With various brands flooding the market today, competition is fierce. Many companies strive to stay on top of the competition by introducing new incentives to attract consumers.  However, it’s not enough that you have a good marketing strategy, it is also important for producers to continue to innovate and create products that would meet the exact needs of the consumers so that they will continue to buy them.

To achieve this goal, producers need to conduct a retailer range review of their product. Benefits of conducting a range review include:

• making better decisions for the direction of the product line
• adding or increasing your products shelf space
• acquiring valuable internal skills
• gathering relevant information about your product, the consumers, and your sector
• getting an important understanding of the product
• identifying the gaps in the product range
• driving new sales in the product category that would greatly contribute to suppliers, retailers as well as consumers

Conducting a retailer range review

Without gouging or updating the performance of a product could lead to a loss in profit for the retailer and supplier as well as missed opportunities for consumers to get the quality that they deserve. Retailer range reviews could help you avoid all this. In fact, if you know how to do them correctly, they can even help you in planning a marketing strategy to promote the product.

Conducting a range review takes time as data must be carefully analyzed.  You can’t do the process haphazardly if you want it to yield information that would meet your objectives. Moreover, producers and retailers need to work hand-in-hand during a range review process for it to be a success.

If you can’t find time to do the entire review process yourself, you can hire trusted service providers like Assosia instead.  They can monitor competitor activities, emphasize global trends during the launching a product, check the price and promotion strategies of the competition, and track how the competitors’ products are performing over a period of time.

Importance of range reviews

Making use of range reviews is important if you want to get the most out of your products.  With the emergence of several new brands, you have an advantage if you know what you are up against and keep track of what drives consumers to choose one product over the other.

A range review should be able to help you find out how to increase customer satisfaction and build your customer’s loyalty towards your brand. Apart from this, it’ll aid you in staying ahead of the competition, especially when there are several brands offering the same product or services as you do.

Conclusion

When looking for what your target customers need, you can very well seek the help of a range review. A well-conducted one may just give you the answers that you need. In the long run, it will even prove to beneficial to both parties.