So you have a great product and you have defined and validated your target audience(consumer segment). How do you deliver your brand/SKU to the customer(brick & mortar/online) and make it available for your target consumers to buy? The next P, Process, covers this aspect. The sales process followed in any organisation influences execution in store …
Continue reading “Process – A newer addition to the traditional 4Ps”
This is probably the most complex of the 4 (or 6) Ps. Promotion includes all those activities that involve communicating the benefits and features of your brand/product. Through it, you let potential customers and consumers know what you are selling. In order to convince them to buy your brand, you need to explain how it solves their …
As you can tell, this is a KPI most applicable to brick & mortar stores. Where the brand/SKU can be located in a store has an outsized impact on sales. There are 3 components to this: The aisle (where on the shop floor) where your brand can be found The arrangement on shelf Share of …
Continue reading “Place/Placement – where do consumers find your brand?”
Excellence retail execution has been a focus for FMCG companies for several years now as they all concur that retail excellence results in increased sales and market share. Each company has coined its own term for this. ‘Perfect Store’ by Unilever, ‘Golden Store’ by P & G, ‘Right execution daily’ (RED) by Coca Cola and …
