Introduction
For any business to thrive, it needs to stay competitive in its respective niche market and at the same time, maintain relevance with its desired audience. The alcohol industry is no different. In the battle for supremacy and utmost relevance, distributors have, as they should, become very meticulous about the suppliers they choose to work with. Based on a survey conducted by Tamarron Consulting, the main things distributors are scouting for nowadays are in-market presence and innovation discipline from large suppliers.
What does in-market presence mean?
To understand what the distributors want, we need to first decipher what in-market presence means. The term, in this context, refers to the visibility of a supplier’s products in the current market, their brand recognition, and their interactive position with consumers. Simply put, in-market presence is how noticeable and popular a brand or a supplier is among the desired customer group.
The importance of having a strong in-market presence isn’t something that can be underestimated. This plays a pivotal role in a brand’s success because the more visible the products are, the more sales potential exists. Having a strong in-market presence also contributes to piquing the interest of potential consumers, making it easier to increase brand awareness and influence purchasing decisions.
Why the Emphasis on Innovation Discipline?
Innovation discipline sounds like a very technical term but really, it isn’t. It is a concept that revolves around being consistent in coming up with new and fresh ideas for products and processes. It not only involves generating ideas but also the implementation and strategic utilisation of these ideas for the betterment of the product or the brand.
In any industry, the importance of constant innovation cannot be stressed enough; this is particularly true for large suppliers in the alcohol industry. In a dynamic field like this, where trends come and go, and tastes evolve at a rapid rate, standing out from the crowd requires not just adaptation, but also innovation. Distributors are aware of this, and as such, they’re keen on collaborating with suppliers that have a keen eye for innovation and are disciplined enough to keep it constant and functional.
Detailed Insight into The Tamarron Survey
Tamarron Consulting conducts annual surveys focusing on distributor and supplier relationships in the alcohol industry. They are particularly interested in the factors that strengthen these relationships. In their latest survey, they found out that distributors hold in-market presence and innovation discipline in very high regard when looking for large suppliers to work with.
When asked to rank the attributes they focus on when choosing a large supplier, many respondents ranked in-market presence in the top three. This isn’t very surprising considering its undeniable role in ensuring visibility and potential for sales.
In addition to that, the respondents also highly rated innovation discipline. The ability to constantly innovate and improve is seen as a significant asset. It enables the producers to stay relevant and keep up with the continually evolving market demands and trends.
Looking Forward
The results of the survey paint a clear picture of the current situation of the alcohol industry from a distributor’s perspective. Not only does it highlight what they’re looking for in large suppliers, but also the importance of adapting and evolving in-market presence and innovation discipline in today’s highly competitive market.
Whether you are a large supplier looking to attract more distributors or a small supplier aiming to grow your business, the key takeaway is this: ensure your products are visible in the market and don’t stop innovating. This not only boosts your appeal to distributors but ensures your business remains relevant and competitive.
