As you may have read at the end of March, Dominick’s has turned me into a Yogurt Fanatic. This is not to say I enjoy yogurt more than I had before, it’s just that now I must make a separate trip to find the brand to which I had become attached (Lifeway Kefir). It’s been about two weeks and I’ve discovered Trader Joe’s. It’s a nice place. They have kefir. They also have baked pea pods (yum). To date I’ve made two trips for kefir, spent about $60 in doing so, and have found a store with a bunch of stuff I can’t find at Dominick’s. Who Cares? Back to shelf optimization and the trade-offs you end up making. Dominick’s missed why I shop their yogurt display. They didn’t get it. I now am buying all my yogurt elsewhere, other things as well. If there are only a few of me, Dominick’s probably … Continue reading
Floor space, budget, image, key messages, partners, neighbors, product display, education… The list can go on for quite a while. All matter. All must be optimized. But the key factor to a great trade show booth is the people who are there to talk to prospects. In small booths it’s easy to make the mistake of putting a table between you and the aisle, adding a few folding chairs and creating a situation where prospects must actively try and grab your attention. Be standing, make it easy to shake hands. In larger booths its easy for personnel to gather deep inside the space, forcing prospects to walk-in and around before being greeted. Yes, the prospects that make it that far are more likely to be interested. And unfortunately yes, the marginal prospect has walked past. Booth design strategy must take into account ways to encourage your peoples’ natural ‘outgoingness.’ The … Continue reading
Until last week I was not a yogurt fanatic. Then my local Dominick’s optimized their yogurt selection. During this process I’m sure they looked at sales, product attributes, profitability and synergies. Unfortunately my milkshake-like kifer drink didn’t make the mix. The matrix they developed seems to cover every possible known and unknown yogurt need…regular, low fat, no fat, sugary, sugar free, kid flavors, cartoon characters, real fruit, mashed fruit, desert flavor, medicinal, snack…. My product didn’t make the cut. It was expensive, in a large bottle, and I’m sure low volume. And now I am a yogurt fanatic. I am making a special trip to find my old favorite, strawberry-banana Lifeway Kifer. I was so used to grabbing the familiar milk bottle shaped package, that I didn’t even know the brand name until I looked it up on the internet. What does this mean? Well for Dominick’s, I’m sure their sales in the … Continue reading
Time to think appears to be in short supply.
“You either make it or sell it.” Those are the key first players in a new business according to Michael Ferro, Jr., Chairman and CEO, Click Commerce, Inc. at the Forum –Commercializing Technology To Drive New Business Formation: The Experience of Entrepreneurs. A great insight, one relevant not only to entrepreneurs but any business developing a new category, product or business. Sales ensures a direct connection to the market you are trying to tap. Immediate feedback. Deals done. The Builder ensures a product gets made and delivered with vision & insight. For a new entrepreneurial company this provides the foundation for building. In my own experience, this provides the foundation for larger organizations to ‘go entrepreneurial,’ driving quicker decisions. Cheaper development. Cleaner concepts.