Continuing the discussion on pricing, Bridget addresses how to increase prices. In a recent study with Drs. Marco Palma and Charlie Hall, the team worked with Carol Miller (former editor of Today’s Garden Center and The 10% Project) to show that real garden centers can increase prices and generate potentially more revenue despite selling fewer units. Listen and learn the products that can more easily take a price increase and which products to resist increasing the price.
In this week’s podcast, Bridget continues her discussion of pricing to include signpost items and the numbers used to show price. Signpost items are common products that most people use to make comparisons about retailers, such as a gallon of milk or a four-inch geranium. Retailers can be more competitive on differentiated products, which are not ever signpost items. Learn how to leverage differentiated products in this week’s podcast.
This week, Bridget starts a short 4-podcast series on pricing. The series begins with a discussion about value. Value is a lot like beauty; it depends on the beholder. Today, Bridget will discuss the five components of perceived value and how they feed into setting prices. Struggling with profitable pricing? Listen to this podcast to learn how to increase the perceived value of your products.
You can learn a lot from a Zip Code! In today’s busy society, it is becoming increasingly difficult to get people to complete surveys so that businesses can better understand them. Asking for a Zip Code at check-out provide the business with some great information that can be obtained for free at American Fact Finder (link). In this week’s episode, Bridget will discuss the importance and value of collecting Zip Code information and what you can do with it to boost your marketing strategy.
Sweden has a mission to soon go cashless and so have some U.S. businesses. How about yours? Do you dare go cashless? In this week’s podcast, Bridget talks about the bold move one Michigan retailer is taking by going cashless. What are the pros and cons for both buyer and seller? Listen this week and find out.
With this new segment to the Marketing Munchies podcast series, Bridget will introduce some “marketing basics.” This first marketing basics podcast focuses on the definition of marketing. All too often marketing gets confused with (only) advertising. In this week’s episode, Bridget will discuss the American Marketing Association’s definition of marketing and how many firms develop from a product perspective to a sales perspective and (finally) to a consumer-focused marketing perspective.
This week, Bridget builds on the research findings from focus groups with Gen X and Gen Y and discusses four marketing campaigns that put those findings in action. The campaigns are (1) Helping Your Garden Grow: We Guarantee It! (2) Grow Up Gardening, (3) We LOVE Where You Live, Too! and (4) How Does Your Garden Grow? These free marketing campaigns can be adapted by most retail operations and can help you better connect with Gen X and Gen Y.
Baby Boomers have been a key market segment for the Green Industry for decades. What do younger-aged potential customers think about horticulture, plants and gardening? This week, Bridget will discuss four key findings from online focus groups conducted a few years ago. Listen and learn a bit more about what the next generation of potential customers is thinking about our industry, both good and not-so-good. Next week, Bridget will discuss how to put these findings into action.
Bridget’s guest on the podcast this week is Debbie Hamrick, Director of Specialty Crops at the North Carolina Farm Bureau. Debbie and Bridget both serve on the Economic Committee for the National Initiative for Consumer Horticulture. They will discuss the info-graphics designed by Jennifer Gray (AmericanHort) for the committee and how anyone growing or marketing plants should be using these awesome research-based info-graphics in their business. The info-graphics are based on the information Charlie Hall spoke about in Episode 3. Download the free info-graphics here.
This week, Bridget continues to discuss bee-friendly insect management strategies but combines them with consumer perceptions of other eco-friendly practices. These include containers made from recycled materials, sustainably-sourced potting mixes or media, and recapturing/recycling irrigation water. Results from a 2015 study showed that the insect management strategies were slightly more important than other eco-practices. Yet, these finding should encourage businesses to be more transparent about the environmentally-friendly practices in which they are engaging.