Therapedic Says it Offers Strong Alternative
David Perry -- Furniture Today, September 29, 2011
NAPLES, Fla. - A tough bedding marketplace is playing to the advantage of Top 10 bedding producer Therapedic, company executives said here at their annual meeting.
Gerry Borreggine, CEO and president, said the Therapedic brand is "increasingly strong and increasingly vibrant" thanks to key retail partnerships, a growing portfolio of sleep accessories products, smart marketing and savvy public relations efforts.
The group is using its positioning as a provider of products with superior prices and values to carve out a niche in the market, Borreggine said.
"We are reaffirming our strengths and recognizing our capabilities," he said in his address to the group. "Our goal is to pursue an alternative brand strategy. Therapedic wants to be the No. 1 alternative brand. We want to be the unquestioned No. 1 brand alternative. When the ‘S' brands tell their retailers ‘no,' I want those retailers to think of Therapedic."
The shaky economy favors Therapedic, Borreggine asserted.
"In times like these," he said, "alternatives play very well with retailers and consumers. Things aren't working in our economy. People are out of work. They are looking for alternatives. What is the alternative? Therapedic is the alternative."
Therapedic licensees from around the world and across the United States gathered at the Ritz-Carlton here for three days of meetings and networking sessions that included previews of new products and promotions the group is developing.
Borreggine told the licensees that an entrepreneurial spirit thrives in the group. The group has made progress in "playing on the same song sheet," and further improvements in that arena will yield "a better response from our retail customers," he said.
Norman Rosenblatt, Therapedic's chairman, said the group has done a good job of maintaining sales in the face of significant raw material price hikes, but acknowledged that profitability has suffered in that climate.
Like Borreggine, he encouraged the licensees to work in concert. "The strength of the wolf is in the pack," he said. "The strength of the licensees is in the group - not in groups."
Stan Steinreich, president of Steinreich Communications, the public relations group for Therapedic, reviewed coverage in national consumer media outlets that Therapedic has received in recent months. He said Therapedic has generated 353 million media impressions thus far this year, a 52% increase over last year.
Bob Lietz, president of Advertising Concepts of America, previewed several new television commercials created for Therapedic, while Regina Dinning, director of new business development for Banner Marketing, outlined materials her company has created for a new Therapedic promotion: The Big Sleep Event.
Therapedic welcomed a major new international licensee to its group, saluting the Massindo Group of Indonesia, which recently celebrated its new partnership with Therapedic with a lavish party at the foot of the Golden Gate Bridge in San Francisco. More than 300 top retailers served by the Massindo Group attended that event, at which Borreggine and Rosenblatt officially welcomed Massindo officials, including President Jeffri Massie, to Therapedic.
The group also saluted the achievements of Therapedic licenses in Illinois and Texas, both recognized for providing superior service.
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