Market research has always been the key to developing a successful marketing strategy. The importance of good market research doesn't end here. For your products and services to be well-accepted by your consumers, you must know the choices and preferences of your target audience. Market research gives you crucial information about your competitors and current [...]
One of the most effective and engaging marketing strategies is the endcaps displayed at a brick-and-mortar store. Endcaps help the brand to stand out and be seen amidst the chaos of in-store shopping. It has been observed that having retail endcaps in the store allows the customers to understand the brand and its product in [...]
A good beat strategy is one of the most critical parts of FMCG sales and distribution management for the plain reason being that it prevents wastage of time and effort. Clearly defined territories guarantee that field executives do not overlap and focus on their outlets and produce business, which is the organization's ultimate goal. This [...]
Retail and business owners often tend to believe that customer purchases are random; and that various products appeal to specific customers, leading to a purchase. This belief leads to many misconceptions, even when it comes to identifying a suitable approach for product and service marketing. What often happens is, buyers go through a specific series [...]
Retailers practice merchandising in India by employing dynamic and innovative techniques, promoting products and driving sales. All visual merchandising strategies focus on enhancing the appearance of retail displays to grab the customers' attention. Wherein the ultimate goal of the product display strategy is conversion. For example, at clothing stores, merchandise is displayed in a manner [...]
Have you ever noticed customers walk into your retail store, take a look at some products, and then walk right out? Alas! The store's conversion rate just dropped down. That's a sign for a retail promoter to scale up and boost the effectiveness of any sale strategy! You can now solve your low conversion rate [...]
Product display is a concept that has gained a lot of importance in today's era! A product or merchandise display is a distinctive presentation of a store's products meant to attract and even entice customers. Of course, the nature of these displays will differ depending on the industry. Still, all merchandise displays will be based [...]
Introduction Every market system operates on certain pricing strategies which the retailers are bound to follow. These strategies set definite guidelines and price limits for the products and services sold so that the retailers do not sell them below or beyond the prescribed level. These include MOP, SRP, or MRP. Therefore, it is imperative to [...]
Stock audits are an essential tool to monitor the performance of your retail organization. The practice is akin to a 360° appraisal regarding the effectiveness of your retail operations in generating sales. Stock auditing involves evaluating everything from your inventory management system, ensuring that you are neither overstocked nor understocked. It also involves assessing the [...]
Everyone in the economy uses fast Moving Consumer Goods (FMCG) products. Being smartly priced and packaged, they offer great convenience to the consumers. The critical factor here is the ability to go to your neighbourhood store and purchase the product of your choice. To ensure that this process runs smoothly, FMCG companies must have an [...]
