Episode 22: The Five P's of CPG: A Roadmap to Growth with Marka Basile of Grocery Geeks

In this episode of Wynn's Kitchen podcast, host Wynn Austin speaks with Marka Basile of Grocery Geeks about the journey of emerging brands in the food and consumer packaged goods (CPG) industry. 

They discuss the importance of starting in farmer's markets, navigating distribution challenges, and the critical role of marketing in driving sales. Marka shares insights on the evolving retail landscape, the emotional aspects of entrepreneurship, and strategies for success in a competitive market.

 In this conversation, Marka Basile and Wynn Austin discuss the complexities of running a food business, emphasizing the importance of navigating challenges, understanding pricing strategies, and the significance of the five P's of CPG. 

They share insights on building long-term client relationships, managing promotions, and knowing when to work with a broker. The discussion also highlights the importance of market demand and staying focused in a competitive landscape, with real-life success stories illustrating the journey of growth in the food industry.

Takeaways

• Emerging brands often start in farmer's markets to test their products.
• Distribution is a significant challenge for new brands, requiring strategic planning.
• Marketing budgets and consumer engagement are crucial for success.
• Retailers are increasingly integrating smaller natural products into their offerings.
• The CPG industry is becoming more competitive, making it harder for new brands to enter.
• Understanding the sales dynamics is essential for moving products off the shelf.
• Emotional attachment to products can cloud decision-making for entrepreneurs.
• Building relationships with retailers is key to gaining shelf space.
• Successful brands need to focus on reorders rather than just initial sales.
• Learning from mistakes and adapting strategies is vital for growth. You can talk through issues and come out the other side with a better perspective.
• Filling out forms for distributors can be incredibly complicated.
• Understanding pricing strategies is crucial for success in retail.
• The power of penny profits can significantly impact your margins.
• It's essential to have a solid pricing structure to avoid losing money.
• The five P's of CPG (Product, Price, Place, Promotion, People) are vital for business success.
• Building long-term relationships with clients can lead to sustained growth.
• Promotions and managing retailer relationships require constant attention.
• Knowing when to work with a broker can accelerate your market entry.
• Market demand should be validated before investing heavily in product development.

To connect with Marka and learn more about her services at Grocery Geeks check out the following links:

Website: https://grocerygeeks.net/

Instagram: Grocery Geeks

If you enjoyed this episode, please be sure to share and subscribe to the podcast on apple podcast, spotify, or i heart radio. Please leave us a review on apple to help others like you, find our podcast.

To order our delicous & Keto Friendly Asian sauces & healthy recipes, please feel free to check out our website - www.wynnskitchen.com

You can also connect with me on Instagram at Wynn’s Kitchen, that’s my social media of choice. I’m on there daily, sharing what I’m up to and what I’m cooking up!

Thank you again for listening and until next time, keep cooking up your dreams. You’ll never know when it turns into reality.

xoxo,
Wynn