Forbes – Taking on Amazon Recap
Paul Armstrong wrote in Forbes about the innovative ways companies are pushing to reinvent the market for high value brand items like athletic wear. Today, brand value takes a backseat to customer value and enterprise value. What do these tagline words actually mean? Customer value refers to the gauge repeat customers give for a brand or product. Enterprise value has to do with the economic sustainability (a.k.a. profit) a product’s production or manufacturing company has in the stock market and with stockholders. Three primary techniques are being used to stack up points with customers and stockholders
The Reverse Showroom Technique
The showroom has been a renowned and comforting arena for the customer to peruse, fondle, and critique or caress products thanks to Harry Truman. As opposed to this disconnected form of product inspection, reverse show rooming does things differently from physical stores. Membership is one of the driving anchors for modern product providers and whether purchases are made in-store or online are of no concern to their corporations.
Purchases are driven from a sustainable relationship through the marketing driven membership to which most in-store purchasers have already committed. Local stores are stocked with products that are indicated of interest by members. This ensures a rewarding shopping experience though companies confess to doing small scale experiments occasionally to determine whether product sales are primarily driven through online interaction or in the nostalgic showroom fashion. Typically, product sales have demonstrated that familiarity encourages product desirability.
What Does This Mean For The Future
Amazon does not hold the market in product sales. Companies are in-step with the online (and now physical) mogul. Online data does bear the brunt of retail strategy, however other factors like accessibility, consumer education, and customer experience are producing a return on investment in product sales. New showroom experiences are paving the way for more masters of product marketing and ultimately, online or offline purchases.
So what’s ahead if today’s sales forces are pushing the reverse showroom technique? ROI is definitely here to stay and consumers will push their preferences into the equation so that investors and product merchandisers are happy. But all that comes with satisfied customers.
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