“Efficiency is doing the thing right.
Effectiveness is doing the right thing”
Retail marketing brings together a number of stakeholders - each pulling in a slightly different direction. The irony is that they all need each other.
Only by understanding and seeking Mutual Benefit can this relationship truly work.
Mutual Benefit – working in the retail world has led to some insightful observations about how shoppers, brands and retailers interact. There is an undeniable tension between these three stakeholders, though it’s a marriage that they all need to work.
Specifically, when working with brands, it seems to me that those brands that seek to understand the shopper, the retailer and the category in which they trade, have a far better chance of successfully implementing campaigns. These are brands that truly collaborate, rather than meet with the retailer to negotiate.
A brand, and indeed retailer, that explores an opportunity where both parties benefit is a client I'd like to work with. A brand that thinks beyond their own needs but to the partner. Only when this approach is adopted will a brand be a partner and not a supplier.
At Ninth Wave, we want to work with grown up brands and retailers - who recognise the value that each brings to the party - and where both seek to grow their business - for Mutual Benefit - its the only way forward!