Best Products Advances Plans to Emphasize Jewelry and Home Furnishings Assortments.RICHMOND, Va.--(BUSINESS WIRE)--March 12, 1996--Best Products Co., Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BEST) today said it is advancing plans to emphasize its jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. and home furnishings furnishings the extra type or quantity of hair on the head, tail, ears or legs, specified for a particular breed. For example, the feathers in setters, the beard in Bearded collies, the eyebrows in Schnauzers. assortments during 1996 with significant changes to its marketing program, merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. strategies and shopping process. The company outlined its plans in some areas of the business, but cited competitive reasons in declining to elaborate about others. Best Products said the changes are the result of customer feedback. In marketing, the company said it will expand direct mail promotions to customers and implement broadcast advertising during the second half of the year. These initiatives will be funded by the elimination of Best Products' annual fall catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. . The company said that while the catalog has been a valuable shopping tool for customers, it no longer serves as a strong competitive advantage. Best Products believes investing in other forms of customer communication will give it the ability to respond more quickly to changes in the marketplace, offer more compelling assortments and price merchandise more competitively. The company also announced it has named W.B. Doner & Company as its advertising agency of record. W.B. Doner will focus on the development and placement of broadcast advertising and advise the company on all aspects of its marketing program. In merchandising, Best Products is strengthening its position in jewelry and home furnishings by eliminating peripheral categories, such as home office electronics and selected toys. Best Products will maintain a presence in consumer electronics, which complement its home furnishings assortment assortment /as·sort·ment/ (ah-sort´ment) the random distribution of nonhomologous chromosomes to daughter cells in metaphase of the first meiotic division. as·sort·ment n. , and continue to offer pre-school and learning toys, which supplement its juvenile furniture assortment. The company, which had operated as a catalog showroom retailer since the late 1950s, began to transition into a jewelry and home furnishings specialty retailer in 1991. The advance comes as the result of changing consumer demands, a changing retail environment and a poor sales performance in 1995. Best Products, a specialty retailer offering category-dominant assortments of jewelry and home furnishings, operates 175 Best stores in 23 states. The company also operates 11 Best Jewelry stores and a nationwide mail-order service. CONTACT: Best Products Co., Inc. Frederick Kraegel, 804/261-2150 (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) Betsy Brod, 212/850-5600 or Ross Ross , Sir Ronald 1857-1932. British physician. He won a 1902 Nobel Prize for proving that malaria is transmitted to humans by the bite of the mosquito. Richardson, 804/261-2157 (Media Contacts) Stacy Berns, 212/850-5600 |
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