New Product Selector
New Product Selector Calculator Explained:
(a) What is this? A process to assist guide you in selecting a new product.
(b) What does it tell me? This calculator is used to help guide you whether you should accept a new product. It uses seven simple questions to assess whether or not it makes sense for you to acceept a product or not. These are key questions that most sophisticated retailers would ask. It provides a high level of assessment and measurement only. Regard it as a guide.
(c) Why should I use it? This tool will increase the amount of science used in selecting new products. There is however, still an art in selecting a new product, this tool increases the chances of you selecting products that work. Having the right stock increases stock turn, consumer appeal and makes for a better business.
(d) Caution: If you are part of a brand that has a "core" or "madatory" range, disregard this calculator for products that are part of the Head Office program. Similarly, if the product is part of a plan-o-gram you should cease using this calculator. If the plan-o-gram has optional space, use this tool as a guide for products appropriate for the space.
(e) Disclaimer: This calculator is designed for use by Retailers operating in a Fast Moving Consumer Goods environment. It is not designed for specialty Retailers, nor is it designed for Retailers who provide primarily service related products. This calculator should not be used in isolation - you should consider all aspects of the business including but limited to, consumer appeal, competition, your fiscal position, price points and store location. Any decisions made regarding range are entirely your own decision. This tool is simply a guide.