The Heinzeroth Blog

Back in the “olden days” the consumer purchase journey was pretty cut and dried. You went to a local brick and mortar store, shopped the brands and their respective assortments on the shelves and made a purchase. If you didn’t see what you were looking for, you drove to or called other stores until you found it. Competitive brands “differentiated” their products through shelf placement, pricing strategies and point of purchase materials. National TV ads, print ads, newspapers and circulars also educated consumers about product choices and available brands. Word of mouth recommendations from family and friends were the key trusted sources of product reviews. Special order catalogs were also in circulation and presented additional options for product purchases.

What do different customer groups think of your brand or products? How loyal are they? Do they like your brand enough to recommend it to their friends or colleagues? For a marketing/communications manager, these are important things to know about your customer base.

MORE PLANNING IDEAS FOR SUCCESS IN PRODUCT LINE REVIEWS:

Considering the wide range of point-of-sale tracking tools available to help you prepare for your next Product Line Review (PLR), you may be missing the boat if you aren't equipped to address the metrics your merchant is most concerned about. Chances are, you may otherwise be inclined to go  over things that many buyers consider to be a waste of time. And even if you are bringing loads of information, perhaps it isn't presented in the way your buyer wants to view the figures. To help you plan for your next presentation, here are some thought starters you might keep in mind.

 

In Part 1 of this blog post, we discussed why it’s time to start marketing home improvement products to millennials. This post is dedicated to exploring how we can effectively reach this important audience with media, messaging and merchandising strategies that build relationships and, ultimately, drive sales.

Millennials (adults 20 to 34) represent a massive consumer audience with growing economic might. They are 74 million strong, accounting for 25% of the U.S. population and representing $170 billion in spending power. They grew up in a time when there has always been an internet, so their on-demand access to information and social networking has formed who they are as human beings and consumers. They represent the future of our industry… a world where marketing is a two-way ongoing dialog and the consumer has equal weight in the equation. 

Preparing for a product line review (PLR) with a major retailer can be a challenging process. In the early stages of planning, it's normally best to follow the outline of topics your buyer has provided in advance of the meeting. Still, if that outline is rather sparse, or you suspect there will be other important issues discussed, it's always good practice to have your bases covered if the meeting takes off in a completely different direction. Perhaps these ideas will help you do a pre-flight check.

We often hear that our clients' retail buyers begin a product line review meeting with challenge statements, focusing on price and other issues that can cast a bit of gloom before you've had a chance to present your new products and merchandising. To steer the meeting your way and capture/hold the buyer's attention from the onset, it is important to frame your presentation with research.

As unsettling as it may seem, the instant access that consumers now have to product reviews and pricing comparisons can represent some new opportunities to outmaneuver your competitors and kick start a new era of sustainable growth. Here are some tips for getting to the next level in a changing consumer marketplace.