CMA Certification - CPCA EXAM Questions With Complete Solutions

CMA Certification - CPCA EXAM Questions With Complete Solutions Which of the following statements describes a product that is incremental? - answerA product that adds variety of choice relative to other existing products Basic Industry Knowledge - answer which of the following is not a specific trend in category management - answerindustry consolidation what is in store merchandising materials used to catch shoppers attention - answerPOP When looking at channel dynamics which one of these statements best describes the grocery channel? - answergrocery stores have higher operating expenses creating higher overhead resulting in tighter margins and higher prices which of the following best represents the primary concerns driving shopper purchase decisions - answerquality, value, convenience which one of the following best reflects the tactics of limited assortment stores - answerlimited SKU counts low prices limited service small store footprint which of the following best represents two trends that grocers need to consider with their instore strategies - answerchanges in health and wellness preferences What dynamic is occurring within the value channel? - answerthis channel is appealing to higher income level shoppers which of the following best describes why channel blurring is occurring in our industry - answerall of the above: increasing growth of alternative store formats, increased competition for consumer spending, items carried beyond the typical assortment with a channel, consumer demand for convenience which one of these statements best represents an attribute of a club store - answerclub stores tend to have less operating expenses and less overhead so prices are generally lower on average, how many different channels do shoppers shop in today - answermost shoppers will shop across 5 or more channels to purchase the products and services they need what is the difference between EDLP and High/Low - answerEDLP offers shoppers everyday low prices on all items whereas High/Low offers higher everyday prices and selectively promotes items at lower prices through weekly promotions Base volume is additional sales beyond what is expected due to promotional activity - answerNO when looking at the grocery channel dynamics which one of these statements best describe the grocery channel - answergrocery stores typically have higher operating expenses creating higher overhead for the retailer resulting in tighter margins and/or higher prices the grocery industry is basically recession-proof therefore in difficult economic times shelf planning strategy wont work - answerFALSE Dollar Stores have begun to appeal to more upscale families. Why is this happening? - answerlow prices on certain items are important to some upscale families which of the following best describes 3 in-store retail factors affected by SKU proliferation - answervariety, placement, space ACV - answertotal sales volume reported for a store or group of stores base sales - answerproduct sales that would occur in the absence of any promotion consumer - answerend-user of a product DOS - answeraverage number of days current inventory will last DSD - answermanufacturer delivers products directly to retail stores, back door Facing - answercount or linear space a single product occupies incremental - answeradditional sales beyond what is expected due to promotional activity KPI - answerone of the key metrics used to scorecard performance OOS - answerproduct is unavailable at the shelf or point of purchase POG - answershelf schematic showing the position of every product Shopper - answerperson who buys the product which of the following pricing strategies is walmart's primary go to strategy - answerEDLP which of the following is an effect that changing consumer demographics are having on retailers - answer(not shelf plans are expanding, not shopper marketing is increasingly important) History & Process - answer Which of the following best describes the original ECR definition of category management - answera collaborative process designed to better manage categories as strategic business units and provide enhanced business results focusing on delivering shopper and consumer value which of the following best defines what a "category" is - answera distinctly measurable and manageable grouping of products that are interrelated and substitutable The original Category Management Process published by the ECR sub-committee has how many process steps? - answer8 describe the original ECR category management process by dragging the appropriate process steps - answercategory definition category role category assessment category scorecard category strategies category tactics plan implementation category review brian harris/ ECR Model: Win Weber model: Both: - answerdestination, routine, convenience basic, priority, fill-in, and signature seasonal/occasional what are outcomes of the category management process, which can positively impact retailer performance - answereffective space management, improved shopper understanding, improved pricing and promotional plans Which of the following best describes the focal point of category management? - answerthe shopper what are the four components of SWOT - answerstrengths, weaknesses, opportunities, threats