MarketSource: Powering Up the Retail Industry through Strategic Business Decisions
The advent of E-commerce and social media has radically changed the dynamics of the retail industry. While E-commerce companies are busy deploying disruptive technologies to take the market share away, brick-and-mortar stores must innovate at an equally rapid pace to sustain the competition. This competition has given rise to consumers who are more informed about the products than ever before. Retailers must first acknowledge this fact and work towards presenting a ‘human face’ to their sales, a factor where online sales starts encountering its limitations.
MarketSource, founded in 1975, is a strong believer in ‘consultative selling’. President Richard C. Haviland feels that this belief stands vindicated stronger than ever. Rising competition has made it imperative for the retailers, dealers and manufacturers to consistently maintain their brand identity, expand market coverage and enhance the customer experience. With its in-house research and experience spanning over decades, MarketSource helps its clients with custom sales solutions that meet their objectives, strengthen their market knowledge, and provide findings which help them to take strategic business decisions. Richard explains, “Each product has its own customer value proposition, which is why all of our programs are customized to the needs and budgets of our partners.”
Head Quartered in Alpharetta, Georgia, MarketSource employs a three-pronged approach to its retail solutions. It first creates a clear training message for the product or brand. Next, it develops a structured approach to deliver the message at the right frequency that ensures to drive
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greater retention. And finally, brings the message to life through role-plays, product demonstrations or customer interactions. The company considers this time proven approach its USP, something that can’t be matched by e-commerce companies. The company specializes in providing training on how to greet and engage a customer in a collaborative conversation. Pioneers in consultative selling, MarketSource thrives to create a better customer experience, which in turn, directly impacts the brand loyalty and increases the market share. The company delivers customized solutions based on client’s individual needs and budget. Its engagement process uncovers the opportunities for improvement and delivers the highest ROI for the client. The organization’s Geographic Information Services (GIS) group provides demographic coverage analysis which is used to optimize the deployment of sales professionals. Using advanced technology, the company's solutions undergo constant innovations and improvements during initial stages. Retail execution data is captured and thoroughly analyzed to create Business Intelligence reports that drive strategic business decisions and provide critical metrics. These proven methodologies, advanced software tools and years of experience make MarketSource a unique differentiator among its competitors.
During its initial years, the company focused its marketing strategies towards college students. But within a short span, the company’s marketing strategies for complex products evolved and it flourished while providing services to help retailers, dealers and CE manufacturers to sell effectively and efficiently. Adapting to the ever-changing nature of the retail industry, the company has evolved over a span of last 40 years. It has worked with several Fortune 500 companies as well as small start-ups, and designed retail solutions for hundreds of major brands and product categories from various industries, which include Consumer Electronics, Telecom, IT, Appliances, Automotive, and Financial Services.