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Dear Reader,
Welcome to your January newsletter.
As usual we have some great articles on category management, free things to download and use. Plus valuable and thought provoking tips and tools.
In this issue
Maximise return on promotions
The A-Z of Category Management
MBM Who?
This month's poll
Do you value the benefit of external support within your business?
Click here to complete the poll
Last month results
Do you believe your market data pays for itself?
Yes - 42%
No - 58%
MBM's thought, if you market data is not paying for itself at least 3 times over maybe we can help ...as it really should be!
Click here here to get an explanation on how to get a better return on investment.
More results next month!
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Are you maximising the return on Promotions?
Buyers and account managers tend to promote what they promoted last year or copy what other retailers are doing. There is rarely an objective as to what needs to be achieved and in addition the investment required and return on investment is usually unknown.
Does this sound familiar?
If it does the approach to promotional planning ultimately concludes with an ineffective promotional plan that costs money. You can help optimise your promotional planning by creating an objective for your plan. Start by asking yourself, (1) what do I want to achieve? (2) what does great promotional planning look like? and (3) set yourself a realistic time-frame to deliver it.
Click here to download the full article
Here is further food for thought...
Declining penetration? - Use traffic building promotions.
Declining AWP (frequency or trip spend) – use transaction building promotions.
Click here to download our promotions matrix
Visit our website to find out more about us.
Through our approach to category management, we always achieve outstanding results in conjunction with the teams that we are working with. A category plan is a bit like using a personal trainer at the gym. A personal trainer has experience, can guide you to achieve more in less time and keeps you going. Rather than help people get physically fitter, we help companies to get fitter categories.
Click here to download more about us
Click here to visit our website
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The A-Z of Category Management
Here's the start of our non-exhaustive A-Z of Category Management terms.
Heard a term but don't know what it means? Email us and we will explain
E - Eighty:Twenty, Pareto's rule of 80:20 suggests 80% of turnover may come from 20% of the products. Many categories adopt this principal our challenge to you is does yours, and if so what do you do differently to your 'diamond lines'?
Download our free template to help you better understand your category as well some thought provoking other uses for this rule.
F - FBI, an acronym in itself, FBI stands for Features Benefits and Incentives. Always ensure you know (F) 'what it is', (B) - 'what it does differently', (I) - 'what is means' to you (them) for any opportunity you propose.
Click here for a great example
G - Gantt chart, a great way to plan, track and express your plans within a project.
H - Hierarchy - The purchase decision hierarchy of your category is key to your decision making process. For example if 'colour' is the number 1 shopper decision, above flavour and price, then ensure your range, layout and NPD reflects this shopper requirement.
Thanks for reading!
Andy Palmer
ap@makingbusinessmatter.co.uk Join me on Linkedin
Tel: 07817 252383
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