Published on March 8, 2014
K Vivek Varkey IIT Hyderabad
A supermarket will want to see that we've got an achievable marketing plan in place. They have to be able to sell our product. The methods of publicity as described in the previous slide is necessary because a general awareness about the product is necessary before launching into retail outlets. The awareness is necessary because when the retail outlets are approached we should not have a lower hand. If the product is popular enough it will be easier to strike a deal with the grocery outlets under mutually benefitting terms
There are two ways to start a tie up with grocery outlets. 1. Pay enough cash upfront and finalize the deal. 2. The second way is by clever marketing in which the terms would be such which would be benefiting both the parties. In this case the deal can be struck without denting the company’s treasury much. Being a passionate marketing person I would be focusing in the second option.
All the discussions henceforth would be applicable for both the retail stores and the online grocery services.
The packaging of the product must be done in the best eye catching way possible. It should be designed in such a way that one look at it and the target customers would want to buy it. This would be helpful in generating income for both the Healthy rice and the retail outlets thus creating a win-win situation. A QR code can also be attached to the packaging which will direct to the retail outlet. This creates an awareness about the grocery outlets which will help ease the terms while striking a deal with the same outlets.
The retailers would love it if their publicity can also be done in any way through any medium. If we can offer them exactly that we would be the one with the upper hand. In the previous slide I had explained I detail various ways of publicity. If we offer to tag the retailer’s name or logo then it is their publicity and again creates the very necessary win-win situation. This will convince the retailers that the need is not only ours, but even we can contribute in their development. In the Facebook posts a link to their site can be written which will direct to their site (as a place from where Healthy Rice can be bought).
People always respond to incentives – it is one of the ten principles of economics. Coupons or similar price cut offers can be offered using which the customers can avail a certain discount if purchased from a particular retail outlet. This has killing two birds with a stone effect. Customers would be more eager to try the product for another time. At the same time they would have to go to that particular retail outlet to avail the discount, thereby generating more revenue and awareness for the retail outlet.
These are certain ways which are cost efficient (some of them costs next to nothing) but it will have significant impact while the collaborating with the retail outlets. They will be willing to offer a good shelf for our product without demanding much money cut. After all even the retail outlets are growing through our publicity.
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