Forget Perfection – Just Worry About Good Enough

By Ben Smith So I thought I had  come up with this revelation, but apparently I’m not the only one.  The good news is that as you read this you’ll likely realize you’ve had the same thoughts too.  Type A personalities might want to stop reading now. We are in the age of “Good Enough”. [...]

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Want To Gain Big Dollar and Lots of Leverage In General At Retail? Look Closely To Find The Answer.

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This article explores pushing the boundaries of your own retail comfort level and looking at channels that aren’t necessary alternative, because they are already selling products from your category. I’ve got 2 great examples of retailers in this story – and as the title suggests – they might hold the key to big dollar and lots of leverage in general!

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Warning! Brands at Retail – Your Product Development Process Is Harmful To Your Health

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SUMMARY:

Typical 5 Step/Gate Product Development Process:
1. Discovery/Scoping
2. Building the Business Case/Plan
3. Development
4. Testing & Validation
5. Product Launch

This process has one major flaw if you are a brand whose business case is primarily built on accessing the consumer through the world of retail – the retailer is predisposed to prefer a private label solution …

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What Is The Retail Blue Ocean Sales Strategy?

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SUMMARY:
I don’t know if I’m suggesting something as radical as the authors of the book “Blue Ocean Strategy” would suggest – I’m merely advocating you change the channel by looking beyond your existing business. That being said, pursuing new channels does have some similarities to the core philosophies shared in “Blue Ocean Strategy”. Think about your existing retail channels in context of the Red Ocean Strategy below, and then look at the Blue Ocean Strategy. It makes a Blue Ocean Strategy in retail seem worth a shot.

Key Benefits To Pursuing An “Alternative Channel” Strategy:

1) If you successfully develop new customers, you lessen your dependance on existing customers
2) Experience serves as a “Learning Lab” where you can test new ideas & apply learnings in your existing channels
3) Opportunity to create new demand for your product by positioning it for specific applications / uses
4) Growing sales in new channels may help lesson impact of seasonality in your existing channels
5) Buyers / merchants tend to stay within the retail industry – your new friends may pop up in your existing channels down the road.

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Why You Should Buy Billboards In Bentonville

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SUMMARY:

1) Lose your “Delusions of Brandeur” when dealing with retailers. Your target consumer is the retailer’s customer.

2) You exert all this influence to get the product in, but once it’s in, there are results to be measured by. Your opportunities to influence decrease.

3) Buyers are consumers also
I would argue that some merchants even go so far as using exposure or lack of exposure to a particular marketing campaign helps them to justify a decision they made in the past. When the buyer gets exposed to the marketing vehicles regularly in their personal life, this makes them feel that that they might be missing out on if they chose to not assort or promote that particular product. “Am I missing out on an opportunity here?” Or better yet, “is all this marketing going to drive customers to my competitor down the street that is listing that product?” (conversely if they see marketing and earlier chose to promote the product, this probably helps justify their decision).

4) Why you should buy Billboards in Bentonville

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Walmart and Best Buy Place Their Bets and Position Themselves For Their Next Battle

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SUMMARY:
It started with Tivo’s announcement of a marketing partnership with Best Buy last July, and gained steam with Walmart’s recent acquisition of VuDu, and escalates with Tivo’s new big news on March 2nd. The next big battle in Consumer Electronics and TV’s is coming closer.

The reason I share this article with you is that you don’t have to be selling TVs or set top boxes to walk away with ideas that you can apply in your own brand/business.

HOW CAN YOU ADVANTAGE A PARTICULAR RETAILER?

The key lesson here in the pursuit of Retail Leverage is to ask (and answer) the question – “How can I advantage a particular retailer versus their competition?” Get over the battle you are fighting against other brands – THE RETAILER DOESN’T CARE. The real story is the retailers fight against each other.

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STAINMASTER Carpet Goes Wall-to-Wall at Lowe’s

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While the STAINMASTER brand has considerable equity in the home furnishings and flooring industries, the team at INVISTA was able to gain distribution at the world’s second largest DIY/Hardware chain by thinking like a challenger brand and adopting two key strategies to gain Retail Leverage.

Retail Leverage Principle #1: Bring Pent-up Demand to Stores
Retail Leverage Principle #2: Offer Product or Program Exclusivity

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Retail Leverage Tribe Has Spoken – Our Ideas For Garmin

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SUMMARY:

Last week we asked “How Can Retail Leverage Help Garmin?” We didn’t pretend to have the answer, but we did share lots of background on their current situation. We asked our readers to share any ideas/thoughts they had regarding Garmin’s dilemma and we were ecstatic with the response. Combine that with some “new” news from Garmin in the last couple of weeks, and it begs an update.

RETAIL LEVERAGE WEIGHS IN:
With the luxury of seeing these great ideas roll in from our community, @retailleverage has the benefit and privilege of building on the ideas that were shared …

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Implications For Marketers From Walmart Sku Reductions

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In order to effectively compete, challenger brands must learn to package innovative product offerings together with marketing programs designed to represent at least one of the following four forms of retailer financial growth:

FOUR WAYS TO OFFER RETAILERS FINANCIAL GROWTH:
1. Increase overall category demand
2. Increase the attach-rate of high-value complimentary items
3. Motivate a “trade-up” within the category
4. Help a given retailer win the war against another retailer

The most difficult thing for brands like Glad and Hefty is viewing themselves as challenger brands when their histories have been more reflective of the rare “power” brand.

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How Can Retail Leverage Help Garmin?

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SUMMARY:

EVEN GARMIN CAN FEEL LOST:

Who wants to be the first to admit they don’t have the answer to a problem? What do you do when your product is becoming a commodity, and even worse, when others start giving it away for free?

Garmin, the maker of GPS systems, is getting hit with this double-whammy. The majority of their problems center on their Automotive/Mobile business segment, which includes the main product that comes to mind for Garmin, the portable GPS for your car. Just as Tivo has watched the cable / satellite companies erode their share with generic DVR’s, smart phones are poised to erode the stand-alone portable GPS business.

WHERE DOES GARMIN GO FROM HERE?

The central question for Retail Leverage and our readers is “What can Garmin do to gain Retail Leverage with its nüvifone line?”

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