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D. Cannibalization - CORRECT ANSWER-A Retailer introduces a new item in Category A that causes Category B buyers to switch their purchases from Category A to Category B. What is this an example of? A. Brand extension B. Incremental contribution C. Product Line extension D. Cannibalization True (space planning) - CORRECT ANSWER-True or false? When you're completing an assortment and space planning project, it's best to import the item level data directly into the POG software. D. All of these are justifications for expanding category space - CORRECT ANSWER- Which of the following is not a justification for expanding category space within a retail environment? A. Changes in category profitability B. Changing consumer preferences C. Changing category role D. All of these are justifications for expanding category space E. Category growth B. Product line extension - CORRECT ANSWER-A Supplier decides to introduce a new product size in Brand A, which is a 12-pack of smaller-sized products than the original lineup. What is this an example of? A. Brand extension B. Product line extension C. Cannibalization D. Incremental contribution C. % of stores carrying - CORRECT ANSWER-If 'ACV Distribution' data is not available, what is an alternate measure that you can use to understand product distribution at an item level? A. % of volume B. % of inventory turns C. % of stores carrying D. % of out of stocks
D. Identifies the additional category volume from adding a particular item. - CORRECT ANSWER-Which of the following most accurately describes incremental contribution? (Select the best answer) A. Is the additional item volume realized from the addition of an item. B. All of these describe incremental contribution. C. Is the volume to be expected when adding an item to a category. D. Identifies the additional category volume from adding a particular item. B. False. Different target Shoppers will determine the assortment choices for different Retailers. - CORRECT ANSWER-True or false? Item level assortment within a category should be the same across retailers within the same channel. A. True. Assortment choices are driven by the overall consumer shopping in the market. B. False. Different target Shoppers will determine the assortment choices for different Retailers. True (cannibalization) - CORRECT ANSWER-True or false? The opposite effect of incremental contribution is cannibalization. A. All of these answers are correct. - CORRECT ANSWER-What could be a purpose of a total store space analysis project? A. All of these answers are correct. B. To determine the amount of space each category deserves, according to the criteria used by the retailer. C. To be certain that a category is getting its fair share of space. D. To benchmark every category's space in the store. True (product mix) - CORRECT ANSWER-True or false? Product mix is an important tactic for retailers to optimize for shopper satisfaction. D. Incremental Contribution - CORRECT ANSWER-A retailer introduces a new item in the widget category and offers it at a premium. Buyers that usually buy lower-priced widgets decide to try the new item instead of the widget items they usually buy. What is this an example of? A. Product Line Extension B. Brand Extension C. Cannibalization D. Incremental Contribution B. A model that spreads the cost of a company's activities evenly across all the company's products - CORRECT ANSWER-Which of the following descriptions does not describe activity-based costing?
True (share) - CORRECT ANSWER-True or false? If a retailer sells $135 million in 13 weeks and grew 20% vs year ago and the Market sells $500 million in 13 weeks and grew 18% versus a year ago then the retailer is gaining $ share. A. Using multiple workbooks - CORRECT ANSWER-Which functionality would be least effective when analyzing large volumes of syndicated scanner data in Microsoft Excel? A. Using multiple workbooks B. VLOOKUPs C. Pivot tables D. Pivot charts False (loyalty card) - CORRECT ANSWER-True or false? Loyalty Card Data is included in the syndicated scanner data set. D. Ensuring the loyalty card data updates correctly. - CORRECT ANSWER-What's the least important consideration when creating a monthly updated store-level report from syndicated scanner data? A. Planning for new products that may be introduced after the report is created. B. Planning for new store openings or closures. C. Identifying key performance indicators. D. Ensuring the loyalty card data updates correctly. A. A common identifier across the data sets - CORRECT ANSWER-Which of the following would be the most important consideration when combining different data sets to analyze store-level performance? A. A common identifier across the data sets B. A common platform to integrate the data into C. Determine the duration of data queries D. Definition of core metrics to report common identifier - CORRECT ANSWER-A _____ ______ like UPC code or store # - is required to be able to link data records and subsequently analyze across multiple data sources. B. Measures - CORRECT ANSWER-Which of the following is not a typical type of custom aggregate that can be provided by Syndicated data providers such as Nielsen and IRI? A. Products B. Measures C. Time periods D. Geographies
A. A widget category shopper usually buys widgets at Retailer X. While doing his grocery shopping at Retailer Y, he notices a floor display and decides to buy his widgets at Retailer Y instead of Retailer X. - CORRECT ANSWER-Which of the following is an example of buyer conversion? A. A widget category shopper usually buys widgets at Retailer X. While doing his grocery shopping at Retailer Y, he notices a floor display and decides to buy his widgets at Retailer Y instead of Retailer X. B. A widget category shopper usually buys one case of widgets at Retailer X while he's doing his grocery shopping. He's buying supplies for a trade show event later in the month, so he makes a special trip to Retailer X to buy widgets for the event. C. A widget category shopper goes to Retailer X to buy widgets, but finds his favorite brand is out of stock. He decides to wait and buy the widgets on his next visit to Retailer X. E. 2 members (32.8 of households, which represents the highest % of volume compared to other sizes.) - CORRECT ANSWER-Refer to the table. This table captures demographic results based on household size within a category. What household size represents the highest share of sales for the Price (Value) tier? · Price Tier Distribution of volume and volume index: o 1 member = 12.8 (51 index) o 2 member = 32.8 (105 index) o 3 member = 19.2 (116 index) o 4 member = 21.7 (131 index) o 5+ members = 18.5 (130 index) A. 3 members B. 1 member C. 5 or more members D. 4 members E. 2 members A. Consumer panel data - CORRECT ANSWER-What source of data provides purchase behavior metrics and demographics that can be used in category management work? A. Consumer panel data B. Retailer POS data C. Loyalty card data D. All of these data types are equally important E. Retailer measured data (market data) D. Product loyalty - CORRECT ANSWER-The "share of requirements" or "share of wallet" measures the extent to which a product satisfies a consumer's requirements in a category. What is another term for this measure?
C. Buyer conversion and leakage both measure the percentage of category buyers lost to other stores D. Buyer conversion and leakage both measure the percentage of category dollars lost to other stores A. Current penetration and buying rate ($ per buyer/avg. household expenditures) vs. year ago - CORRECT ANSWER-If a brand's $ sales are up versus year ago, you should review which two panel measures to determine what drove the results? A. Current penetration and buying rate ($ per buyer/avg. household expenditures) vs. year ago B. Purchase size and frequency vs. previous period C. Purchase size and buying rate vs year ago D. None of these answers are correct E. Purchase frequency and buying rate ($ per buyer/avg. household expenditures) vs. previous period False (Point of sale) - CORRECT ANSWER-True or false? Retailer point-of-sale data is available in a consistent and standardized format across different retailers. C. All are analytic options - CORRECT ANSWER-Effective store clustering affords all of the following types of analysis except one? A. Profit optimization curve for optimal number of zones B. Cost to serve analysis C. All are analytic options D. Store elasticity analysis E. Price elasticity by new zones B. False. Store clustering considers more than just geography and focuses more on the shopper. - CORRECT ANSWER-True or false? Store clustering and geographic grouping are different terms for the same thing. A. True. Both of these terms describe the same approach to grouping stores. B. False. Store clustering considers more than just geography and focuses more on the shopper. E. All of these answers are important - CORRECT ANSWER-Which of the following are important in establishing effective store clusters? A. Resource capacity to manage multiple clusters B. Analytical horsepower / computer capability C. Access to detailed demographics and item attribution D. Proper data storage capacity E. All of these answers are important
D. To identify potential assortment, pricing, and promotion opportunities for the retailer from the marketplace. - CORRECT ANSWER-Why is it important to compare a retailer's point-of-sale data with syndicated market-level data? A. Retailers' POS data can be inaccurate and inconsistent. B. Syndicated data cannot be integrated with retailer's point-of-sale data because it measures different consumers. C. Syndicated data is more accurate than retailer's POS data and offers a store-level view of sales trends. D. To identify potential assortment, pricing, and promotion opportunities for the retailer from the marketplace. D. The data may have item discrepancies and UPC rollup errors. - CORRECT ANSWER-Why should you "cleanse" point-of-sale data before analyzing it? A. The data may be added directly to power point slides. B. The data was sent in a hard copy format. C. The data was sent from a syndicated data service and must be converted to point-of- sale. D. The data may have item discrepancies and UPC rollup errors. B. False. Loyalty data is an important consideration that should be incorporated into retail store clusters. - CORRECT ANSWER-True or false? Loyalty data has little to no value when creating store clustering. A. True. Loyalty data is not an important attribute for retailers to consider when creating store clusters. B. False. Loyalty data is an important consideration that should be incorporated into retail store clusters. A. A grouping of stores with similar attributes. - CORRECT ANSWER-* don't know if correct Which of the following phrases best describes a store cluster? A. A grouping of stores with similar attributes. B. A grouping of stores based on retail sales ranking within a defined market area. C. A group of stores offering similar products within a defined market area. D. A group of stores located within a geographically defined market area. B. All of these answers are correct - CORRECT ANSWER-Why would a retailer choose to use point-of-sale data instead of syndicated data? A. The retailer prefers to analyze their own data B. All of these answers are correct C. The retailer wants to complete a store-level analysis
A. Brand interaction data B. Projected loyalty data C. Spectra geodemographic data D. Projected sales units per week C. Minimize days of supply and maximize stock availability. - CORRECT ANSWER- From a retailer's perspective what is the key balance equation as it relates to inventory on shelf? A. Minimize days of supply and minimize stock availability. B. Maximize days of supply and minimize stock availability. C. Minimize days of supply and maximize stock availability. D. Maximize days of supply and maximize stock availability. C. A consumer decision tree - CORRECT ANSWER-To maximize shopper satisfaction a __________ can be used to design the shelf layout based on the shopper's needs. A. None of these answers are correct B. A shopper marketing plan C. A consumer decision tree D. A shopper insight map D. New shelf set evaluation - CORRECT ANSWER-A retailer's category management team analyzes the metrics for the new planogram versus the old planogram and continues to track results over time. What is this process called? A. Control store test evaluation B. Planogram SKU evaluation C. Inventory evaluation D. New shelf set evaluation False (shelf layout) - CORRECT ANSWER-True or false? Shelf layout decisions should rarely use shopper preference data. C. Days of supply - CORRECT ANSWER-A retailer needs to order more stock on an item because it will run out of stock in 10 days. What space management measure provides this information? A. Capacity analysis B. Number of facings C. Days of supply D. Post-reset tracking True (space) - CORRECT ANSWER-True or false? Dollar sales, unit sales, and profit are key measures that retailers can use for shelf space allocation.
True (shelf) - CORRECT ANSWER-True or false? When making a shelving recommendation change you should evaluate shopper needs and the competitive marketplace. B. A comparison can be made between an individual store's data and competing stores within the same area. - CORRECT ANSWER-Which of the following is NOT a reason to use a Retailer's store level point of sale data? A. A comparison can be made on how a specific store (or group of stores) performs compared to other stores in the chain. B. A comparison can be made between an individual store's data and competing stores within the same area. C. Store-level data can be used to "cluster" stores that have similar attributes together to analyze sales performance. D. All of these answers are correct C. Sales, profit, transactional, basket and time aggregates - CORRECT ANSWER-A retailer's POS Data typically includes which of the following measures: A. Sales, profit, consumer, and time aggregates B. Sales, profit, transactional, basket and consumer C. Sales, profit, transactional, basket and time aggregates D. Sales, basket, time aggregates, and market aggregates B. Brand B (43.7% sold on TPR is most reliant (highest % sold on TPR)) - CORRECT ANSWER-Refer to the diagram. Which brand is most reliant on TPR sales? · % sold on TPR: o Category = 39.9 (pt chg. 1.8) o Brand A = 43.6 (pt chg. 1.8) o Brand B = 43.7 (pt chg. 3.5) o Brand C = 39.7 (pt chg. 5.5) o Brand D = 43.4 (pt chg. 0.2) A. Brand D B. Brand B C. Brand C D. Brand A A. The test stores performed better than the control stores by 12 percentage points (Test stores grew by 5 points while the control stores declined by 7 points, creating a 12 - point difference in results.) - CORRECT ANSWER-Review the table that shows results of an in-store test. Which is the correct conclusion you can draw from this data? · Test Stores o Trend during pre-test = +4% o Trend during test period = +9% o Change = +5 pts
A. Year to date, the single-store trend outperformed the cluster trend B. For both the latest four-week period and year to date, the single-store trend underperformed vs the cluster trend C. Year to date, the single-store trend is nearly equal to the cluster trend D. For the latest four-week period, the single-store trend outperformed the cluster trend E. Shelf inventory - CORRECT ANSWER-Which of the following attributes is not customarily used to create store clusters? A. Consumer purchase behavior B. Shopper demographics C. Geography / location D. Store volume (units and dollars) E. Shelf inventory C. They need to determine a balance between inventory on shelf and restocking frequency. - CORRECT ANSWER-Refer to the graph. Which of the following gives the BEST considerations that retailers need to make regarding stock levels and labor on weekdays vs weekends? · Chart- Avg Hourly Unit Sales o Avg unit sales per hour weekday: way lower than weekend/ random peaks o Avg unit sales per weekend: higher than weekdays/ curve shape over random peaks A. They need to determine if they want to stock the shelves to meet peak demands (which increases inventory costs). B. They need to balance stock levels between weekdays and weekends. C. They need to determine a balance between inventory on shelf and restocking frequency. D. They need to determine if they want to stock the shelves more frequently (which increases labor requirements). C. 1189 demand index, indicating the store has a high % of households in the Mid/Upscale Suburbs with Kids relative to the market. - CORRECT ANSWER-Following is some data about the "Mid/Upscale Suburbs Age 18-34 with Kids" demographic segment for the market and for store #55: · % households in market: 0. · % households for store #55: 3. Calculate the demand index based on this information and select the best answer (including demand index and interpretation) from the answers below. A. 840 demand index, indicating the store has a low % of households in the Mid/Upscale Suburbs with Kids relative to the market. B. 1189 demand index, indicating the store has a low % of households in the Mid/Upscale Suburbs with Kids relative to the market.
C. 1189 demand index, indicating the store has a high % of households in the Mid/Upscale Suburbs with Kids relative to the market. D. 840 demand index, indicating the store has a high % of households in the Mid/Upscale Suburbs with Kids relative to the market. A. The potential to have high demand for the product - CORRECT ANSWER-Which of the following BEST describes what a product demand index measures? A. The potential to have high demand for the product B. The relative sales of the product to total store results C. The consumer measured demand for a product based on survey results D. None of these answers are correct Product demand index - CORRECT ANSWER-A ________ __________ ______provides a comparison between the % ACV sales in a specific product group within a market and the % of households within a market. This number gives insights into the differences in demographics across categories and product groupings. D. This store has a high % of Mid/Upscale Suburb households, as indicated by the high demand indices for this profile. - CORRECT ANSWER-A Demand Index allows you to find stores with a similar demographic profile at a store, category, and product demographic profile. Review the following results for store #254 and choose the best interpretation of the data: · Demand Index: o 1,189-806 for Mid/upscale suburbs o 169-164 Upscale Suburbs o 140-28 Rural Towns/farms o 100-94 Traditional Families A. This store is performing poorly relative to total region / market results, as indicated by the low demand indices across some demographic groups. B. This store has a low % of Mid/Upscale Suburbs households, as indicated by the high demand indices for this profile. C. This store has a high % of Traditional Family households, as indicated by the low demand indices for this profile. D. This store has a high % of Mid/Upscale Suburb households, as indicated by the high demand indices for this profile. D. All of these are accurate as it relates to geodemographic analysis. - CORRECT ANSWER-Which of the following is NOT accurate as it relates to geodemographic analysis? A. It helps to determine store clusters with multiple attributes. B. It helps to better understand the Consumer / Shopper. C. It requires performance data (including POS data, shipment data, 3rd party data) at a zip or postal code level.
D. 66 (Work = Sales/$1MMACV = (10,00025)100= 400 and Sales Index (400/600)x 100)) - CORRECT ANSWER-Calculate the "Sales Index" based on the following information: - Store Sales = 10,
- Store ACV $ = $25 million - Chain Sales per $MM ACV = $600 (Hint: Calculate Store Sales per $MM ACV first) A. 2500 B. 167 C. 400 D. 66 A. Consumer, Category, Company, Competition - CORRECT ANSWER-What are the four key areas (or perspectives) that should be considered in a category review (also known as the "4 C's")? A. Consumer, Category, Company, Competition B. Consumer, Category, Communications, Culture C. Category, Culture, Competition, Captaincy D. Category, Competition, Consolidation, Conversion D. Regression analysis - CORRECT ANSWER-Which of the following analytics would be least effective at identifying opportunities to grow category sales? A. Fair share analysis B. Buyer conversion analysis C. Opportunity gap analysis D. Regression analysis Regression - CORRECT ANSWER-A ________ analysis is typically done to determine the best regular or TPR price for a specific item. It would be the least effective approach to use to identify category sales growth opportunities. True (cat assess) - CORRECT ANSWER-True or false? A category assessment identifies category growth opportunities. C. All would add value to the assessment - CORRECT ANSWER-Which of the following dimensions would NOT add value in a category health assessment? A. Category tactics B. Competitive activity C. All would add value to the assessment D. Economic trends E. Category trends D. Increased purchase cycle - CORRECT ANSWER-Which of the following actions would have the least impact on growing category sales?
A. Increased transaction size B. Increased purchase frequency C. Increased penetration D. Increased purchase cycle purchase cycle - CORRECT ANSWER-If you increased the _____________ (or number of days between purchases), it could actually hurt category sales. C. Maintains focus on the correct business issues, opportunities, and questions - CORRECT ANSWER-Too much data can overwhelm the category manager unless they do which of the following? A. Maintains spending versus competitor spending B. Maintains focus on their competitor's business issues, opportunities and questions C. Maintains focus on the correct business issues, opportunities, and questions D. Maintains spending against category budget B. Turf protecting, profit generating, cash generating - CORRECT ANSWER-After developing measurable category objectives what are some examples of category strategies that can support the objectives? A. Price generating, turf protecting, promotional advertising B. Turf protecting, profit generating, cash generating C. Promotional advertising, price generation, product mobility D. SKU proliferation, turf protecting, traffic building B. False. You can still segment item level data based on common segments like size, format, subcategory, price tier, without a consumer decision tree. - CORRECT ANSWER-True or false? If you do not have access to a consumer decision tree you should not attempt to segment the data. A. True. You should not segment item-level data if you do not have a well-researched CDT. B. False. You can still segment item level data based on common segments like size, format, subcategory, price tier, without a consumer decision tree. A. Base sales are estimated product sales expected to generate during a non-promoted week. Incremental sales are product sales that would not have sold without the promotion - CORRECT ANSWER-What is the difference between base sales and incremental sales? A. Base sales are estimated product sales expected to generate during a non-promoted week. Incremental sales are product sales that would not have sold without the promotion
D. Activity based costing (ABC) - CORRECT ANSWER-Which of the following pricing terms identifies the true cost (and therefore profitability) of each activity in the sales of a product? A. Gross Margin Return on Investment (GMROI) B. None of these answers are correct C. Cost of goods sold D. Activity based costing (ABC) 6 steps of Root Cause Analytics - CORRECT ANSWER-1. Define the problem.
- Determine the reasons for the problem.
- Determine the underlying conditions that give rise to the reason for the problem.
- Design a solution.
- Implement the solution.
- Evaluate the success of the solution. D. Ground and Large (LOOK AT GROWTH % Because they are the two segments where the Retailer's growth is behind the market's growth (and therefore they are losing share). - CORRECT ANSWER-Refer to the table. In which two segments is the retailer losing the most market share? · Ground: Retailer = 8.8 (-7.0 % Growth) / Market = 58.1 (16 % Growth) · Instant: Retailer = 11.0 (-6.0 % Growth) / Market = 35.1 (-8 % Growth) Beans: Retailer = 8.3 (18 % Growth) / Market = 11.6 (-7 % Growth) · Small: Retailer = 11.7 (-7.0 % Growth) / Market = 11.6 (-11 % Growth) · Medium: Retailer = 10.8 (3.0 % Growth) / Market = 51.8 (2 % Growth) Large: Retailer = 8.2 (24.0 % Growth) / Market = 36.0 (27% Growth) A. Beans and Large B. Beans and Medium C. Ground and Medium D. Ground and Large C. All Commodity Volume, calculated by summing up the total of all category sales within a geography (market, channel, or retailer), to get a "Total ACV" number. - CORRECT ANSWER-An effective way for retailers to benchmark themselves against the market is through an "Index vs ACV" calculation. What is ACV and how is it calculated? A. All Channel Volume calculated by summing up the volume of all categories within a channel to a "Total ACV". B. None of the answers are correct. C. All Commodity Volume, calculated by summing up the total of all category sales within a geography (market, channel, or retailer), to get a "Total ACV" number.
D. All Category Volume calculated by summing up the volume of all items within a category to a "Total ACV" number. D. Display, feature, feature and display, price reduction - CORRECT ANSWER-What are the four primary merchandising conditions that can influence promotional results? A. Distribution, velocity, buy rate, frequency B. Share display, price reduction, reach C. Reach, effectiveness, feature, display D. Display, feature, feature and display, price reduction B. Retailer X is less developed (7%) in this category relative to their all sales share. - CORRECT ANSWER-Refer to the table. Which of the following interpretations is MOST correct, based on the information provided? Total All sales: · ACV Share = 24. · Share Pt = - 0. Category: · Market Share = 22. · Index vs ACV = 93 A. Retailer X is overdeveloped in the category, based on the 93 index. B. Retailer X is less developed (7%) in this category relative to their all sales share. C. Retailer X is losing share in this category. D. Retailer X is less developed than the market in this category, based on the 93 index. C. Ensure the data has all of the same measures - CORRECT ANSWER-*don't know if correct Which of the following is LEAST important when combining data resources to establish insight? A. Use the appropriate time periods for evaluation B. Consider the strengths and weaknesses of each data resource C. Ensure the data has all of the same measures D. All of these are equally important E. Use relative comparisons vs absolute comparisons B. In-store shopper research - CORRECT ANSWER-Which of the following best describes information collected by observing consumers while they shop followed by asking them a defined set of questions? A. Qualitative and quantitative research B. In-store shopper research C. Tracking studies
