Can you create effective pricing strategies if you don’t know who your consumer is and how they behave? Not really.
The first step toward better understanding your consumer is to identify your buyer personas. Consumers evolve and, if you know …
In-Store Audits vs. Focus Groups: Which One to Choose?
Related:
- 8 Simple Tactics to Increase Market Basket Size
- How Consumers Compare Prices to Make Purchase Decisions
- How Buy One, Get One Can Improve Your Sales
What’s in your tool kit for capturing consumer insights? Odds are, the methods at …
July 20, 2021
A Quick Checklist to Launch a New Product Into the Market
Today, launching a new product on the market is much more difficult than in the past. Having a good product at a good price no longer works alone, and product development teams have to coordinate with many other departments before …
July 15, 2021
Route Optimization: How Merchandising Teams Can Solve These 5 Challenges
How efficient are your field teams on a daily, weekly, or monthly basis? If you’re like most brands, the answer is “not very.” And that’s OK—we’re not here to judge. But we are here to help you get more confident …
July 13, 2021
How to Implement a Pricing Strategy Based on Demand
The law of supply and demand has been the mainstay of economics since the beginning of human history, even before money existed.
It is pure logic. If something becomes necessary, it is more important, and, therefore, we are willing to …
July 8, 2021
The Impact of Smart Shelves On Your Pricing Strategies
It’s a bit of an understatement to say that technology has changed retail. In reality, technology has created nothing short of a revolution, from the big stuff like eCommerce to smaller, now-common trends like self-checkouts and buy online, pick up …
July 6, 2021
13 Strategies to Set the Price of a Product
Need to set the price of a product or service? No matter what you’re pricing, you’ll face a handful of similar challenges.
For starters, you need to find the balance between margins that allows for continued growth and addresses market …
July 1, 2021
5 Data Points You Should Have About Your Store Presence—But Are Probably Missing
Do you know what’s going on with your brand inside every store you’re in? Alright, in fairness that’s a tough question for anyone. How about this—do you know what’s going in inside the stores that have the biggest impact on …
June 29, 2021
The Magic of Psychological Pricing
Buying is not a simple transaction. It is an emotional process in which the consumer creates a connection with a product or a brand.
We tend to relate emotions to the heart, but don’t forget that what really rules our …
June 24, 2021