All food entrepreneurs have the same journey to success. The journey is 3 steps and they are big steps:
- Getting Out of the Kitchen.
- Getting on the Retail Shelf.
- Getting on the Consumers Plate. (The plate is a metaphor for the marketing terms of Trial and Repeat Purchase)
Food Entrepreneurs always start in the kitchen because that is where you exhibit culinary creativeness.
Before you know it, your new retail food business will need to get its product Out of the Kitchen and on the Retail Shelf. Getting on the Shelf can be the most frustrating step in the process because it has little to do with "the food"… this is New Product Launch. Surprisingly how your product tastes is only ONE factor in the buyer's decision making process. Let's face it, do you think the retail buyer believes food entrepreneurs will present new products that don't taste good?
In order to be successful in the launch of a product, you will first need to effectively pitch your product to a retail buyer. The retail buyer pitch is more than standard sales pitch and different from an investor elevator pitch. The retail buyer pitch is an expected component of the food entrepreneur's new product launch plan and requires significant planning prior to ever speaking with a prospective buyer. Retail buyers are very busy people and you have to assume you get one shot at the apple so to speak. So how do you ensure that your pitch will be successful?
An Outline for a Retail Buyer Pitch
Retail Buyer Pitch Get Ready! is a series of articles that are critical to the successful launch of a product. You will learn how to create your retail buyer sales pitch and understand the importance of each step and how to successfully develop each step so you get from kitchen to cash faster!
A retailer buyer sales pitch has 10 elements. Don't be set back by 10 elements since it is far easier to develop than you think. A number of the bullet points may only be one sentence.
• Indentifying your Retailer Prospects
• Creating your brands Product Positioning
• Features / Benefits (what is in it for the consumer and then the retailer)
• Frame Your Brand to other Brands
• Determining the Retailer Action Desired
• Identifying Your Target Audience
• Market Trends that Support Your Case for Shelf Space
• Competition, both Direct and Indirect
• How Will You Support the Brand
• What is the Buyer's Reason to Buy