Achieving fair market share is an absolute target. As a Category Manager or a National Account Manager for a supplier, you’ll constantly be reviewing your market data. You want to understand how the retailer is performing. This is so that you can keep them informed, to defend any performance issues and also be ready to explain the growth that you have possibly achieved.
Unfortunately, this can often mean that we cannot see the ‘wood for the trees’. We may miss the big opportunities in the category because we don’t know the answer to the main question:
‘Is your category achieving its fair market share?’.
Image courtesy of our cartoonist friend Mike Flanagan
On our Category Management training course, we share with our Learners the importance of keeping ‘fair share’ in mind and not just getting caught up in the month by month changes of the data. Over the last 17 years working with suppliers we have learnt the importance of helping our clients keep their eye on the big prizes.
Fair Share Tool
Using this piece of our intellectual property – ‘The Fair Share Tool‘ – You too can find out the fair share for your category and your subcategories by identifying what has been achieved in the past. Working with McDonald’s inspired us to develop this tool. Each restaurant knows its highest takings per hour, per day, per week, per month and per quarter. McDonald’s thinking is that if you can achieve it once, you can achieve it again. We have applied this philosophy to category management and made it easy for you to identify your best market share, and the value of achieving your best market share again.
For further information, you can find our Ultimate Guide to Category Management here.
How did the fair share tool work for you? Please share your view by commenting below.
For further tips and information, you can take a look at our Ultimate Guide to Category Management and our Category Management YouTube Channel. Also, check out our award-winning blog to see more Category Management tips and articles.