The stores (and products) with a future share a lot of the same critical characteristics for success. These have been identified by Dr. Leonard Berry, Director of the Center for Retail Studies at Texas A & M University.
Why Should You Attend:
Fear: Many stores fail to differentiate themselves from the competition because they often try to emulate what the other successful competitors have done with similar products or services. Marketers are afraid that customers won’t recognize and value the differentiating key points of the brand and therefore they try to say the same thing and offer the same benefits that the other brands offer. In fact, they get lost in a sea of similarity and fail to gain market share in the process or fail altogether. By understanding what successful online stores, successful retail businesses (and brands) have in common, a company can avoid mistakes and develop a unique brand that resonates with the customer. Just look at what works.
Uncertainty: Faced with this the marketer often resorts to the most common denominator and that is often price. Feeling that price is the prime motivator, the marketer resorts to one promotion after another and becomes obsessed with driving sales and trial through discounts and sales events that look just like the competitors. Price perception is only one part of the equation. It’s important to build understanding of what differentiates one brand and why the customer should remain loyal to yours and not the competition. To do this, look at what the best in class are doing to bring in customers and keep them. Then apply these principles to your unique brand.
Areas Covered in this Webinar:
What is your reason for being?
Is price the only deciding factor?
How do you create value?
What is convenience in today’s world?
How do you make shopping your store/service or buying your product fun?
Develop a successful marketing plan by understanding what makes the best-in-class stores/services successful
Who Will Benefit:
Brand Management Teams
Product Development Teams
Advertising Agency Management
Ken Banks brings more than 30 years of retail marketing experience to his consulting and presentations business, where he specializes in helping companies to develop effective brand strategies.
A retail marketing executive with companies like PetSmart, Circuit City, Eckerd, and Procter & Gamble and advertising agencies like Doner and Fahlgren, Ken has also served on the advisory boards at both Texas A&M and the University of Florida. He has been an adjunct professor in graduate marketing studies at Schiller International University and University of Florida.
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