Winning Marketing Plan for Stock Liquidation
Objectives of Winning Marketing plan for stock liquidation:
Stock Liquidation of products strategy is developed for the companies trying to dispose of the excess inventory in their stock. The primary objective is to dispose of inventory with a profit margin or break-even at least for some old products. Above all, the reason for doing so is to maximize profits versus any further investment of resources for updated stock.
Database Identification & its segmentation
In this phase building database from marketing research can be used. This will enable the targeted approach towards stock liquidation in targeted countries.
- The first phase of marketing research includes searching through the web. The database should be segment wise to enable the targeted strategy
- The second phase is introducing the company and services by cold calling to its target audience and to generate leads. This will also help in setting up a meeting for the third stage.
- The third phase is to go to market strategy which will enable to lock the insights gathered through the web and secondly building ecosystem around to acquire more contacts. The most important part is acquiring competitor pricing as well.
Segmentation of database on the basis of below matrices should be added in the database for results:
- Patterns of Use
- Price Sensitivity
- Brand Loyalty
- Contact numbers available
Acquiring Competitor Prices
The acquisition of competitors pricing based in countries you want to target and aligning your stock pricing for liquidation accordingly.
- For this, a marketing resource will go to markets and share the insights to activate the plan with competitive pricing.
- RFQ’s to Identified distributors and cold calling to identify the competition pricing
- Contacting online stores to place our products on e-stores on the profit-sharing model, will help to liquidate the stock at large.
Products and Solutions Categorizations
Products and solutions categorization on the basis of inventory available in stock. The plan to be followed is as:
- Insights on inventory list required to process the stock liquidation program
- Categorization into product types as per the available inventory
- Solutions based approach(Industry-wise) and marketing campaigns on it if the inventory list includes item, which helps in pushing any solution.
This includes bundling the products based on the inventory list available. In addition, the purpose of this plan is to dispose of items that are difficult to dispose of individually.
Mega Discount Offers
The mega discount offer by email marketing needs to be done but a plan ahead to push it with prices as well. For that local market research as per the pointers above is mandatory.
The mega offer with a good pricing strategy will enable distributors to acquire more stock if as per the need if they found competitive in both pricing and quality. Company representative needs to take sample products as well to showcase our best products.
E-Commerce Model for Disposing of inventory
The products should be displayed on targeted e-stores identified. This will enable both presence online and helps in disposing off the inventory.
- Identify the competitors showcasing their products on online stores in your targeted countries
- RFQ by these stores to understand the terms and conditions and build revenue model on that.
- Discounted items promotions
Distributions of Flyers
Flyers distribution to local distributors in targeted countries, on their showrooms, will help out to build awareness to visitors and distributors. The flyers will be based on mega discount offers and with pricing as well.
- Cold calling to the database, you have to fix meetings on the basis of the brand introduction and our mega discount offer.
- Segmentation of database as per the plan above
- Products & solutions segmentation
- Bundling Items based on the Inventory List
- Acquiring competition prices and offer based on pricing
- E-commerce Model Implementation as per the plan above
- Flyers Distribution
Cold Calling Script:
Hi [NAME], it’s Muhammad here calling from [XYZ]. I sent you an email last Thursday, did you have a chance to read it?
[PERSONALIZE BASED ON RESPONSE]
The reason I emailed is that I noticed you’re in charge of the sales processes and operations at [COMPANY]. Is that right?
The reason I’m calling is to get some time on your calendar to discuss the products & services we are offering and a special discount for you…
* You will receive the latest news and updates on your favorite celebrities!