CMA Exam question And Answers 2024 A+

CMA EXAM QUESTION AND ANSWERS 2024 A+ True or False. Category Management is only possible if you have a full suite of data and automated tools to work with. - ANS False - You can do category management - just less sophisticated - with limited data & technology Match up each component to their best description: 1. Category Assessment 2. Category Tactics 3. Category Scorecard 4. Category Strategies - ANS 1. Uncovers the biggest areas of opportunity for the retailer. 2. Creates action in the category and can have significant impact on sales and profits. 3. Tracks how the retailer is doing vs. category goals and targets. 4. Defines differentiated purposes for categories in the store. What are the 4 prerequisites for category management? - ANS Data, Organizational Alignment, Collaborative Approach, Technical Tools/Automation Which of the following statements regarding allocation of resources to categories is most accurate? - ANS Retailers should allocate resources to the category based on the category's overall importance to the store and to their shoppers. Consideration for which perspective will give you the winning formula in category management? - ANS All 3 of these perspectives are important for a winning formula (Consumer, Retailer, Vendor) There are several roles that retails may ask their vendors to participate in. _________ or Vendor Advisors may be responsible for providing labor assistance and helping them grow the category for the retailer. _________ or Validators refer to vendors that a retailer selects to provide supplemental data, resources, analytics, ideas, (and often a second opinion). This results in a team capable of producing enough business analysis and tactical programs to make the category management process succeed for the retailer. - ANS Category Captains, Category Advisors Which of the following answers presents the original category management 8-step process defined by the joint industry in the correct sequence? - ANS 1. Category Definition 2. Category Role 3. Category Assessment 4. Category Scorecard 5. Category Strategies 6. Category Tactics 7. Plan Implementation 8. Category Review Following are components of the category plan. Which element is where a retailer's opportunity gaps are determined? - ANS Market and Category Assessment "To attract customer traffic down the aisle", "to increase impulse purchases", and "to turf protect" are examples of what? - ANS Category Strategies In which retail channel is category management practiced? - ANS All of these answers are correct (Online, Drug, Mass + Club, Grocery) In which of the following retailer strategy examples can only one retailer really "own" the strategy with the consumer within a market? - ANS Cheapest Price True or False. Retailers may have more than one type of store format so that they can attract different types of shoppers to each the different formats. - ANS True Retailer X focuses their strategies on their very important customer. Their fresh areas like deli, meats, and products have a wide assortment of products, and they have a carryout service and in-store childcare. They maintain consistent pricing slightly above market price. What would their overall strategy most likely be? - ANS Great shopping experience and/or easiest to shop