Once thought of as the last item to consider in product marketing, now product labeling is a key factor in promoting sales growth. Research shows that the product’s label is highly influential in determining the consumer’s level of interest in a product at the Point of Sale and in integrated marketing communications programs. This is true for nationally recognized brands, and it is even more important in private label brand programs. Private brands typically rely heavily on the product’s packaging and label to market products at the Point of Sale. In a fiercely competitive industry, retailers are incorporating more technology to track products, increase sales, and reduce cost. The most successful corporations are adopting customer-centric policies to boost business.You can get additional information at Shipping Labels.
Customer-centricity allows retail chains to customize their store layouts based on the consumer demographics of each individual location. RFID labeling supports customer-centricity by allowing retailers to keep real-time data of product and sales status. With this technology, retailers may move products that are not selling to less desirable locations in the store or discontinue the item completely. As a result, to keep their product in sight of the consumer, suppliers are challenged to package and label their products to meet the needs of their customers as well as their retailers. Successful retailers implementing costumer-centric ideals include Wal-Mart, Home Depot, and Best Buy as well as many others. With the right merchandising strategy, suppliers can successfully package and label their products to meet the needs of their customers and retailers to maximize sales.
To develop a successful product marketing sales strategy, it is important to analyze several points of market research: Successful tactics of the top retailers of the supplier’s sales channel. Labeling and packaging requirements for specific retailers and their customers. Creating a package and label design that is customer-centric. Using technology to maximize consumer data and minimize cost. Follow the example of successful labeling campaigns requirements. Success in Retail and Wholesale Channels. Among the first to require their suppliers to use RFID tags on pallets, Wal-Mart has an IT strategy and costumer-centric policy that has kept the chain as one of the most successful in the nation. Their IT strategy creates an efficient system throughout their network. By incorporating a consistent system, error is minimized, and more time is allowed to focus on product turnover and customer satisfaction. This satisfaction is taken into account first and foremost when Wal-Mart decides to work with a supplier.
Label Requirements and Customer-Centricity-Wal-Mart’s motto to their suppliers is, “If it works for our customers, it works for us”. When it comes to the product package and label, their rule is that the customer must “get it” within 3 seconds from 15 feet away from the shelf. Once the product fills these requirements, the item must grab the attention of the consumer. The average consumer wants to be dazzled, and it is therefore imperative that packages and labels are created with the consumer’s needs in mind.
Packaging and labeling must not only appeal to a target market, but must also address the specific demographics of the retail store selling that package. When a consumer has a need for a product, their first buying decision is quite likely which store to shop at rather than which product to buy. Therefore, a supplier must maintain a solid relationship with their retailers who act as the gatekeepers to their consumers. Retailers strive to provide a convenient, comfortable shopping experience for their customers. In order to keep their product alive and in sight of the consumers, suppliers must adhere to what is important to each retailer as much as to what is important to their end customers.