Turn the art into a systematic science to generate new streams of profits
February 10, 2006
Editor's Note: D. Bruce Merrifield Jr. started his strategic consulting and business speaking practice, Merrifield Consulting Group, in 1980. He has focused historically and narrowly on how to maximize the effectiveness of independent distribution channels. Merrifield recently discussed innovation management for distributors during an MDM-sponsored audio conference in January, excerpts of which follow below.
Starbucks: Why are people who can't even afford the product going in there and having a $1,500 a year habit amazes me. But you realize that when you take a commodity like a coffee bean and you buy it by the wholesale bag – and prices are super competitive and margins stink – you could try to put it in smaller bags and put a ...