Nail these five questions and you’ll be positioning yourself for new product ranging success in no time…
1) What is the retailer’s strategic aim?
Each retailer has an over-arching strategic aim that they are working towards. If you can frame your new product presentation in terms of the retailer’s strategic aim, the Category Manager will find it easier to get internal buy-in, especially if your new product is perceived as risky.
2) What is the structure of their category?
Each supermarket category is structured differently, and each retailer perceives the category differently. Know and understand the nature and segmentation of the category from that specific retailer’s point of view.
3) Where are the areas of opportunity in their category?
If you understand the retailer’s over-arching strategic aim, and you understand the structure of the specific category, you can identify areas of new product opportunity. This helps not only with selling the product in, but also with new product ideation.
4) What is the retailer’s competition doing?
Understanding not only the retailer you are pitching to, but the wider competitive environment can help give your new product competitive positioning.
5) Hawthorn or Collingwood? The Bears or the Giants?
Have a human touch. People like dealing with people they like. Don’t get so focused on your presentation that you forget the small talk. Small talk can have big impact.