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Understanding Your TargetMarket and Their Needs You need to know who you’re selling your product to. Selecting and Sourcing Products Whether you’re dealing with wholesalers or making your own items, it’s crucial to have products that stand out and appeal to your targetmarket.
The technology also enables retailers to create targetedmarketing campaigns. By recognizing customers in real time, retailers can tailor their in-store advertising and promotions to suit individual preferences, leading to more effective marketing campaigns and higher conversion rates.
Retailers with the correct tools may examine buying habits, project future directions, maximise inventory control, and even enhance supplychainmanagement. The end effect is a more agile, customer-centric company able to react fast to changes in the market.
In this phase, detailed analysis of failures and product yield is carried out, while the logistics and supplychainmanagement are streamlined for efficiency. Retailer negotiations and launch Identifying potential retailers that align with your targetmarket is the next challenging step.
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