Price Elasticity Can Break Your Brand
PRICING YOURSELF OUT OF THE MARKET
The price elasticity of demand is an economist’s way of describing what everybody who has ever had a business already knows: Generally, your price is determined by the market. Wouldn’t it be nice to raise your prices and see no decrease in demand? You’d be rich! But...
Keep Your Sales Pitch Concise, Compelling and Compassionate
GETTING TO FIRST BASE!
In our many years in business and working as advisors to Startups, Buildups, and Buildout companies, we’ve heard hundreds of sales pitches. Most of them strike out before they ever get to first base. The ones that hit the ball squarely all have three things in common....
Five Competitive Forces that Shape Strategy are Out to Get You
FROM ALL SIDES!
It’s hard enough to make a buck these days. You’re going to need a whole lot more than a good idea. In fact, as we found out, you’ll need to take several adversarial forces into consideration. It’s like fighting a battle on many fronts at the same time. You’re...
5 Ways to Increase Your Working Capital
LEARNING HOW TO DANCE
Our friends were surprised to see us still in business after two years. They knew we were undercapitalized. They would say sarcastically, “I didn’t know you knew you could dance!” alluding to all the fancy foot work it took to pay our bills. We responded, “We didn’t...
How to Measure Brand Awareness of CPG Branded Products
DISTRIBUTION BUILDS BRAND AWARENESS
The more we see something, the more familiar we are with it. Even if we don’t engage, just the reoccurring exposure to it builds our awareness. The same thing happens with CPG brands. In other words, there is a direct relationship between branded product distribution...
CPG Marketing is Promoting the Sale of Real Consumable Products
YOU CAN HOLD IT IN YOUR HAND!
What is a CPG? It’s a consumer packaged goods product. They are usually branded. Also known as fast moving consumer goods or FMCG, they are distinguished from the less often purchased, slower moving, and higher priced items (like houses, refrigerators, cars, or even...
The CPG Space is the Best Place to be Entrepreneurial
SOLVE THE PROBLEM!
Got an idea for a consumer product? Want to see it at your local store? You’ve got challenges, serious challenges! Challenges that will require all the attributes of entrepreneurship. In fact, you will be problem-solving from the moment you get started. The first...
CPG Packaging is Poised for a Sea-Change!
HERE WE GO LOOP DE LOO!
There’s a lot of talk these days about high tech. We all spent much of our time each day engaging with high-tech devices. These have their own health challenges like “tech neck,” impaired vision, and the loss of social skills. But some of the biggest challenges to our...
The Business Name Change Checklist Gets Longer When Your Products are Involved
ARE YOU SURE YOU WANT TO CHANGE YOUR NAME?
How to change your business name is relatively simple compared to how to change your product name. Some companies produce products under their business name so when they change their business name they may be changing their product name as well. So, let’s start with...
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