CPCA- Assortment analysis Exam Questions With 100% Correct Answers
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Course
CPCA
Institution
CPCA
CPCA- Assortment analysis Exam Questions
With 100% Correct Answers
• Which of the following statements describes a product that is incremental? - answerA
product that adds variety of choice relative to other existing products
• Specialty retailers typically offer a limited selection of prod...
CPCA - Assortment analysis Exam Questions With 100% Correct Answers • Which of the following statements describes a product that is incremental? - answer✔✔A product that adds variety of choice relative to other existing pro ducts • Specialty retailers typically offer a limited selection of product lines with a broad number of items in each. This is an example of what type of assortment strategy? - answer✔✔Narrow and Deep • Market coverage analysis typically determines the cut off point by which one of the following metrics? - answer✔✔Cumulative share of sales with the comparison market • In order to identify potential product additions to a retailer's current assortment, the "market coverage" approach compares - answer✔✔Items s elling well in the market, but not carried at the retailer • Which of the following best describes how to correctly read a pareto chart? - answer✔✔SKU's are listed in descending order (left to right) based on their individual contribution to sales • Assort ment analysis should always include TWO Pareto charts - one for the overall market and another for the retail store or chain because it is not possible to plot both geographies on the same chart - answer✔✔FALSE • To develop a list of recommended deletes for a retail store, which of these actions should you take? Pick two - answer✔✔Analyze the store's scan or POS data (identify low -performing items), and Analyze market data (identify items that have already been dropped by other retailers) • What is efficient assortment? - answer✔✔All of the above: a key component of the industry's ECR initiative, a fact -based approach for identifying optimal product assortment, a disciplined process for eliminating product inefficiencies • What is SKU rationalization? - answe r✔✔It is the process of identifying poor performance items that should be deleted from the product assortment to improve category sales • Which of the following is a "concentrated" market coverage strategy? - answer✔✔Operate in one or only a few segments o f the larger market, following a niche strategy with one brand
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