Nobody wants to feel like they’re paying over the odds for things, not least a retailer who’s looking to turn a profit on the product they’re buying. As the seller, of course you want to build relationships with retailers and make a bit of money yourself so, does that mean you should offer your product at the lowest possible cost price to make sure that you get the sale?
 
Well, it depends how you want your brand and product to be positioned: do you want to be the Lamborghini or the Lada of your market or, somewhere in the middle? If you’re happy to be the Lada (now largely extinct in the UK, as a side note) you’ll probably concentrate on making sure that your parts, production and packaging along with other business costs are kept to a minimum, to keep your landed costs as low as you feasibly can.

If your trade show is cancelled, don’t despair. I understand it’s a big part of your marketing plans but keep in mind that attending a trade show isn’t the only thing you can do to market your business. You have other tools for networking and marketing at your disposal.

As much as the Product Guru gang enjoys office chats and sharing ideas over coffee (and sometimes, ok, always cake), we’re working from home at the moment. Because our platform is cloud-based, it’s something we’re used to doing so we thought it could be useful to share some of our tips for working from home, if it’s not the norm for you. Here’s what a few members of the team had to say:

When you’re running your own company, it can be a challenge to keep on top of everything. Time and resources can be stretched but you know you need to market your business to help it succeed. The goods news? You’re probably already marketing and you haven’t even realised.

Here’s the marketing textbook bit (stick with me, folks)… The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably”. So, congratulations! You’re already instinctively marketing if you’re improving and developing products, getting to know your customers and figuring out what’s important to them and, trying to meet their expectations.

If you’re an independent supplier trying to get your products stocked on retailers’ shelves, then you need to start treating social media like your own shop window.

Establishing and growing your brand on social media couldn’t be more important at a time when consumers are more discerning than ever before. Here are some of Product Guru’s top tips for getting started.