Behind The Pursuit: Expanding the Brand's Portfolio
Having a variety of SKUs or choices in a brand’s portfolio is a great thing, right? You can reach a multitude of customers with multiple entry points or stepping blocks for them to learn more about you. However, the biggest challenges folks don’t really see come after the product development: continuously communicating with distributors why a new SKU should be carried, shelf space competition, ongoing marketing material about the new SKUs. The behind-the-scenes work can really add up, and is it worth it?
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Show Notes
Having a variety of SKUs or choices in a brand’s portfolio is a great thing, right? You can reach a multitude of customers with multiple entry points or stepping blocks for them to learn more about you. However, the biggest challenges folks don’t really see come after the product development: continuously communicating with distributors why a new SKU should be carried, shelf space competition, ongoing marketing material about the new SKUs. The behind-the-scenes work can really add up, and is it worth it?
Today, we dive in to the topic of expanding the portfolio.
We hit on:
- Is there a life cycle or cadence to how long to carry a set of SKUs before adding new ones?
- Does having too many SKUs dilute the attention for your core products?
- Are there certain SKU expansions that are necessary to reach more mass consumption?
- How has the reception been in markets since the release of Oak Collection?
- Do distributors give you more attention because you have more products in your lineup?
and much more.
For questions or topic requests on upcoming episodes, email us at [email protected].
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