In my previous post I mentioned about Keith Cunningham’s seminar. The lessons below are taken from his training and applied explicitly to retail purchasing.

1. First and foremost: it’s not about the product – some purchasing professional have an obsession with the product they are buying (or category of products). They think that if they personally like it when the item gets into to market/shelf the marketplace/costumer will love it too and it will sell like crazy. They fall in love with the product and forget to get market data or to make market research for that product/ category to back up what they have in their gut. They believe themselves a focus group when in fact they are not a relevant illustration/sample of the market. The key point Cunningham made: a great product does not necessarily equal money. It’s never what you do; it’s how you do it that will determine your success. And how you do it is about management, in this case product/category management. Yes, it’s not about the product, it’s about the market demand and the whole marketing process you use to communicate that product to the costumer.

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