It’s critical that your frame brands reflect your patient demographic, so how do you ensure you get your Range Plan or frame brand mix right?
There are three main parts to getting your Range Plan right:
1. Understanding your current arrangement.
Who is your key product decision-maker and what is the current ranging process? Having a dedicated person ultimately responsible for product decisions increases accountability (but doesn’t mean others can’t be involved in frame selection still).
2. Analysing the facts and assessing future possibilities.
How much of your displayed product is converted into sales, and does your sales history reflect your sales potential? What you have always sold may be different to what you could sell (if your demographic has changed over the years and you refined your brand mix). It’s all about remaining relevant to your patients.
3. Deciding on your future strategy.
What brands should you consider adding or discontinuing and why, how will you clear older stock as it ages, what is your product pricing strategy based on? Having the right mix of brands at the right progressive price points, and knowing how to optimise sell-price every time are both key to your success
Getting your product offer right can deliver some positive business outcomes including the following:
- Decreasing stock holding and valueands,
- Improving sales and conversion rate
- Adding more discipline to purchasing patterns
- Improving product appeal and choice for patients
- Controlling spend and freeing up cash flow!
Check out the following links for more resources to help build the best Range Plan you can for your patients.
Determining your patient demographic
Assessing your product mix
Frame Style Guide
Creating your range plan
