Pricing Strategy: Competitor Surveys, Price Sensitivity and Marketing Segmentation

In all business models, part of the recipe for success is being competitive on price. As an every day consumer, this concept should be fairly obvious — if two competitors are selling a given product with the same apparent value, we will in most cases favor to purchase from the more affordable company. That makes sense, right? Yet I am surprised over and over again how … Continue reading Pricing Strategy: Competitor Surveys, Price Sensitivity and Marketing Segmentation

Reject Excuses: How to Coach your Team towards Positive Business Results

During my routine business tasks as a retail territory manager, I am constantly faced with the need to coach my team. Coaching is a delicate soft skill that requires careful attention because such small details as the diction you use can have a significant impact on the employee’s reception. Today’s blog post is focused on what I consider to be an invaluable internal coaching policy … Continue reading Reject Excuses: How to Coach your Team towards Positive Business Results

Coaching: Replace the word “But” with “And” — Boost team morale

Today’s blog post about coaching is going to be short and sweet. I wanted to share a very simple yet powerful tool for aligning team members towards a constructive, results-oriented performance culture. Here it is: replace the word “but” with “and” — at all times. Let me give you an example. Instead of coaching an employee by saying, “Kim, you did a great job at … Continue reading Coaching: Replace the word “But” with “And” — Boost team morale

How to use Mystery Shopping to grow your Retail Business

If you manage a retail business and have not yet implemented an internal mystery shop program, you are missing out on a major growth opportunity! Mystery shoppers (or “secret shoppers”) are basically people that get paid to enter a store and carry out a series of consumer tasks in attempt to analyze staff performance or site execution, depending on the business manager’s particular goals for that program. For … Continue reading How to use Mystery Shopping to grow your Retail Business