Retailers rely heavily on promotions to drive traffic to such an extent that promotions now account for 40% of all grocery and supermarket sales. This makes it essential that they offer a compelling promotional program to attract new customers and keep existing ones. With that volume of sales dependent on getting the right mix of offers week by week and the long term credibility of the format dependent on promotions balancing competitively with the everyday prices. Promotion Life Cycle Optimization provides the operational aspects of managing, recording and delivering advertising, marketing, pricing, promotions and assortment for retailers.
Promotion Life Cycle Optimization uses all of the customer demand touch points - price, offer, loyalty, mailers, kiosks, ads, flyers, events, promotions space, labels and signage - and creates elasticity demand models that understand the interaction and collision of those elements together. The science forecasts the likely outcomes of different promotional prices with ads and displays.
This allows the user to plan their promotions to select and evaluate alternatives and review all options to choose the best mix of ads, items, offers etc., thus create a compelling and optimum go-to-market plan. Aligning the buying and selling with each other and incorporating the vendor support ensures consistency with collaboration plans with each supplier. The combining of marketing and trading incentives with media provides the basis for the financial view of offers, ads, flyer pages and sections as well as presenting the category P&L.
Enables the creation and management of calendars, plans and budgets for marketing events, campaigns, media, advertising vehicles (flyers etc.) and promotional offers.
Allows the creation and management of product offers including the selection and evaluation with their incentives and other marketing activities.
Allows the creation and management of nonspecific product offers (department, category, brand etc.) including the selection and evaluation of their incentives and other marketing activities.
The creation and management of the whole process for development of ad vehicles like flyers, newspaper ads, TV and Radio etc and their interaction with promotional offers.
