“If we have data, let’s look at data. If all we have are opinions, let’s go with mine.” — Jim Barksdale.
Metrics like market share, sales and distribution, estimated by the retail tracking service (aka retail index and retail measurement service), are fundamental to formulating marketing strategies and sales plans. These are the vital facts that yield insights on market structure, channel performance, brand health, competition and sales performance. For this reason, retail tracking is the research that practitioners feed on the most.
Though the metrics are easy to comprehend, to interpret the data and draw insights, it is important that you know what the service covers and understand its strengths and limitations. The purpose of this chapter is to impart that understanding through a comprehensive study of the methodology.
The chapter covers in detail the six processes — universe definition, retail census, sample design and recruitment, data collection, data processing, analysis and interpretation — that make-up a retail tracking service. It explains the metrics supported by the service, relates the benefits and applications of the service, and illustrates how the data is interpreted.
Chapter, Sales and Distribution, and the Little People case study, at the conclusion of Part VI, dwell deeper into the application of the retail index for the analysis of sales and distribution.
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In an analytics-driven business environment, this analytics-centred consumer marketing workshop is tailored to the needs of consumer analysts, marketing researchers, brand managers, category managers and seasoned marketing and retailing professionals.
Suite of interactive, online dashboards that seamlessly integrate retail and consumer data sources in a manner that makes it easier to glean insights.
Suite of dashboards to visualize/analyse retail scan data.
Is marketing education fluffy too?
Marketing simulators impart much needed combat experiences, equipping practitioners with the skills to succeed in the consumer market battleground. They combine theory with practice, linking the classroom with the consumer marketplace.
The Plannogrammer is an experiential learning facility for category managers, trade marketers, and retailers in consumer markets. Ideally suited for hybrid learning programmes, Plannogrammer imparts hands-on training in the planning and evaluation of promotions and merchandising.
It supports a collection of simulation and analysis platforms such as Promotions and Space Planner for optimizing space and promotions, Plannogram for populating shelves and merchandising, a Due To Analysis dashboard that decomposes brand sales into the factors driving sales, and a Promotion Evaluator to evaluate the volume, value and profit impact of promotion plans.