Retail Marketing Planning
Retail marketing is challenging, and the rewards of doing it well are many. However detailed planning is essential. Many large manufacturers have entire departments assigned to this effort. There are a few key elements that every successful retail marketer understands.
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Know Where Your Product Fits In
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Retail stores are broken down into departments, and identified to the consumer by aisle headers. It is an essential first step in planning to visit the retail stores in which your product will most likely be sold. Take note of competitive products and where they are placed in the store. Study their packaging, displays, and pricing. Use this information as a guide for how to best market to the consumer. The products you see in stores have already successfully managed many hurdles to get on the shelf. While you want to set yourself apart, you should not veer from the trends you see in your product category.
Why would a consumer want to buy from you?
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If you answer this question in every element of your product, you will be successful. From the way your product is branded, advertised, packaged, and priced, you must drive the consumer to pick your brand rather than the one next to it. Keep this question in mind through your entire marketing process.
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Why would a retail buyer want your brand in their store?
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Proving to a buyer that there is a demand for your product will get you the contract. The biggest mistake that manufacturers and marketers make is meeting with store buyers before they are ready. Retail buyers will ask you the following questions: Are you advertising your product, and if so, where? You must be able to effectively answer this question. Whether you choose TV or radio spots, print advertising, web advertising, or social media outlets, be prepared to present a clear advertising plan to the buyer.
Perhaps the greatest challenge in planning retail marketing is making your product familiar to the consumer, yet distinctive enough to get noticed. Retailers like to analyze buying trends. They know what will sell and what won't. When planning your marketing, create advertising that will allow the consumer to understand what you are selling. More importantly, market your product in compelling ways. Consider using terms like "New" and "Improved" in your labels and advertising. Be concise in using phrases and words that communicate why a consumer should buy your product.
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