STORE PROGRAMS
Big-box stores are taking note, con-
tinually increasing the number of price
zones across their market territories.
Consequently, the number of items priced
differently between price zones is increasing.
Trends like these are driving Blish-
Mize to become even more progressive in
how it helps you stay competitive, says
Blish-Mize Vice President of Marketing
Chuck Short.
“We’re operating in a much more edu-
cated environment, where almost everyone
has a smartphone and quick access to
almost any product pricing information
they could want,” he says.
It’s also one of Dan Drake’s main moti-
vations in his role as purchasing manager
at RAKS Building Supply and why he
often relies on market-specific pricing
data he receives from the Blish-Mize
Retail Pricing System (RPS) program.
Drake, who monitors pricing for all
operations in the four-store chain based in
Los Lunas, N.M., says his sales represen-
tative, Aubrey Cannon, is diligent in price
shopping the competition in his market.
By integrating national, regional and local
research, the RPS program suggests pricing
and margins for items using a complex
The Right Price
Retail Pricing System a Blueprint for Retailers
W
hen it comes to
pricing, today’s
consumers
are becoming more and
more savvy.
With pricing
information available on
many retailers’ websites,
finding the best deal is
often as easy as the click
of a mouse.
Pricing Strategies that Sell
Here are some ways you can let consumers know you have
the right price.
Establish a Price Image
First, take a step back and look at the big picture. What brand
image do you want for your operation when it comes to pricing?
One of the best ways to create a competitive price image is by
using the Priced Right Everyday!® signage available from Blish-
Mize. This signage, which you can put on your store front and
on endcap signage throughout the store, will reinforce your
price message.
Tell Your Customers
Go beyond the physical store level to reach customers. The
On-Demand advertising program available through Blish-Mize
allows you to create a variety of printed pieces, such as circulars
and postcards, you can use to broadcast your low prices. By
using the AdViewer function of On-Demand advertising, you can
post your circular in online venues such as your store’s website
and Facebook page. The more places you are able to reinforce
your low-price message, the more likely consumers are to
remember it.
Implement Price Matching
One of the best ways to create a low-price image is to offer
to match a competitor’s price. It’s important to create written
guidelines for your price-matching guarantee and post it around
the store to remind your customers and employees that you
do price-match.
Establish Proprietary Brands
Offer brands customers can’t find anywhere else, such as the
Hardware House line from Blish-Mize. A proprietary line of
products, whether it’s in bath faucets, lighting fixtures or door
hardware, reduces your customers’ ability to price shop on
exact items. You can emphasize the quality of Hardware House
products while showing their competitive price level. In addition,
Hardware House allows you to maintain a good margin.
30
Spring 2014 •
Hardlines
Strategies
