“Anyone who launches new products will immediately appreciate the power of this resource to influence design direction, target appropriate price points, and select materials with high consumer appeal. What I love most is that it facilitates open and powerful discussions across the marketing, design and business teams. It minimizes reliance on “the gut feel” of just one individual in an organization and helps create a unified vision for success.”
Are your retail pitches one size fits all?
Do your product presentations to retailers present your partners with exclusive product opportunities? Are you able to say “We developed and tested this product for your customers Mr. Retailer. Here’s the research that shows your customers want this product in your stores.”
Are you still pitching your products based only on their price and features (and compromising on cost to get buy-in) or are you controlling the conversation by pitching your products based on consumers’ demand for them? If you are not supporting your case with facts and figures based on consumer research, you should know that your competitors are and you are suffering by comparison, even if you don’t know it. Read on for a situation in which our client did just this…
Our client is a housewares brand. They are not the largest brand in their category and they are not the largest brand in most key retailers. As such, they know they have to fight for space for their new products. They’ve been doing their homework, developing and testing products with consumer input. They used to just test products as if the whole country were one homogeneous group all of whom would like their products. In our research we showed our client how preference for their products varies by age, income, household size and region. We also screened our sample for willingness to purchase the category in certain key retailers. By cross-tabbing the retailers’ consumer groups with their product preferences, we were able to identify the top products that should be offered to all retailers and also, niche products liked by specific retailers’ customers. Thus, providing those retailers with perfect exclusive product opportunities. Is there anything that makes a retailer happier than getting an exclusive? Is there any better way to lower a retailer’s objections than to share the facts and figures that show you’ve done your homework and are confident that you have the right products for their shoppers?
Call us today to learn more about leveraging consumer research not only to develop the most consumer-desired products but also to deliver pitch-perfect presentations to your retail partners.