This document summarizes strategies for retailers to get more relevant and boost sales, including enhancing the customer experience through better visual merchandising, promotion, products offered, and salesmanship. It discusses identifying and eliminating "profit killing elements" like clutter, lack of theme, too much or too little variety. The process involves identifying these issues, analyzing them, eliminating problems, and boosting positive elements. Specific strategies presented include resetting categories and themes seasonally, showcasing brands, signage, lighting, bulk pricing, and stocking levels.
For a class project we researched and put together a marketing proposal to spread awareness of the Kohl's Big and Tall product line and increase sales. We were chosen as the overall winner and presented in front of Kohl's top executives.
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For a class project we researched and put together a marketing proposal to spread awareness of the Kohl's Big and Tall product line and increase sales. We were chosen as the overall winner and presented in front of Kohl's top executives.
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In this new live webinar, Hanapin’s Shannon Glass and Bing’s Rachel Rogowin will train you on everything from explaining what Bing Shopping is, to setting it up, to some effective optimizations that will give you the best results possible on the platform.
Ensuring a good product catalog is a necessity to improve a seller’s performance on e-marketplace. In this course you will learn how to make a good catalog.
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This is a link to my slideshare document, it is a powerpoint that I did for one of my last classes when I was a senior last fall. It is a Integrated Marketing Campaign for JC Penney, this was an AAF sponsored Ad-Team competition which would go on to be brought to life the following spring by Drury Communication Students.
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This is a link to my slideshare document, it is a powerpoint that I did for one of my last classes when I was a senior last fall. It is a Integrated Marketing Campaign for JC Penney, this was an AAF sponsored Ad-Team competition which would go on to be brought to life the following spring by Drury Communication Students.
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Developing and ManagingProductsUnrestricted• Sus.docxhcheryl1
Developing and Managing
Products
Unrestricted
• Sustain growth
• Increase revenue/profit
• Replace obsolete items
Why introduce new products?
• New-to-the-world: discontinuous innovations
• New product lines: enter an established market
• Product line additions
• Improvements or revisions
• Repositioned products: existing products
• Lower-priced products: like competition, but at
a lower price
Categories of new products
1. New product strategy
2. Idea generation
3. Idea screening
4. Business analysis
5. Development
6. Test marketing
7. Commercialization
8. New product
New product development process
• “Plan that links the new product development
process with the objectives of the:
• Marketing department
• Business unit
• Corporation”
• Should specify the role the new products will
play in the organization’s overall strategy
New product strategy
• Sources of new-product ideas
• Customers
• Employees
• Distributors
• Competitors
• Research and development
• Consultants
• Other experts
Idea generation
• Screening:
• Eliminates ideas that are inconsistent with
organizational strategy or are inappropriate for some
other reason
• Concept test:
• Test to evaluate a new-product idea, usually before
any prototype has been created
• Involves consumer reactions to product descriptions
or visual representations of the proposed new
product
Idea screening and concept test
Demand Cost
Sales Profitability
Business analysis stage
• “The stage in the product development process
in which a prototype is developed and a
marketing strategy is outlined”
• Involves:
• Prototype
• Marketing strategy
• Packaging, branding, and labeling
• Promotion, price, and distribution strategy
• Examining manufacturing feasibility
Development
• Team oriented approach
• Marketing, R&D, engineers, production, and suppliers
• Shortens process and reduces costs
Development
• Test marketing:
• “Limited introduction of a product and a marketing
program to determine the reactions of potential
customers in a market situation.”
• Alternatives to test marketing:
• Scanner-based research
• Simulated market testing
• Online test marketing
Test marketing
• Decision to market a product involves:
• Ordering production materials and equipment
• Starting production
• Building inventories
• Shipping the product to field distribution points
• Training the sales force
• Announcing the product to the trade
• Advertising to potential customers
Commercialization
Why do some products fail?
• No discernible benefit compared to existing
products
• Poor match between product features and
customer desires
• Overestimation of market size
• Incorrect targeting
• Too high or too low prices
• Inadequate distribution
Reasons for product failure
Diffusion of Innovation
Spread of new products
Complexity Compatibility Relativeadvantage
Observability Trialability
Product characteristics and rate of adoption
Product life cycles
• Hi.
This presentation by Names Crunch delves into the strategic facets of branding, providing insights on crafting a robust brand purpose, vision, and values, and navigating the complex landscape of market positioning. It emphasizes the significance of brand experience and storytelling, addresses common branding challenges, and looks ahead at future trends. The session concludes with actionable steps for attendees to refine their branding strategies and foster enduring brand identities.
A name becomes a brand when consumers associate it with a set of tangible and intangible benefits that they obtain from the product or service, It is the seller’s promise to deliver the same bundle of benefits/services consistently to buyers
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MDCE Presentaition 2015
1.
2. National Retail Specialist
Tucker Rocky & Bikers Choice
28 years in Powersports retail
13 years traveling working with Brick &
Mortar retailers
Design Retail solutions for owned
brands
Consulting and collaborating with Brick
and Mortar retailers on improving ROI
and retail relevance.
Jennifer
Robison
10. Visual
Merchandising
Elements
Also
• Story telling
• Balance
• Symmetry
• Unexpected details
Visual
Merchandising
Elements
Signage
Boosting
Lighting
Color
Traffic
Flow
DisplaysWOW Factor
Utilize
Packaging
Showcase
brands
Reset
Categories
11. 7 Profit Killing Elements
Lack of
Theme
Clutter
Random
brands
and
products
Under
Merchan
dised
Over
Merchan
dised
New
products
lost
Too much
product
variety or
too little
21. • Does the store feel stale?
• Re-evaluate the floor plan
• How does it flow?
• Does your floor plan and merchandising make you want
to see everything?
• Is your store too dark?
• Do you have what you need on hand?
• Do you have things you don’t need on hand?
• Do you have proper stocking levels of essential goods to
support vessel sales?
• Do you have new products coming for the up coming
season planned?
• Has the store been the same layout for multiple years
• Is your merchandise too light or too heavy?
• Do you have old dated fixtures, lighting, flooring, counters
& finishes
Ask your
self or
your team
23. Also
Do products you sell come from a
strong brand name?
Do you have brand displays now?
Do you use signs to direct
consumers to products and brands.
Are your brands consistent with
todays consumer wants?
66. List of TO Do’s
Themes / Storytelling
Color / to create impact
Props & Unexpected details /
Graphics
Balance / Symmetry & Scale
Focal Points & Pyramids
Vertical and Horizontal
Merchandising
67. Take always
• Rebalance the space and displays
• Fill in products that are incomplete
• Widen offerings of top sellers
• Make sure your categories are strong
• Tell stories on your end caps New /seasonal…
• Get out of dead producst
• Add new goods brands
• Do housekeeping, add lighting or change lighting
• Remove all old displays that no longer functional
or current
• Add goods to point of sale area to increase add
on sales
Review
your
space
68. Thank You!
For digital downloads of materials from this session, please visit
www.marinedealerconference.com/2015downloads
Jennifer Robison
Tucker Rocky Distributing
Jrobison@tuckerrocky.com