President and CEO, Steve Frawley, speaks at National Hardware Show.
PORTLAND, Maine - May 06, 2009 - Marketing strategies for tough times.
That's one of the points made by Steve Frawley, CEO of Emery-Waterhouse, during his presentation "Marketing successfully during a recession" at the North American Retail Hardware Association's (NRHA's) Village Stage.
, who has been with the Portland,Maine - based hardlines distributor since 1986 made a number of key points about operating a successful business in hard time.
e said, the home product and home improvement industry continues to be an industry full of opportunities, no matter what you might read.
And that in today's market, companies need to focus on limited number of initiatives, as opposed to scattering their attention and resources.
"It's not business as usual," said Frawley
"That doesn't work.
If you're going to hunker down and hope that the world is going to come back the way it was yesterday -- that's not going to happen.
presented the audience assembled in the central lobby of the national Hardware Show with some concrete advice for difficult times.
Adjust product assortments - According to Frawley
, products that offer reliability, durability, safety and performance have a long-term advantage in the market.
"We think most of our customers should be narrower and deeper," he
Stress market share - His
fourth rule for marketing in a recession, Frawley
said now is a good time to upgrade management talent and invest in strong sales teams as companies are in a battle for market share and survival, he
Frawley's idea of marketing relies heavily insight comes from the development of real-time, ground-level intelligence about what is happening to customers and suppliers, he
60-minute presentation, Frawley
repeatedly pointed to the long-term positive outlook for the home product and home improvement industry, which he
described as large, essential and growing.
also pointed to the independent dealer to be particularly well suited in this industry.
"There are fewer cookie cutter chains out there," he
said, pointing to the demise of Circuit City
and the long-term trend of personalization in retail.
"I think it's a good time to be an independent retailer when you have the time to understand your customers and know your customers."
Emery-Waterhouse dates back to 1842.
In the 2009 economic challenge, Emery is focusing on three initiatives: executing category solutions for customers; helping customers maintain independence while growing their business; and increasing building material sales with existing customers.
"Those are just examples of what were mean when we say: 'Don't spread yourself all over the place,'" Frawley