The second day of POP Asia 2007, currently underway in the Capital, kickstarted with a discussion on ‘Strategic Category Management’. Peter Reynolds, Director of Marketing Asia Pacific, Glendinning Management Consultants shared his insights on the topic.
He explained Category Management from the strategic as well as the traditional point of view. Drawing comparisons between the two in the traditional approach, according to him, the supplier’s role was like that of an analyst, whereas in the strategic approach the supplier’s role was that of a transformer. The traditional approach is being looked at a relatively smaller scale unlike the strategic approach. If the orientation in the traditional approach is about the past then in the strategic approach it is about the near future.
Category definition, according to Reynolds, was extremely important. He said, “Segment definition can help or hinder purchases. Understanding the segment allows you to do analysis. Only accurate segmentation can increase the sales.”
The next session focused on HyperCity. Andrew Levermore, CEO, HyperCity Retail (India) Pvt Ltd, shared his perspective on ‘Creating an international experience in India-The HyperCity Example’. Levermore’s presentation predominantly focused on the innovations that HyperCity has done in India.
“Give customers what they want, instead of what you think they want. Give them what they want before you give suppliers what they want,” he said.
Speaking on ‘Behavioural Merchandising and Digital Signage Advertising’, Steven Keith Platt, Director and Research Fellow, Platt Retail Institute, said, “The essence of retail is on building brand equity.”
Throughout his presentation Platt highlighted on Digital Communication Network (DCN). While defining DCN, Platt said, “Digital Communication Network is a proven technology that enhances shopping experience and builds brand equity. If executed correctly, DCN can impact in-store experience and lift sales.”
Elaborating more on the merits of Digital Communication Network, Platt said, “DCN can impact brand equity, which results in increasing loyalty by building brand awareness, brand associations and brand reinforcement.”
He defined behaviorial merchandising as a method for understanding, predicting and influencing consumer behaviour. According to him, “The behavioural merchandising process can be visualised as a closed loop, intelligent content system.”