Wikipedia says the term Value Add speaks to difference between the cost to produce a good or service and the sale price. My economics professor in college, “Professor Humdrum,” probably defined it in the same calculating boring and repetitious way (he was good about that). Nothing against monotony, it just seems to go on and on.
Years later in the real world, the term Value Add became less synonymous with economic theory and definition and more about a handy catch phrase that basically says, “Hey, I took this commodity and added something to it so you would choose my commodity over that other guys commodity.” Care to see this in a picture?
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Value Added |
In the Foodservice world, manufacturers, operators and distributors are constantly looking to add value to their products: to set them apart through some kind of differentiation. Trade Promotion solutions providers are no different. No one wants to be just another potato. We want to be a potato head. Oh wait, that did not come out right.
You basically have seven steps to accomplish when it comes to trade promotion. If you ever want to know more in-depth content related to these seven steps, I suggest you read my colleague Stacy Jackson’s blog on the Seven Critical Steps of trade promotion Management. It is really a great peek into the important steps.
The point in mentioning these steps is to illustrate how important it is to be able to carve each step apart and consider that each step is valuable, and the ability to string the pieces together and offer a cohesive solution for our customers, is truly the ultimate in value add.
Consider the total, or end up getting mashed
Mashed! Yip, I came up with that one all by myself. The ability for a trade promotion management company to be able to piece data acquisition together with contract management and then on to analytics, handling each piece in between, is the answer to taking a valuable piece (like acquiring data) and turning it into a value added solution that manufactures, operators and even distributors can understand.
Do not discount any trading partner
A really important factor to consider in trade promotion management is the vital role that each trading partner plays. As a manufacturer for instance, if you are put in charge of Marketing in Foodservice and you attempt to assemble your marketing strategy without a mind for how the operator and distributor will receive the message, you are writing yourself a short ticket to the unemployment line.
The same applies to trade promotion Management. Answers Systems prides itself in considering the needs of the operator the distributor and the manufacturer in the delivery of our products and services. ContractPro, our Manufacturer product and ValuTrak, our operator focused solution both have all three trading partners in mind and all offers benefits to each party. How is that for a value-add for our products and services?
In Summary. . . Keep your eyes peeled
You know how hard it is to come up with Potato Puns? Try it sometime.
So if you are looking for help in assembling your Foodservice trade promotion Management, start with a call to Answers Systems. We will help you look at your seven critical steps, build a plan for improvement and get your team moving toward operational excellence. Let us help clarify the difference between “solutions” in the marketplace that offer some valuable pieces of the trade promotion puzzle and value added answers that rounds out the loop.
Want to embrace the issue, consider the solution and really improve your organization’s trade promotion management? Contact us. Answers Systems' ContractPro and ValuTrak solutions are software and outsourced services designed for the unique and specific needs of the foodservice industry.