Mantaining a strong vendor relationship is an important method of developing a sustainable competitive advantage. Like a good mariage,strategic partnerships require a lot of work.
Relationships between retailers and vendors are oftem based on "splitting up a profit pie" Boht parties may be interesed exclusively in their profit and are unconcerned about the other party's welfare.This type of relationship is a win-lose one.
To develop a strategic partnershp that will lead to a competitive advantage, the relailer and vendor must commit a long-term busines reltionship in which partners make significants investiments to improve both partie's profitability. Thus a strategic partnership is a win-win relationship.Both parties benefit because the size of pie has increased
Market research has proven that the primary thing that womman wants as people and as cpnsumer is relationship.Women prefer parsonal one-to one as a way to finding solutions to business problems andthis is oftem how they discover products as consumers.wommen are also holistic in their aproach to relationship meaning that they are less likely tham men to comparmentalize a brand or a company solely achecording to what it has to offer them in a specific situation.They want to understand the big picture;what the brand stand foron the whole,if the brand's image philosophy and/or ethics are in sync whith their own.they want to feel a deeper, more layered condition
Lets take a look at these five key elements in woman as cosumers -Respect,Individuality-stress relief,Connection, and Relationship
What Women Want as Consumes:
The five most important elements in a branding program for women are:
Respect:Women are well-informed.they research products well before buying.The read ingredients much more closely tham mem to make sure there are not harmfull elements ,and are very carreful about desisitions.
Acknowledge that they are inteligent and informed,and they will respect your brand
Stress relief
In numerous studies stress has been shown to be women's number one enemy.Women today feeloverwhelmed by taking na equal role as breadwinner and primary nurturer of the family
Offer solutions,or at least understanding,of the tensions that prey on them daily.
Connection
Women base most of their decision making on emotions as opposed to rational elements.Studies have shown that they don't like reading list of numbers specs and stads.They want to know what product will do for them,personaly.Find out what makes your woman tick
Relationship
Women want dialoge,not just a transation.Women are looking for brands to trust and will oftem remain extremaly loyal to a brand that has built on their trust consistently-ever beyond price.part of the relationship a woman has with a brand representing something important to her in this life.Brands that take a sincere stand for something and demostrated ,concrete terms will do well with wome