"HRCP's deep understanding of our business, from consumer insight through portfolio management, resulted in numerous successful growth initiatives over several years."
Kathy Widmer, CMO, Elizabeth Arden; former VP Mktg, McNeil Consumer Healthcare
Beginning with the knowledge base of the Market Map, which reveals the sources of revenue growth, and the marketing strategy, we create strategies for:
Category Leadership Strategy—HRCP integrates the consumer knowledge estate from the competitive frame and growth strategies to develop retail sales platforms for category management and leadership. These platforms define how the category is organized, where sales growth will come from, how retailers can get their share of the growth potential, and the key drivers to maximize sales and profit.
Assortment Optimization—For each distinct segment of your MarketMap, HRCP defines the products that satisfy consumer needs based on velocity, growth, margin, and loyalty. We define a set of assortment principles to improve revenue, increase GMROI and reduce consumer confusion at the shelf. We useMixMaster®, HRCP's proprietary tool for developing assortment scenarios based on true consumer switching behavior, to understand and quantify the impact of adding and deleting items from the product mix. MixMaster® identifies volume flows for added and deleted items at the SKU level. And it can quantify the value of improving distribution on power SKUs, as well as the impact of new items to the product mix.
Shelving Optimization—HRCP develops a set of shelving principles to drive clarity of action at retail. Shelf flows are optimized based on how the consumer views the section from a usage perspective at the highest level and then organizing at the lower level based on the hierarchy of retail purchase behaviors.
Trade Promotion Improvement—HRCP clearly defines trade promotion performance improvement opportunities. We start by understanding the strategic role of trade relative to the overall sales and marketing mix, the importance of trade to overall volume attainment, and the importance of brands, sizes and channels to the root causes of consumer switching behaviors. We look not only at the individual brands and promoted groups but also at the entire portfolio and the relationship between brands and sizes that affect profitability. HRCP then develops promotion principles and recommendations that include optimal promoted bundles, optimal deal frequency and depth of discount. We quantify the value of implementing the principles at the customer level using PromoMasterSM, HRCP's proprietary analytic tool for promotion improvement. The net result is a set of defined sales promotion principles to improve ROI on trade spending and grow sales through maximized promoted volume.
Because they are based on the solid foundation of consumer behavior as defined in the Market Map, these sales strategies bring your marketing strategy to life at retail, delivering real bottom-line results.
Read the latest insights from HRCP thought leaders in The Rak Report.