I’ve written probably way more times than you want to hear about how it’s been a good time to focus on brand building, distribution, and gross margin dollars rather than generating big sales increases that can only be realized in the short term with resulting long term damage to a business. And I’ve sympathized with public companies who’d like to take this approach, but have a hard time doing it because of Wall Street growth expectations.
- Slashing off price business.
- Controlling pricing and distribution and closing accounts that won’t cooperate.
- Reducing G&A expenses but increasing spending for brand building and demand generation.
- Improving quality and building internal product development capabilities.
- Focusing on retail presentation.
- Prioritizing retailers with whom they think they can grow their business. Opening new accounts will be very selective.