True Value has a plan to rearrange the structure of its supply chains. This change is twofold in the fact things will differ from the top down and the bottom up at the same time. These the benefits of these changes is intended to effect not just the chain locations but the logistics and global distribution network as well. When all is said and done the end results promise to boost profits for existing retailers and get the ball rolling for the opening of even more stores in the Destination True Value Format. The overlooking the shakeup and wake up revival is Kenneth Goodgame.
Coming in from Ace Hardware, Goodgame replaces retiring Senior Vice President and Chief Marketing Officer Mike Clark. Together, the revenue generating Destination True Value model and the new executive plan to strengthen unite each and every one of the company’s 4,000 locations. The power to do this is in his understanding command of the details.
In this case, as in many cases, the profit is in the pricing of merchandise. What this means on the sales floor for the business is to expect not so many opening price points when it comes to assortments. As Kenneth explains it, “No one makes money on opening-price-point product,” This translates to offering a better variety of mid-price-point and even higher-price-point products to customers. In doing this True Value sets itself apart from other discount retailers in the market.
Under his leadership, Goodgame intends to execute a four-point pricing strategy whose design is to reel in every level of customer. This system is constructed from everyday low pricing for the bulk sales, comparative pricing for national brands side by side to private labels and “Pro Paks” when possible. Honestly, the data is still being collected to measure the effectiveness of this plan. A full report and analysis is in the works and should proof most helpful either way it goes.
This new plan and new VP are just icing on the cake that is a previous year of serious profit and growth. The idea is to go all out and all in to bring choice, quality and quantity to True Value customers like never before. Twenty years of experience in the business and a Bachelors of Science in Marketing from the University of Tennessee says the smart money is on Goodgame.