Page 7 of The Importance of Being Emma
I started with a brief review of our markets and competitive position. I listed the emerging trends in consumer demographics and buying behaviours and other factors, such as some pending EU food legislation which would adversely affect one of our longest-running lines.
‘Any questions at this stage?’ I asked.
Everyone was silent. Dad had his head in his hands, as if the picture I’d painted was all too much for him. Then Mark, who’d been scribbling notes throughout my presentation, leaned forward. I tensed; somehow I knew a lecture was on its way.
‘Your analysis is too limited,’ he said. ‘You need to look at competition in a broader sense. For example, what are the trends in eating out as opposed to staying in and cooking with Highbury Foods products? And your focus is all UK, you should be selling world-wide. Expat communities would be an ideal target market for your traditional English product lines.’
‘Such as Gentleman’s Relish,’ Terry said, with a wicked grin. ‘Now where did I see that mentioned in the press recently?’
I closed my eyes for a moment and debated which of the two to castrate first, metaphorically speaking. I decided to ignore Terry and deal with Mark.
‘I assumed the trends in eating out would reflect disposable income and therefore be linked to inflation and the other general economic outlook forecasts.’ I selected a page and held it up. ‘Those figures were on slide five, as you can see.’
Mark frowned. ‘That’s OK at this level. But when you get down to the detailed planning, you need to look at something like the Mintel reports. Remember when I did my MBA at Ashridge? As an Alumni member, I can access all sorts of business information at no cost. Just let me know when you’re ready and I’ll take you there for the day.’
‘How kind,’ I said, feeling about ten years old. ‘Shall we move on?’
I squared my shoulders and prepared for battle. I was about to step on people’s toes big time, including Dad’s. ‘Corporate image. What’s our strapline?’
‘Purveyor of traditional foods for the discerning palate,’ came the chorus from everyone except Mark and Harriet.
‘Rather a mouthful, isn’t it? And can anyone under sixty relate to it?’
Dad blanched. ‘You’re not going to change it, are you?’
‘Not yet. But I would like to commission some research into corporate image, among other things, for our main product range.’ I paused. ‘Betty’s Best.’
There was a sharp intake of breath around the table.
‘Betty’s Best?’ Batty whispered, as though uttering something sacred.
‘Named after my grandmother,’ Dad said to Harriet, who was looking baffled. ‘Our very first product, fifty-two years ago, was Betty’s Best Seville Marmalade. Since then, the range has expanded to almost sixty products and is still going strong.’
I lifted my chin. ‘But, as we heard earlier, not as strong as it should be. Philip, remind us of the sales and profit figures for Betty’s Best division.’
‘Certainly, Emma.’ Philip gave me a knowing look and shuffled his papers. ‘Sales two percent down in the last quarter, mainly in the South-East, and operating profit down five percent, due to some aggressive discounting by key distributors.’
Dad sighed. ‘Yes, Mark picked up on that and Terry agreed to negotiate more favourable terms.’
‘But it’s getting more and more difficult to hold the price, Henry,’ Terry said in a whingeing tone. ‘Betty’s Best seems to have lost some of its appeal, or maybe its loyal customers are dying off.’
I couldn’t help a little smile of triumph. ‘Exactly. Now I’m not saying we get rid of this range, far from it. It’s still our main cash cow, in spite of the heavy discounting. What I want is a new range brought in to appeal to a customer segment that we’re currently neglecting. If you turn to page twelve in the presentation . . . ’
I’d mocked up a picture showing a very attractive, smartly dressed, young-to-middle-aged blonde at a well-equipped kitchen table, a far cry from homely old Betty and her rolling pin. And underneath I’d used Word Art for the name of the new product range. Except — oh, shit.
Philip’s face lit up. ‘Victoria’s Secret? Isn’t that—’
I felt myself go red. ‘A US lingerie company? Yes. This is meant to say Victoria’s Secret Recipes, but the last word has gone missing somehow.’
To my left, Mark said quietly, ‘It’s a basic — read through your material before you present it.’
I took a deep breath. Keep calm, retain presence. ‘The name’s not important, it was just to convey the sort of positioning I’m after. The smart woman of today, single or married, it doesn’t matter, juggling a job and/or family with frequent entertaining. She needs a helping hand in the kitchen but wants to give the impression she’s made everything herself. I want to re-market Betty’s Best to give her products that need the minimum of preparation, with recipes for sophisticated ways of using them. Her guests will think she’s done it all herself. That’sVictoria’s Secret. Or something,’ I added, making a mental note to find an alternative to Victoria as soon as possible.
Philip beamed at me. ‘Marvellous, Emma.’
‘I can certainly identify with Victoria’s situation,’ Penny said. ‘I think it’s a great idea.’
Terry chuckled. ‘Maybe that US company would be interested in a joint marketing campaign. Victoria, in her kitchen, with our products and dressed in their lingerie. Could appeal to another untapped market, men aged anywhere between twenty and seventy.’
