CPCM- Understanding Category Shopper Behavior Questions With Complete Solutions

•Which kind of data could you use to determine whether a particular product is gaining a loyal following among a retailer's consumers? correct answer: Household panel data •Why is it important to determine the impact of consumer brand switching on the category? correct answer: All of the above: it will help you decide whether to add, delete, and retain items; it can help you determine the importance of two similar brands in a given assortment; brand switching has an impact on category volume and sales •What type of data analysis could you use to determine what percentage of a category is purchased exclusively, and what percentage is purchased along with other items? correct answer: Market basket analysis •What is the difference between scanner data and panel data? correct answer: Scanner data provides information to understand the market and panel data provides information to understand the consumer/shopper. •While developing a list of recommended adds, deletes, and retains for a retailer, you notice that two items have similar performance in terms of sales and margin, but there's space for only one item in the assortment. How could you decide which item should be retained? correct answer: Use panel data to determine whether one of the items has a significantly higher loyalty or contributed more total