What does your target market value?

Posted by Megan Moyer

When you are deciding on a price point for your product you have to consider a number of factors. The perceived value of your product could be one of the most important ones; however, that insight isn’t always clear-cut and easily available.

Value is a very personal thing. What you value and what I value can be totally opposite of each other. When it comes to your product, once you’ve accounted for costs, fees, and margins, you still have to understand how your target market measures the value of it before you can recommend a final retail price.

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We learned a lot in 2013; let’s use it in 2014

Posted by Jenny KosekThe Pew Internet and American Life Project recently released results of a Social Media Update survey conducted in 2013. Some interesting findings:

  • 73% of online adults use social networking sites
  • 45% of Internet users over age 65 use Facebook
  • Women favor Facebook, Instagram, and Pinterest; men favor Facebook, Twitter, and LinkedIn
  • LinkedIn is the only social networking site for which usage among 50-64 year olds is higher than usage among those 18-29
  • 13% of LinkedIn users visit the site daily, compared to 63% of Facebook’s users who visit daily

What does this mean for HBW manufacturers and retailers?

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Does your package still pop?

Posted by Megan Moyer Just what is it that makes your product package stand out on the shelf? Can you pinpoint the elements that help consumers decide to choose it over a competing product? We’ve worked with multiple manufacturers that successfully secured distribution and were accepted into stores but then had problems selling their product. Of … Read more

Turn your “likes” into advocates

Posted by Dave Wendland

One challenge facing organizations who have added social media to their marketing mix is how to measure return on investment and gauge the medium’s effectiveness. I’ve spoken to too many companies – large and small – who feel the success of social media (e.g., Facebook; Twitter; blog; Pinterest; etc.) is how many “likes” they can accumulate.how many "likes"

To my way of thinking, being popular does not translate into business opportunities.

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Collaboration is the key to success with independents — part two

Posted by Megan Moyer

As I mentioned in my last post, a couple of years ago we authored a white paper that was sponsored by HDMA and CHPA about supply chain collaboration and how it could help all involved improve their success in independent pharmacy. I previously wrote about an action item for wholesalers from that paper – to develop programs that provide results for manufacturers. Today I want to examine the next suggested action – focus on SKU rationalization.

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