The Range's magnet can be used to help manage the cable. You can stick it on the outside of your oven so you don't accidentally pull your iPhone off the counter when taking things out of the oven.
Or, loop the cable and stick Range to your fridge with the magnet when not in use.
High temperatures will demagnetize the magnet over time, so make sure you don't stick the magnet in your oven or on the grill.
If you want to keep the magnet out of the way when you don't need it, slip it into the opening in Range's plug. It will stay put until you need to use it again.