BUSINESS SESSION 1:
SAN DIEGO — “Niche manufacturers are an important part of NACDS Marketplace, but these smaller companies typically are new to the industry and have a great deal to learn when it comes to successfully bringing their products to market.
Looking to help inform these fledgling companies on the critical role of a sales and marketing consultant, a panel comprised of representatives, suppliers and one retailer gathered for an insightful discussion at NACDS Marketplace:”
“It is estimated that each year more than 30,000 new items are introduced into the packaged goods world. But the reality is that many of these items do not achieve success due to a lack of understanding of the commercialization process.”
“A manufacturer may come up with a great product, but if it’s not prepared and doesn’t have a sufficient marketing plan in place, the product is likely to never see the light of the shelf.”
“Smaller manufacturers aren’t the only ones facing hurdles. Fearful of being stuck with a surplus of product they can’t sell, retailers are growing increasingly cautious about whom they do business with and what they will demand of prospective clients.”
“We expect manufacturers to be involved every step of the way,” said panelist Tracy Blais, divisional merchandise manager of consumer health care for CVS Caremark. This is why it is becoming increasingly important that niche players work with a sales and marketing consultant.”
“Many small start-ups have an entrepreneurial spirit, but things may get harder and we are there to help you. Treat the consultant like a member of your team.”