As retailers have become powerful and global, they have increasingly focused on their own brands at the expense of manufacturer brands Rather than simply selling on price, retailers have transformed private labels into brands Consequently, manufacturers such as Johnson Johnson, Nestle, and Procter Gamble now compete with their largest customers major retail chains like Carrefour, CVS, Tesco, and Wal Mart The growth in private labels has huge implications for managers on both sides Yet, brand manufacturers still cling to their outdated assumptions about private labels In Private Label Strategy How to Meet the Store Brand Challenge, Nirmalya Kumar and Jan Benedict E.M Steenkamp describe the new strategies for private labels that retailers are using, and challenge brand manufacturers to develop an effective response Most important, they lay out actionable strategies for competing against or collaborating with private label purveyors Packed with detailed international case studies, valuable visuals, and hands on tools, Private Label Strategy enables managers to navigate profitably in this radically altered landscape....
|Title||:||Private Label Strategy: How to Meet the Store Brand Challenge|
|Publisher||:||Harvard Business Review Press 1 edition February 13, 2007|
|Number of Pages||:||288 pages|
|File Size||:||788 KB|
|Status||:||Available For Download|
|Last checked||:||21 Minutes ago!|
Private Label Strategy: How to Meet the Store Brand Challenge Reviews
Gave my students the business with this text. Great book. If you are studying private brands and private labels.
I am an incessant reader of business books and must say this is one of the best I've ever read. The statistics and charts and graphs in this book alone are worth the cost. WalMart's private label brands represent over 40% of Wal-Mart's overall business and they are not alone as a mass chain. As national chains develop critical mass, AG Lafley at P&G recognizes that the power is beginning to shift to the entity which owns the customer- the retailer-- and he's making major changes in P&G's business strategy to continue to compete. The private label business has become extremely competitive and requires significant analysis in how to compete and which categories to compete in- all based on market trends at the moment. The authors have done an incredible job of breaking it all down and providing an actual path to understand how market dynamics affect what type of private labeling strategy should be taken.
This book if you work in the industry won't tell you anything ground breaking or new, but it's good as a reminder of what you know already. The one exception to this comment is the insight that in studies done, even when private label is actively courted by manufacturers and supported alongside their brand/s there is no evidence to suggest there is a closer or longer term relationship with the retailer. Food for thought.
If you are in retail business, this book needs to be on your shelf. This textbook lays out the private label strategy in many industries in retail. It provides a real thought process of how to work against and wotk with private label.
Worldwide private label sales in 2007 were $1 trillion, and growing. This has been abetted by consolidation within the retail industry - eg. Wal-Mart's $126 billion in private label sales exceeds Nestle's (largest manufacturer) total sales of $75 billion.
In the old days, black and white stenciled labels clearly marked generic brands. Those days are gone. Today many private-label goods are more sophisticated than their competitors' parallel products. The growing popularity of private brands has changed the branding, retailing and product development marketplace, which was already shifting in response to globalization, faster trend development and advanced consumerism. Nirmalya Kumar and Jan-Benedict E. M. Steenkamp have a solid understanding of these developments. They buttress their explanations with interesting case studies from leading merchants and manufacturers. Retailing is an exciting business, and the authors bring forward the right mix of research and specifics to make a lively case for private labels. getAbstract recommends this to anyone seriously interested in retailing, the changing shape of consumer society and, of course, shopping.
I always thought that store brands were just manufacturer brands that had different labels on them. But Private Label Strategy: How to Meet the Store Brand Challenge by Nirmalya Kumar and Jan-Benedict E. M. Steenkamp opened my eyes to what exactly goes on in the world of private label branding. And it definitely made my Saturday morning shopping trip more interesting today...