The first step is to come up with your product, but what about when you’re ready to begin marketing it? NJ.com has a few ideas to help you get your product on store shelves.
A Retailers’ Shelf Space Is Their Commodity
They want to know how your product will improve their profit margin for the category and ultimately their store. They want to know the turn of the product, (or demand) and the repeat purchase potential.
A Retailer Is Looking to Drive Business TO and THROUGH Their Store
They want to know what marketing plans you have for your product. It is important to talk about all advertising campaigns, Social Media Plans, Co-Op Advertising Partners, Upcoming Interviews, Articles, Blogs, Tweets, TV/Cable Promotions, Coupons, and who your customer base is. It is also a great selling tool if you can cross promote your product with an existing line or demonstrate how your product is an Add-On-Sale.
Do Not Expect The Retail Buyer to Know Everything About the Product Category
You need to come in with some facts and market research for the buyer- not too much or his eyes will glaze over. However, enough to show him that you know your business and you can help him grow this category in dollars and market share. Make sure you ask some open- ended questions and LISTEN- if he states that the Product Category for his store is weak and the competition and research shows it is strong, maintaining or growing, then the retailer needs help with product mix, merchandising, and/or price point.
Photo by D’Arcy Norman