution. Accordingly, there will be a total of 100 points distributed across all four categories. Give more points to those who made the biggest contribution and less points to those who made least contribution. For each category, please allocate 25 points across all team members (including yourself) based on your assessment of each individual contribution. Accordingly, there will be a total of 100 points distributed across all four categories. Give more points to those who made the biggest contribution and less points to those who made least contribution. For each category, please allocate 25 points across all team members (including yourself) based on your assessment of each individual contribution. Accordingly, there will be a total of 100 points distributed across all four categories. Give more points to those who made the biggest contribution and less points to those who made least contribution. For each category, please allocate 25 points across all team members (including...
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...1. How should the Company determine whether an inventory impairment exists at September 30, 2002? More specifically, how should management evaluate impairment? The company should not try to evaluate impairment under the lower of cost or market method on a total inventory basis. PIGS must focus on trying to give an understandable and complete view of the company. As there are different category of inventory with different market prices and different cost, PIGS should first determine if there is inventory impairments at September 30, 2002 under lower of cost or market method inventory categories. Farmer Joe could separate its production into two categories: internally developed categories and hogs produced and sold to third parties. In case of a material effect where costs would be unable to recover, investors would like to have the possibility to find impairments. Therefore lower of cost or market method should be applied to individual category as they will be more significant for investors. Given the fact that PIGS has both internal and external production, grouping the category into one inventory could be misleading to investors analyzing financial statement. 2. If the company determines that an impairment of inventory is necessary, should the impairment be recognized in an interim period if prices are expected to recover before year-end? As Farmer Joe believes that the fall in price is due to seasonal fluctuation, he as to report the impairment at an interim period...
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...Taking a new consumer goods category from zero to 100 in no time flat The race to create categories and subcategories may be your best option in emerging markets. Here’s how winners set the pace. By Mike Booker, Wlademir Gomes, Nikhil Ojha and Robert Schaus Mike Booker is a Bain & Company partner based in Singapore and leads the firm’s Consumer Products and Retail practices in Asia-Pacific. Wlademir Gomes is a Bain partner in São Paulo. Nikhil Ojha is a Bain partner in New Delhi. Robert Schaus is a Bain partner in Kyiv. Pierre-Laurent Wetli, a Moscow-based principal, and Joachim Breidenthal, a principal based in Johannesburg, also contributed to this article. Copyright © 2012 Bain & Company, Inc. All rights reserved. Taking a new consumer goods category from zero to 100 in no time flat Branded edible oils in Sudan, soy fruit drinks in Brazil, isotonic drinks in Indonesia. Five years ago, these categories were barely on the radar in these countries. By 2011, they ranged between $400 million to $890 million in revenues in these markets, generating significant profits for the companies that took the initiative to introduce them. Emerging markets may be expanding at a record-setting pace, but many also are undergoing rapid category consolidation. It’s to the point where, in many cases, the top three to five players now control the lion’s share of a category in any given market. Consolidation can slim margins for incumbents and limit opportunities for new players. That leads...
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...is to represent all products in a store in a catalog, either in a print format, or in case of online store, an electronic catalog. To simplify the catalog building process and customer browsing of a catalog, products are often classified into categories where similar products that share common attributes are in one broad category. An example would be footwear, where each product in this category shares some common attributes like size, material, color, gender (male, female, or children), and then can have more specialized sub-categories like sports footwear. Another example would be an appliances category where all have more specialized sub-categories like sports footwear. Products share common attributes as an operating voltage, color, energy consumption, dimensions (height, width and length), and further have some special sub-categories like refrigerators. An online store would be interested with categorizing its products to be able to add new products efficiently, as it would only need to add the new product to its sub-category and specify values for its attributes that were defined in the product subcategory and all the parent categories. Therefore, re-using previously defined attributes for a product category. A typical customer would be interested with selecting a product based on certain attributes, like selecting a stainless steel refrigerator, and then to compare on other attributes like getting...
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...subcategory by giving examples of each. These categories are given the acronym STEPPS, which stands for social currency, triggers, emotion, public, practical value, and stories. Berger explains these six categories in depth. It was really interesting to see why people do what they do. While reading these examples, I realized that we go through everyday life trying to make ourselves look good whether it would be the way we dress or changing our personality. Berger allowed his audience to put a name to each category and demonstrated with examples, which made it very clear to understand. I really enjoyed the book because I felt Berger had a great sense of humor. He would link a small quote to each category that really stuck with the reader. I think overall this helped contribute to a better grasp on the information. For the public category, he said, “monkey see, monkey do” which I felt was the perfect description. If people start wearing yellow live strong bracelets, you obviously can’t be the person without one, hence you almost feel obliged to purchase one. What I took away from this book is being able to look at these examples and categories from a business point of view. As a consumer I definitely feel more informed with why things actually do catch on, but as a business student I feel that I now understand how business may be able to use these concepts to increase their efficiency. This book gave me insight on how businesses can use these categories especially in their marketing department...
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...card expense and the other was an out-of-pocket reimbursable expense. Suspicious Keyword Match Validate all transactions are for authorized purposes. Identify all T&E transactions that contain words from the Restricted Word list anywhere in the merchant name, transaction description, business purpose field that indicates a potentially unauthorized purchase. Round Amounts Detect potential fraud and abuse for unauthorized gift cards, cash advances, or excessive tips, identify T&E transactions that are evenly divisible by . Excessive High-Risk Detect potential fraud and abuse of expense types that require less documentation. Identify Expense Categories employees who have transactions in High-Risk expense categories that exceeded thresholds for either the count or total amount. Common High-Risk expense categories: Tips, Miscellaneous, Baggage Fees, etc. Group Meal Amount per Attendee Ensure that all attendees are properly documented and prevent excessive group meal expenses. For each expense identified as a group meal, calculate the amount per attendee, and report group meals where the amount per...
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...DATA PREMIER LEAGUE Case 2: ALS IceBucketChallenge Objective: Sentiment analysis of twitter tweets and facebook posts during the Ice Bucket Challenge ALS Ice bucket challenge is an activity which involves dumping of ice water on one’s head to promote awareness of the disease ALS as an alternative for donation. It went on viral during July and august 2014. Challenge encourages nomination of other kith and kin’s to do the same within 24 hrs. Methodology: Data Preprocessing: From the given data all redundancies were cleaned up. By using vector source in Corpus, we cleared punctuation marks, numbers, converting all the words into a single case (as it is casesensitive), removing stop words which do not make sense in the sentence, stripping out whitespace and http links were removed. Clearing all this unnecessary data, we get the content which makes actual sentiment overall in each post/tweet. Data Analysis: The overall sentimental score was developed using an algorithm which contains 7 liker scale using R tool by considering the standard Positive and negative words. Categorical analysis was performed using excel based API developed on the NLP algorithm used by Semantria to get individual categorical analysis as to how the emotions and trend was The statements were split into words and un-listed the results in a list of words. Matched these un-listed words to the Positive master list and this returns the indices of all the matched words. The attempt made here is...
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