Small business,such as local business,personal finance,credit and real estate.
Question:
How do you market a bed rail to large stores such as Target, Wal-Mart, those kind of stores? It's a revolutionary product for home-style beds so we're looking for various places to give it some exposure. Thanks in advance!
Answer:
First, you need a reason why they should buy your product - or rather why the consumer would want to buy it- and why you would want to charge the retail price you are requesting. You also need a knowledge of their profit needs for the category you are going into so that you can present a case for it being a good addition to their inventory.
Then hunt down the name of the category (part of the store) where your product would go if it is not sold there now. Go to a local Wal-Mart and ask the manager what they call it. That way you can contact the corporate office and ask for the buyer for the right category.
Then go in with a very buttoned-down, fact driven presentation and you should get an audience. But those companies are very fact-driven- so be sure you have your case put together so they know why the consumer would want it (and want your version of it), why they would want it (the store), how much per unit they'll get, and what price they should charge (which they'll disagree with).
Be open to doing a “test” in one region or in some limited number of stores. That way you can prove the merit of the idea and also not over-burden your company with a huge order if the whole company buys.
Remember- prices don't go up at Wal-Mart- so be okay with what you're making now.
And then hold on if you get the business.
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