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Getting It Right. - expert opinion on Marketing and Brand awareness |
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The market place is changing. Consumers are demanding more, spending less money, and turning increasingly towards the internet for their few and far between purchases. |
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| Author: The White Room |
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However, SMEs need to realise that in today’s market they are holding the advantage. They have the scruff of larger retailers by the neck and, if all the cards are played correctly, can begin to move towards the cliff over which they can release their grip.
A number of factors need to work together to create a successful retailer. From product innovation, marketing, store layout and employee training, each factor involved in creating a shop needs to be understood and carefully considered by the retailer. Missing one part out could be the difference between seeing a customer return, and forcing them one step closer towards your competitor.
By following the guide below, which includes help and advice from some of the UK’s experts in each arena, you could ensure that spring/summer 2006 is the season that put a definite spring in your step. PRODUCT INNOVATION 2006 consumers are after something different. Not the same style in a different colour, but a design that will stop passers-by in their tracks: a conversation starter that offers unique craftsmanship and unequalled vale for money. And smaller retailers are the prime contenders to provide this service. The chains are off for SME’s - restraints that large retailers have to cope with are non-existant and small retailers are in the perfect position to take a very effective advantage.
MARKETING “Marketing is a key corporate tool for creating a sustainable and competitive advantage,” comments Colin Long, Managing Director at The White Room. “All too often, we have seen companies create the wrong sort of campaigns which then prove to be costly, time consuming and can have a negative response. In a changing difficult market, companies must recognise and identify what the customer wants and needs and not just for the wants and needs of the company itself. All marketing activities should strive towards this profitably.
Fundamentally, the value in the exchange process between the consumer and a company is reciprocal, leading to customer satisfaction and future purchases stimulated by an effective marketing mix of price, product, promotion and place.
“Companies need to look more at their target audiences and define clear objectives,” continues Colin. “Through an integrated marketing communications strategy, the sales promotion should work within a short-term plan. Depending on the cost, target audience and objectives, the most appropriate sales promotion techniques can be determined.
Based on our experience, timing, duration and intensity of the promotion are all key factors that need to be established and evaluated. We have, for example, found that blanket advertising is not the most cost effective technique because there is no specific target consumer. Generally, there is continuous innovation in the home furnishings industry.
Successful companies of all sizes introduce products that appeal to rapidly evolving tastes in the UK market place. Therefore, even the best designed furnishings need to be promoted correctly or they will inevitably fail. A key essence of ensuring products are launched successfully is working with the right people. The home furnishings market is huge and holds a fairly complex target audience which has an effect on which channels to use.
Today, vertical marketing systems are used for long term efficient and effective solutions, whereby the retailer controls the manufacture of the goods sold, and factories manufacture solely or almost entirely for one retail outlet. The potential of the company and its objectives need to be evaluated when selecting the right media distribution channel.
“PR works particularly well because of the journalist endorsement and it can be targeted to a specific audience that matches your customer profile. We have found that photography and corporate branding are also important factors when marketing a product, whether it is for PR, POS or brochures. Different styles of photography need to be used to create the appropriate image for your product, image and media choice. There needs to be a balance between customer service levels and the allocated budget. This can be achieved through planning, research and by experimentation.”
"STORE LAYOUT Although considered one of the easiest tasks when creating a retail environment, the first impact your business will have on a customer is through your retail environment. This makes it one of the most important factors you should consider and reconsider with every season and every change in product direction.
CORPORATE BRANDING “We find that when we need to undertake corporate branding for a client, it is important to benefit the consumer, manufacturer and the retailer,” explains Colin from The White Room. For the consumer, a branded product is easier to identify through stimulated brand awareness generating immediate interest in the product, identifying its place in the market whilst communicating the product features and minimising the risk in purchasing. “As part of a marketing campaign, we tend to develop corporate identity’s for our clients that are flexible enough to be used in POS, brochure design and websites which are useful marketing methods for making a company’s products and services tangible.
Corporate branding helps the manufacturer to target the customer whilst gaining customer loyalty and benefit from premium pricing, an increase in power over the retailer and maintain a competitive advantage. The retailer will attract more customers and benefit from the brand marketing support.”
About Author
The White Room is a specialist Integrated PR & Marketing agency based in Kent with over 25 years experience. To find out more visit http://www.inthewhiteroom.com
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