January 24, 2012

Building Business With the Right Questions!

Leverage your success with direct and good questioning of your product, promotions, category and consumer. Do not do anything just because you feel the need to perform. Build plans and actions for your product success prior to implementation.  Please find below several questions that are useful and part of my routine when examing food companies for growth.

          Product
          How viable is my product idea?
          How is my product performing by geography?
          What other products are my clients buying besides mine?
          What level of sales can I expect for my product?
          What is the right distribution channel for my product?
          Who are the right retailers for my product?
          Why are retailers de-listing our product?
          Promotion
          How did we tailor our promotion to our ideal consumer?
          How effective was my promotion?
          How does it compare to previous years or my competitors promotions?
          Why was my TPR less effective than expected?
          Category
          What major new item trends are occurring in my category?
          What new product characteristics or innovations could expand my category, drive new sales?
          Where am I losing distribution, a particular market, a retailer or a given store or stores?
          Are we offering consumers more value than others in the category?
          Do we receive a premium price point for our many benefits to the category?
          Consumer
          Who is our ideal consumer?
          How do I reach my target consumer?
          Where can I target my core consumers at the store level?
          Why are our product sales down?
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