As a Category Manager or a National Account Manager for a supplier to one of the big four UK supermarkets, you’ll constantly be reviewing your market data to understand how the retailer is performing 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 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 decade of working with suppliers to the big four UK supermarkets we have learnt the importance of helping our clients keep their eye on the big prizes.
Using this piece of our intellectual property – ‘The Fair Share Tool‘ – You too can find out the fair share for your category and your sub categories by identifying what has been achieved in the past. This tool has been inspired by working with McDonald’s because 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.