Jul
17
The key to fighting the price-oriented private labels is not making a knee jerk reaction to compete on price, but instead exploring other options.
- Increase the perceived value of the product
- develop new market segments that are less price-sensitive
- build stronger relationships with the distribution channels
- get rid of product lines of sizes or flavors that are not generating profits for the retailer
- invest in better customer databases and retention programs (IT)
