It depends on your strategy. Is it more important to have a high penny profit on select items or is it more important to have a long-term business building strategy that brings loyal customers into your store, and keeps them coming back? All products are not created equal. Private label products have a place on [...]
SECRETS 019 Promotional Effectiveness – the the rocket fuel to get your products into the hands of more shoppers!
Today’s topic is promotions, the benefits and the pitfalls to avoid. I’ll focus on the issues plaguing brands in the beginning and follow up with the strategies brands can use to maximize their promotional effectiveness which translates to more loyal raving brand evangelists buying your products. Promotions are the fuel for your brand. When [...]
Do you know the value of your promotions and whether they are reaching their intended target consumers? Most every CPG company runs promotions but are they always effective? Most are not! CPG manufacturers run promotions to increase brand awareness, increase foot traffic, support retailers, drive sales, reward loyal customers, and to load consumer’s pantries (pantry loading [...]
Don't let fears about promotion pricing, distribution, and merchandising keep you up at night. Follow these four simple solutions to maximize every selling opportunity. Have you ever agonized over a decision only to make the wrong choice? Have you ever wanted to undo a business mistake? Have you ever wished for a "do over"? [...]
I’ve had the privilege of working with hundreds of brands in all stages of development - from start up to well-established national brands. Rarely do I work with brands that have a clear grasp of the true costs associated with their product. This is critically important because it impacts your profits, retailer margins, product [...]
An effective pricing strategy can be the difference between being perceived as a market leader or follower. The wrong strategy can strip margin and make it difficult for retailers to survive and it can even push consumers away encouraging them to shop the competition. Like the story “The Three Bears,” consumers will shop a [...]