Promotion funding at retail is an obese factor in a supplier’s profit. Putting the huge amount together is almost like 30% of the gross sales of their products.
Moreover, the retailer has to wait for the promotion mechanism to happen, as well as, he has to maintain a neat financial record of the promotion mechanism. Thus it is a tedious process for a retailer to get cash at hand. Trade promotion has to be smarter. Retailers generally hire expert auditors to check on the promotion records, spending time over calculating and creating report for this. And the recoverable amount picked up by the audit firms show a range of 20-30% that the suppliers are yet to pay the retailers.
Market Quotient can see a better picture for this.
As the suppliers allocate the trade promotion fund, the retailers work out the detail, to match the customer expectations, maximizing the marketing effort. The promotional fund is broken into categories, and time period. The SKU level is seen in detailed by both the retailer and the supplier, as the campaign progresses. The retailer can then claim the money from supplier immediately, without an auditor’s assistance, paying them huge. The suppliers get a better picture about customer preference and build strategies accordingly. It is an execution of simple collaboration of the suppliers and the retailers.
Making new customers and retaining old customers, is the target of the retailers and the suppliers. The common objective of doing so is an effective promotion, so as to know the customer insight. Market Quotient can assemble different retailers and suppliers according to the various portals and gain the actual insights in different stores doing a competitive analysis.
The trade promotion has approaches, where portal based approach is as an essential approach of today. To manage the strategic advantage for the early adopter, there requires a trade promotion and budget structure, which needs a detailed study of industry and market analysis, surveys, competitive analysis with various models. Market Quotient can take the complete burden for this kind of services. As a new trend is required, be the change of the changing society. Market Quotient for assistance.