What if you could peek into the mind of a seasoned sales and operations expert? We had the privilege of hosting Andy Morgan, a titan in the beauty and personal care industry with a 36-year-long career. Andy shared his wealth of knowledge with us, discussing his journey from operations to sales, his role at Revlon, and his strategies for understanding consumer needs. Andy's insights on product optimization and his decade-spanning career journey are a treasure trove of industry wisdom.
Ever wondered about the intricacies of working through brokers versus retailers? Andy demystifies this topic, sharing the pros and cons of each approach. We also delve into important metrics for each channel and the potential costs associated with leaving a channel. Together, we explored the turbulent world of product life cycles and how quickly trends can peak and fade. We pondered the role of marketing dollars and the impact of social media platforms like TikTok on product growth.
Managing retail demand is a game of chess, and Andy shares how a brand's digital presence can change the game. We discuss the delicate balance between having enough inventory for a promotional activity without tying up cash flow. Andy also provides valuable advice on transitioning customers when a product is discontinued, managing marketing investments, and balancing portfolios. He leaves us with a nugget of wisdom, advising his younger self to listen more and ask open-ended questions - a lesson we could all do well to remember. Join us for this insightful conversation with a true industry veteran.
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