Brand groups must be re-designed to bring a shopper focus to the brand strategy. This requires establishing a Shopper function within Marketing that is simultaneously brand- and retailer-facing. This will ensure that the brand strategy is fully aligned with the shopper’s behavior within specific retailers.
Author: T M
ORGANIZATIONAL DESIGN
PLANNING & BUDGET What is the Initiative Value Assessment?
And why is is so important?
A Initiative Value Assessment (IVA) helps determine the extent to which a given retailer is likely to support your initiative, and allows you to adjust priorities as needed. It scores the value of a Shopper initiative based on five customer needs that are weighted based on importance to each individual retailer (in other words, the weighting will change from retailer to retailer).
BRAND X JOURNAL Why do shoppers de-value digital goods?
A weak link to ownership is evident
Harvard Business Review: “Despite the many advantages of … digital goods, companies find again and again that people value and are willing to pay considerably more for … their physical counterparts … experiments suggest that the key driver of this value loss is not the resale value of the good, or how much it costs to make, or how long it can be used, or whether it’s unique or popular. We find that the key difference is that digital goods do not facilitate the same feeling of ownership that physical goods do.”
RESEARCH REPORT Three more secrets of Shopper success
Training, scope & retailer focus
Training: Sixty-four percent of ‘excellents’ (i.e., those who say they excel at Shopper) report that they received their shopper-marketing training through formal company training programs, while only 22 percent of the ‘not-so-good/poor’ group did. Even more important is the quality of training: Only 3.6 percent of the ‘not-so-good/poor’ respondents rate the training they did get as excellent, compared to 50 percent of the ‘excellents.’
SHOPPER ORGANIZATION Why is Marketing critical to Shopper?
Bottom line: Follow the money
Shopper ultimately is about how consumers behave as shoppers — why they shop, when and where they shop and how they decide which brands to bring into their homes. This type of understanding, based on research, is fundamentally Marketing expertise.