Your marketing plan should be a clear, concise and well thought out document that guides you through your marketing program. It should focus on the objective of your marketing and how you intend to accomplish that objective. Whether your company provides products or services, your marketing plan is essential for success. The six major elements of a marketing plan [...]
Do I need a business plan even if I’m not seeking financing? All businesses need to know where they’re going and how they’ll get there in order to succeed. Creating a business plan forces you to set goals, determine the resources you will need and prepare for problems that might otherwise broadside you. If your [...]
The Product In this age of SKU-rationalization, it’s critical your product has a defined market need, point of differentiation and good timing. The Right People The CPG retail industry is complex and unforgiving, with hundreds of hidden details and nuances. Experience PAYS! The Right Appointments Retailers operate with specific category planning calendars. It’s critical to [...]
If your broker can be at a meeting with an account he or she has a relationship with, take him or her with you! Don’t ask buyers, “Where are you located and how many stores do you have?” This indicates you have not done your homework and don’t know the industry. You lose credibility at the [...]
Your brand must sustain the company’s or store’s image. Store brands should be viewed as more than margin boosters and serve as reinstatement of the store’s identification. It’s important to note that true value-oriented brands build customer loyalty, even through economic downturns and recoveries. The quality of the merchandise should be communicated effectively—not understated nor overstated! [...]
Failing to do proper due diligence on the viability of your business idea. Miscalculating market size, timing, ease of entry and potential market share. Underestimating financial requirements and timing. Hiring for convenience, rather than skill requirements. Caution: Friends and relatives might be less expensive, but they probably do not have the right expertise to help you [...]
While these tips are great, this list is NOT exhaustive. Before using these tips call us for a consultation, which will provide the full picture and scope. The following questions and tips are a great starting point: Who will actually be making the sales calls on my behalf at the appointments? Important to get a [...]
True or false? The best way to identify the right broker is to ask the buyer for a recommendation. Hire the “hungriest” broker you can find that is in need of more lines to carry. Show your presentation to several brokers in the market before hiring one. Only hire a broker that aggressively asked to [...]
