Spring 2014 Hardlines Strategies

STORE PROGRAMS

matrix that factors in each item’s individual characteristics such as sales velocity, consumer price awareness and more. “It helps us understand what’s out there, but gives us the flexibility to adjust as we see fit,” Drake says. While RPS gives you a comprehensive look at your market, it is fully customizable; you always have the final say in adjusting your pricing as much as you desire. “We can customize an RPS for each customer based on that customer’s mar- ketplace and help determine a pricing strategy that makes sense,” Short says. “We then establish some margin goals for that trade territory and get our system set

up with those goals—down to the indi- vidual item if that customer desires.” Indeed, to be successful you not only must make sure you are priced competitively with other stores in your market, but also have to ensure you are making margin dollars. For guidance with striking that pricing balance, many Blish-Mize customers like Drake turn to the RPS program. The com- prehensive price strategy helps him price every item for his stores so it not only main- tains its edge against the competition, but also earns the maximum margin potential on all the items it sells. That’s also been the case for Ken Owens, manager of Century Lumber in Torrington, Wyo., who has been working

with Blish-Mize and using the RPS pro- gram since the operation moved to a new building about five years ago. “Our Blish-Mize sales rep, Scott Leech, worked with us to set up the RPS program and still helps with price shopping in our market,” he says. Century Lumber has several competi- tors located within a 30-mile radius of the 16,000-square-foot operation. Owens says Century Lumber remains price competi- tive because he can work with a suggested retail price for a particular item the RPS program sets, but has the flexibility to raise or lower its price to gain margin. “The RPS program is a very valuable tool,” Owens says. “If you aren’t tak- ing advantage of it, you really should. It gives you the flexibility to be sharp in the marketplace as far as price goes.” For more information, speak with your Sales Representative or your Regional Sales Manager.

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To be successful you not only must make sure you are priced competitively with other stores in your market, but also have to ensure you are making margin dollars.

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32 Spring 2014 • Hardlines Strategies