Why You Have To Do Your Homework

 

 

 

 

Your Experience
Your Solution

Rejections, lower margins than expected. Sales were there – but competing products ran with the sales

Selling through retail is one of the toughest sales channels there is. Reactions come instantly. There is no mercy for mistakes. One word covers what you need: Preparation.

MissionRetail.com will help you to be prepared.
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Retail has time for nothing
- so sharpen YOUR nails

Competition has lowered the prices of consumer electronics and computer products to a level where retail no longer can afford a big staff at either headquarters or in their stores. The number of people handling all the necessary processes in retail is notoriously low. There is no time to really think about implementing the right short- and long-term actions. At the same time, there is a tendency to avoid risks and only choose “sure” winners.

It may sound rather daunting but you can use that fact to your advantage. If you provide the retailer with right information, you will get their attention and increase your and the retailers probability of success.

No such thing as a sure success!

Retail knows they make mistakes. You cannot be a buyer without taking chances. There is no such thing as a sure sales success in electronics/ computers unless either the vendor OR the retailer lose money. However retail does a lot to minimize loses and maximize profits. Nevertheless, products change so fast in high tech that there is little or no time to do research. If you deliver all the necessary information – you have a chance.

 

A good buyer uses a mix of research and intuition when products are bought. Even if you do everything right, you might still find the negotiations tough and that retail does not appreciate your work. Nevertheless, these days you have to do your homework and be aggressive.

Increase your chances for success

Once you make a deal with the headquarters of a retail chain, your job has just started. You can improve the chances of commercial success by following the steps at this web-site.

No matter what kind of product you have, you can improve your chances of success in retail by helping your product through all of the processes in retail.

Go knock them dead!
Jens Welling
 

The author of this article Jens Welling has worked with retail purchase, retail sales and retail marketing over the last 15+ years. Jens Welling has written a number of articles as a good source for any new and established company who want success with retail sales. Below are short descriptions and links to other articles.

Why You Have To Do Your Homework
Selling through retail is one of the toughest sales channels there is. Reactions come instantly. There is no mercy for mistakes in retail sales. One word covers what you need: Preparation. ...Read more

Choosing Sales And Distribution Channels
Make the right choices from the very beginning. Group the sales channels and start with the companies that fit your size and that do not compete head-on with each other. Use the distribution channels actively to get contacts inside the sales channels....Read more

Category Management
Learn to understand and use Category Management to your advantage and earn money....Read more

Unique Selling Points (USP)
Take the time to find out exactly WHOM your consumers are. You need to find your Unique Selling Points (USP). Once you get to know them, you'll know what to say to them!...Read more

Price Strategy
Right from the beginning, you have to be aware that On-line stores will “dump” your prices if you are not in control. Base your price strategy on your long-term goals: Where you want to sell the most products....Read more

What The Buyer Wants To Know
The buyer does NOT want a lot of information. He/she is living in a very high-paced environment and only wants your information in brief bullet points. Follow some simple rules and you will give the buyer what he needs....Read more

Exit Strategy
You must prepare your business for the anticipation risk of large quantities of products to be returned. You need an exit strategy. The returned products can be used to create new sales channels and partnerships, turning this somewhat hopeless situation into a profitable one....Read more

Price Setting
Consumers have psychologically priced a product with a certain amount that they are willing to pay (price point). If you exceed their psychological value, you risk failing in retail....Read more

Negotiation Tactics
It is obvious to focus on price as a sales factor. However, help yourself by prepare for negotiation tactics by highlighting the other Unique Selling Points (USP) - and at a minimum explain the price per performance compared to competitors....Read more

Rejection From Buyer
The buyer can reject you for several reasons. You must talk to the buyer to find out exactly WHY you got rejected.....Read more

Marketing Strategy
Selling to a retail chain often means you have to advertise in their catalogues, newspaper ads, etc.
This alone does not create a brand; you must also supplement the retail advertising with your own marketing strategy....Read more

Education Management
Your energy must focus on the stores (retail training). Face-to-face education is the most effective but also the most time-consuming and expensive....Read more

Warranties
What retail warranties are you ready for? Depending on your sales channels, you must consider the quantity of products that may be returned...Read more

Building A Brand
You must raise the consumers' awareness and perceived value of your product through brand development.
Once you do this, consumers can and will identify your product as a brand....Read more

Logistics
A high tech vendor will eventually have late delivery of products regardless of penalties. So what should a vendor do when the logistics fail?...Read more

Keeping Your Store Sales Alive
Keeping your retail store sales alive is a never-ending process....Read more

Product Development
One of the advantages to having a relationship with the sales channels is that you can discuss future product development....Read more