Method of creating and implementing a marketing plan for a retail store chain with measurable profit enhancement

• US 20060116927A1
• Filed: 12/01/2004
• Published: 06/01/2006
• Est. Priority Date: 12/01/2004
• Status: Abandoned Application

• Current Assignee: DSM IP Holdings, Inc.
• Original Assignee: Miller Zell, Inc. (CDI Group Incorporated)
• Inventors: Matthews, James P., Kennedy, Robert B., Miller, Harmon B. III
• Application Number:
  US11/000,025
• Publication Number:
  US 20060116927A1
• Time in Patent Office: Days
• US Class Current: 705/14.410
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0209 Incentive being awarded or redeemed in connection with the playing of a video game
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0237 at kiosk
• CPC Class Codes: G06Q 30/0242 Determining effectiveness of advertisements
• CPC Class Codes: G06Q 30/0264 based upon schedule

Abstract

A method of creating and implementing a marketing plan for a retail store chain includes the steps of developing a media and marketing plan tailored for the specific needs of a retail store chain including concentration on marketing of high margin products, implementing the plan in the retail store chain, measuring gross sales and gross profits for stores in the chain including determining whether the plan has enhanced gross sales and gross profits. Responsive to the determining step, the plan is modified in a modified plan designed to enhance gross sales and gross profits. Once the plan has been modified, the modified plan is then implemented. The process is repeated through measurement of gross sales and gross profits for the modified plan, with subsequent modification and implementation of that plan. In this way, the plan is substantially perfected to maximize measurable enhancements in gross sales and profits of a retail store chain.

Claims

1. A method of creating and implementing a marketing plan for a retail store chain including the steps of:

a) developing a media and marketing plan tailored for the specific needs of a retail store chain including concentration on marketing of high margin products;

b) implementing said plan in said retail store chain;

c) measuring gross sales and gross profits for stores in said chain including determining whether said plan has enhanced gross sales and gross profits;

d) responsive to said determining step, modifying said plan in a modified plan designed to enhance gross sales and gross profits;

e) implementing said modified plan; and

f) repeating steps c, d and e.

2. The method of claim 1, wherein said developing step includes the step of creating a business model and measurement system, said measurement system including use of techniques chosen from the group consisting of cost analysis, measurement tracking schedule, ROI model, customer experience validation, and research and renewal model via point-of-sale and sales tracking data.

3. The method of claim 1, wherein said developing step includes the step of engaging category managers of said retail store chain to identify high margin products to be emphasized.

4. The method of claim 3, wherein said engaging step is carried out in accordance with promotional calendar programs chosen from the group consisting of seasonal, holiday driven, event driven, and occasion driven programs.

5. The method of claim 1, wherein said developing step includes the step of determining particular selling techniques that will be used in each particular store of said chain, said selling techniques including one or more chosen from the group consisting of cross-selling of related products, up-selling of products, private label recommendations, affinity product tie-ins, product usage suggestions such as menus, recipes, and how-to lists, health and fitness suggestions, occasion-based marketing tie-ins, and feature/advantage/benefit communications.

6. The method of claim 5, wherein said developing step includes the step of determining which selling techniques will be employed at particular locations in each store of said chain, said locations including one or more chosen from the group consisting of parking lots, other exterior locations, doors, windows, aisles, shelves, displays, end caps, coolers, walls, floors, overhead locations, and check-outs.

7. The method of claim 5, wherein said determining step includes the step of choosing activities to be used in promoting sale of high margin products, said activities including one or more activities chosen from the group consisting of affinity programs, loyalty programs, digital signage, video displays, kiosks, co-branding, product demonstrations, and sampling and taste tests.

8. The method of claim 1, wherein said developing step includes the step of designing custom client-based signage.

9. The method of claim 1, wherein said developing step includes the step of determining micro-market media plans based upon market profiles of the shopper audience, said market profiles being determined based upon information including one or more chosen from the group consisting of geographic, demographic, market configuration, and SKU availability information.

10. The method of claim 1, wherein said implementing step includes the steps of defining and quantifying media content variations by market and store, said market variations including one or more chosen from the group consisting of demographic make-up, store size, SKU availability, and fixture type and size.

11. The method of claim 10, wherein said implementing step includes the step of production of media content.

12. The method of claim 11, wherein said implementing step includes the step of installation of permanent media hardware and temporary program elements.

13. The method of claim 1, wherein said measuring step includes the step of determining the frequency of conducting measurements and shopper research.

14. The method of claim 13, wherein said measuring step includes the step of analyzing retail point-of-sale and sales tracking data, said analyzing step including consideration of one or more criteria chosen from the group consisting of gross sales, gross margins, and market basket size analysis.

15. The method of claim 14, wherein said analyzing step further includes the step of analyzing shopper loyalty card data and supplier data, said step of analyzing shopper loyalty card data including analysis of one or more criteria chosen from the group consisting of basket composition, frequency of store visits, and shopper demographics.

16. A method of creating and implementing a marketing plan for a retail store chain including the steps of:

a) developing a media and marketing plan tailored for the specific needs of a retail store chain including concentration on marketing of high margin products, said developing step including the step of creating a business model and measurement system, said measurement system including use of techniques chosen from the group consisting of cost analysis, measurement tracking schedule, ROI model, customer experience validation, and research and renewal model via point-of-sale and sales tracking data, said developing step further including the step of determining particular selling techniques that will be used in each particular store of said chain, said selling techniques including one or more chosen from the group consisting of cross-selling of related products, up-selling of products, private label recommendations, affinity product tie-ins, product usage suggestions such as menus, recipes, and how-to lists, health and fitness suggestions, occasion-based marketing tie-ins, and feature/advantage/benefit communications;

b) implementing said plan in said retail store chain, said implementing step further including the steps of defining and quantifying media content variations by market and store, said market variations including one or more chosen from the group consisting of demographic make-up, store size, SKU availability, and fixture type and size;

c) measuring gross sales and gross profits for stores in said chain including determining whether said plan has enhanced gross sales and gross profits, said measuring step further including the steps of determining the frequency of conducting measurements and shopper research, and analyzing retail point-of-sale and sales tracking data, said analyzing step including consideration of one or more criteria chosen from the group consisting of gross sales, gross margins, and market basket size analysis;

d) responsive to said determining step, modifying said plan in a modified plan designed to enhance gross sales and gross profits;

e) implementing said modified plan; and

f) repeating steps c, d and e.

17. The method of claim 16, wherein said developing step further includes the step of engaging category managers of said retail store chain to identify high margin products to be emphasized.

18. The method of claim 16, wherein said implementing step includes the step of installation of permanent media hardware and temporary program elements.

19. The method of claim 18, wherein said implementing step further includes the step of production of media content.

20. The method of claim 16, wherein said developing step includes the step of engaging category managers of said chain to identify high margin products to be emphasized, said engaging step being carried out in accordance with promotional calendar programs chosen from the group consisting of seasonal, holiday driven, event driven, and occasion driven programs.