Is your product price too high? Are you leaving money on the table? Have you settled on the best go-to-market strategy, and do you have the right partners to guarantee success? Navigating pricing, marketing, partnering, and merchandising can be a high-anxiety balancing act!
To answer these questions and more, sign up for APPA Pet Business Bootcamp On-demand. This 4-hour digital course empowers you with pet industry insights from a faculty of seasoned experts so that you can advance the best strategies for successful growth.
10 Powerful Tips Heard at Bootcamp On-demand:
- "Pricing for success isn't easy. The most often repeated error is to underprice the actual initial retail price. This leaves no room to add in distributors as the product becomes more desirable to the distributors." - Greg Forquer, PetsPhD
- "Retailers want you to have pull programs ready to go when they bring product in. In-store activities are part of that pull-through, and they need to be prepared in advance of your presentation. Having several options ready to go will show the retailer that you are there to support them and drive sales." - Kate Slaney, Brand Manager at Tailspring/Meyenberg
- "Choosing where to warehouse and ship your product can provide an economic benefit. 70% of the population in the US and Canada is within a one-day truck drive from Indianapolis, thus making it a top candidate for shipping location." - Greg Forquer, PetsPhD
- Trade show participation is important but "be careful with treats for animals. You don't want a buyer to make a decision based on the results of giving the treat to one animal under the stressful conditions of a trade show." - Jeffrey McCabe, PetsPhD
- When negotiating contracts with pet rep groups, consider that "new products require extra time, so there's often a minimum monthly fee or a retainer against commission until revenue hits predetermined minimums. Commission rates vary by category and by retail account. Do your homework." - Ray Hedlund, PetsPhD
- "Working with e-commerce retailers is especially important as it can be a very important point of entry into the pet industry and can lead to product placement in retail stores…If you have the ability to produce similar products, perhaps with small changes in the level of features and benefits, then you have the option to produce under different brand names and sell them each to different subcategories." - Julie Hutchings, VP Mello Sales
- "In the pet industry, there are four large pet publications. Pet Business, Pet Product News, Pet Age, Pets+". Leverage print advertising to speak directly with your customer, show product launches, show your display of POP materials, educate on product differences, and introduce line extensions." - Ray Hedlund, PetsPhD
- "Large regional chains place a high value on their shelf space, so the product must turn. If you are going to ask a buyer to take a risk on your products, it will need to return a better profit than the worst item in their category today." - Greg Forquer, PetsPhD, former SVP Merchandising at Petsense
- "You really want to choose your distribution partner by their willingness to engage in brand building. Find out from them how they talk about your product. It's your job to sell your product; it's their job to enhance your opportunity." - John Lawton, VP of Business Development, Phillips Pet Food & Supplies
- "Retailers are looking for new items. But, they are not looking for "me too" items in categories that are already saturated. If you have new revolutionary, problem-solving products, with amazing features and benefits and great profitability, they will come!" - Greg Forquer, PetsPhD, former SVP Merchandising at Petsense
Did any of those tips strike a chord? APPA Pet Business Bootcamp On-demand faculty members explore the above topics and more in this invaluable program. APPA supports your success—sign up today for this unbeatable price!
- APPA Member: $199
- Non-member: $299
