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Applied Marketing 101: Beads and the Product Life Cycle Curve

Applied Marketing 101: Beads and the Product Life Cycle Curve

Scarcely a day goes by without at least one retailer asking my opinion on if, and when, the bead frenzy will end. It’s an important question, given the extraordinary dependence that many better independent stores now have on bead lines for traffic and cash flow. As part of the diagnostic process of evaluating our customers’ marketing strategies, it’s generally helpful for me to understand the relative contribution of each merchandise category to a store’s overall revenue stream, and recently it’s not been uncommon for me to see 30 percent or more of gross revenues coming from beads. In order to understand what’s happening in this category, and perhaps gain some insight into what may likely happen in the future, let’s take a look at a fundamental marketing principle called the Product Life Cycle.

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We all have a price... what’s yours?

The average customer considers the price of a product to be a key factor in their purchase decision. When you ask consumers about certain retail establishments, they may ...

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Is your location relevant?

By relevant I mean, is your location working for you today and for tomorrow? Is it bringing in traffic that is your desired customer base? Is traffic flow and parking e...

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The Retailer’s Perspective: What’s wrong with people?

Oh dear, where to start? Who gets the honor of being first today?

Picture the scene: It’s the first nice spring day of the year. We weren’t under any sort of weathe...

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Sales Growth Expert: It’s all about the service It has always been - “All About The Service”

One of my first businesses, at the age of 10 or 11, was the fruit business. Back in the ‘50s grocery stores were not as prominent as they are today. Mom purchased egg...

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What can I do as an individual salesperson to increase sales?

There are three basic ways that an individual salesperson can increase their sales. The first way would be to get more people to come into the store that you can sell. ...

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Profit vs Cash flow - what’s the big deal?

Profit vs Cash flow - what’s the big deal?

If you are running a business, you better know there is a big difference between profit and cash-flow. Though they seem similar, they are not, and you run the risk of put...

Internet Marketing Strategies: Confused about Internet marketing?

Websites, Google, Facebook, Search Engines, Online Video Marketing, Link Building, Local Search, Twitter, YouTube, Pay Per Click Advertising, Social Networking, SERPs, e-...

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Applied Marketing 101: How this funny looking little ink spot is about to change Everything

Applied Marketing 101: How this funny looking little ink spot is about to change Everything

Occasionally, technological changes occur that transform society in extraordinary ways. I’m sure you would agree that the development of the personal computer represent...

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