Hackett adds that a good product categorizing tool which defines important similarities and points of
differentiation will help a retailer in the following ways: • Determine which items fall into the good, better, and best within each category and sub - category • Develop guidelines for choosing new products to add to their assortment • Identifying
brands that should be expanded or contracted based on growth and strength trends of each
brand within their assigned category • Determine how much space should be allotted to each category based on space to sales movement • Determine merchandise locations and prioritize
brand positioning • Develop advertising strategies based on these trends • Build a story line for the products in their store • Provide training materials for staff to communicate these categories to the consumer and the differences between them Here's a few more tips from Hackett: Categorize: A great buyer develops
strong tools to categorize and sub-categorize their business.
The key to a successful
brand, and ultimately true
differentiation, is an in - depth understanding of client requirements, an effective message and of course, a
strong marketing strategy, all of which should be neatly aligned around the values of the firm.