A company hires a category manager to focus on the management of a specific product category. Buying the resources needed to produce a product, managing the company’s current inventory levels of the product, and working with the sales and marketing teams to promote the product and set prices are all part of managing a product. Analyzing profit margins, compiling and presenting data to management and other departments, and promoting products to customers are all part of the job description.
From the moment a product is created until it reaches the hands of a consumer, many different people and roles are involved. The success of a product is influenced public relations, advertising, inventory specialists, marketing, and retail employees. The category manager’s job is to bring all of these roles together and make them work together for the product’s and company’s success.
The category manager is in charge of contacting and managing both product buyers and vendors. His or her responsibilities include inventory and securing production supplies. His or her analysis of sales trends, competitors, and buying habitats plays a part in determining prices. Sales data is compiled and presented to management, along with suggestions for product changes and improvements.
Category managers must be aware of current sales trends and future purchasing requirements. For example, a product may experience seasonal trends or increased interest as a result of media exposure. A category manager is also in charge of product promotion, which includes store displays, packaging, and advertising. Managers collaborate with marketing to split test packages and commercials in order to increase profits and customer base. They also keep a close eye on their competitors, observing what works and what doesn’t in order to keep their own product up to date with new trends and advancements.
The majority of category managers work a standard 40-hour work week, though they may be required to work overtime to meet deadlines and manage their workload. Because managers must work with suppliers and customers in person, they may be required to travel frequently. A category manager’s day-to-day responsibilities include using customer service and people skills.