Note: While representative of possible situations faced by Alikay Naturals, all scenarios in this assignment are fictional.
Let’s roll up our sleeves and use what we’ve learned this week in a real-life business situation. Each week, you’ll encounter a scenario where you will assume the role of a business person at or who works at a national discount retail store, like a Walmart or Target. These companies provide important, everyday staples for millions of people across the country and have become very successful businesses in the process.
Discount retail stores have locations in communities across the country. They often have strong and recognizable brands that are household names. We will explore how business works throughout this course by taking on a few of the many different roles at successful companies like these.
This week, you’ll assume the role of a Category Manager for the Beauty Products category at a national discount retail store.
WHAT IS A CATEGORY MANAGER?
Category Managers are responsible for related groups of products (for example, baseball equipment or laundry detergents) for a retail business. They use research, information and insights about the category to change shopper behavior and increase sales of the products in the category. They also work with the suppliers of the products in their category to ensure that good products and services are available to customers.
As a Category Manager, part of your role is to analyze data and information about how well a product is selling to help the maker of that product improve the product and consider introducing new products. Rochelle and her team at Alikay Naturals have asked you, the Beauty Products Category Manager, to review one of their products and determine where it lies in the product life cycle. Additionally, they have asked you to recommend ways to improve the product in order to increase sales.
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Step 1: Product Life Cycle
Read the Product Report for Alikay Naturals Moisturizing Black Soap Shampoo. The Product Report contains important information that will help you to identify where the product stands in the Product Life Cycle and give you clues about what changes customers might like to see. Respond to Rochelle and her team at Alikay Naturals based on the information in the Product Report.
Step 4: Production Methods
Based on your understanding of Alikay’s position in the product life cycle and expected sales volume: