Go to market
Product development is conceived through a collaboration between the designers, the B2B and B2C sales-teams. Both the type of products offered (their characteristics, price etc.), and the proper timing for each collection’s launch are critical. ROI of each SKU, by monitoring each collection’s actual sales is critical. Partially or totally outsource the creation of collections is sometimes a choice.
Distribution strategy is something vital, as it can significantly enhance the value of a brand in the long run, if controlled wisely. Ensure that the distribution strategy is in line with the brand’s strategy and avoid store ‘cannibalization’ and channel conflict. The total # of resellers plus the qualitative criteria (location, other brands in store, etc.) of each retailer should be continuously monitored.
“The brand DNA must be able to be displayed at a sales point”. When it comes to the luxury industry, a brand’s history/DNA is crucial.
Alongside the intangible values, highlighting the company’s tangible qualities, such as the established premium quality of its products, and the artisanal know-how that has been built over the years, can lead to the brand’s timelessness.
Every point of sale is the final touch point before any purchase, and thus it is of strategic importance (B2B retailers and DOS). New Technology in Visual Retailing can positively surprise customers (wow effect) & connect stores and HQ.
Word of mouth, generated from customers’ great shopping experience, is ultimately the best promotion that a brand can aspire to.