January 2, 2013
Before you are ready to pitch to a buyer, there are “must-haves” you should first have in place. These “must-haves” are all components of a larger business case you are building to convince buyers they need your product in their assortment. And these components take time to build, which is why it is important to address them now!
Here is the next “Must Have” for answering the question, how does your product benefit retailers?
Defining your consumer target. Knowing who your target audience is – from their demographics to their attitudes, shopping behavior and preferences (this is when doing consumer research pays off) – helps you show the type of shopper your products will bring into the retailers’ store. Align this with the retailers’ shopper strategy and you’ve checked another box in building a compelling business case. In your pitch presentation, include a section that profiles your target consumer.