Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information.
E-commerce is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. E-commerce is in turn driven by the technological advances of the semiconductor industry, and is the largest sector of the electronics industry.
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers.
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically.
Personalized marketing, also known as one-to-one marketing or individual marketing, is a marketing strategy by which companies leverage data analysis and digital technology to deliver individualized messages and product offerings to current or prospective customers. Advancements in data collection methods, analytics, digital electronics, and digital economics, have enabled marketers to deploy more effective real-time and prolonged customer experience personalization tactics.
Electronic business is any kind of business or commercial transaction that includes sharing information across the internet. Commerce constitutes the exchange of products and services between businesses, groups, and individuals and can be seen as one of the essential activities of any business.
Database marketing is a form of direct marketing using databases of customers or potential customers to generate personalized communications in order to promote a product or service for marketing purposes. The method of communication can be any addressable medium, as in direct marketing.
Fast-moving consumer goods (FMCG), also known as consumer packaged goods (CPG), are products that are sold quickly and at a relatively low cost. Examples include non-durable household goods such as packaged foods, beverages, toiletries, candies, cosmetics, over-the-counter drugs, dry goods, and other consumables.
Microsoft Dynamics is a line of Business Applications, containing enterprise resource planning (ERP) and customer relationship management (CRM). Microsoft markets Dynamics applications through a network of reselling partners who provide specialized services. Microsoft Dynamics forms part of "Microsoft Business Solutions". Dynamics can be used with other Microsoft programs and services, such as SharePoint, Yammer, Office 365, Azure and Outlook. The Microsoft Dynamics focus-industries are retail, services, manufacturing, financial services, and the public sector. Microsoft Dynamics offers services for small, medium, and large businesses.
IMS Health was an American company that provided information, services and technology for the healthcare industry. IMS stood for Intercontinental Medical Statistics. It was the largest vendor of U.S. physician prescribing data. IMS Health was founded in 1954 by Bill Frohlich and David Dubow with Arthur Sackler having a hidden ownership stake. In 2010, IMS Health was taken private by TPG Capital, CPP Investment Board and Leonard Green & Partners. The company went public on April 4, 2014 and began trading on the NYSE under the symbol IMS. IMS Health was headquartered in Danbury, Connecticut.
Marketing mix modeling (MMM) is statistical analysis such as multivariate regressions on sales and marketing time series data to estimate the impact of various marketing tactics on sales and then forecast the impact of future sets of tactics. It is often used to optimize advertising mix and promotional tactics with respect to sales revenue or profit.
Customer experience (CX) is a totality of cognitive, affective, sensory, and behavioral consumer responses during all stages of the consumption process including pre-purchase, consumption, and post-purchase stages. Pine and Gilmore described the experience economy as the next level after commodities, goods, and services with memorable events as the final business product. Four realms of experience include esthetic, escapist, entertainment, and educational components.
IRI is a data analytics and market research company headquartered in the United States. The company provides clients with consumer, shopper, and retail market intelligence as well as analysis on consumer packaged goods (CPG), retail, and healthcare industries.
In business and marketing, “trade” refers to the relationship between manufacturers and retailers. Trade Promotion refers to marketing activities that are executed in retail between these two partners. Trade Promotion is a marketing technique aimed at increasing demand for products in retail stores based on special pricing, display fixtures, demonstrations, value-added bonuses, no-obligation gifts, and more.
Trade Promotion Management (TPM) is a software application that assist companies in managing their trade promotion activity.
Exceedra Software, formally known as Cube Software, is an integrated business planning and analytics software company aimed specifically at the Consumer Product Goods manufacturers, retailers and suppliers to help manage, access, analyse and report on data. The company is headquartered in London UK with offices located in Marlow Buckinghamshire; Charlotte North Carolina, United States, and Melbourne, Australia.
Founded in 2003, Retail Solutions Inc (RSi) is a software company based in Mountain View, CA that provides software-as-a-service products for data management, reporting and business intelligence, and point of sale applications. RSi was named by Forbes as the biggest SaaS company you've never heard of. The company started out selling radio-frequency identification (RFID) software before moving into its current business. In October 2020, RSi was acquired by IRI Worldwide.
4INFO is an American corporation that measures and tracks media audiences for the targeting of audiences. The company also displays targeted advertisements on mobile devices. The company is currently owned by Nielsen Holdings.
Trax is a technology company headquartered in Singapore, with offices throughout the Asia-Pacific, Europe, the Middle East, North America, and South America. Founded in 2010 by Joel Bar-El and Dror Feldheim, Trax has more than 150 customers in the retail and FMCG industries, including beverage company Coca-Cola and brewer Anheuser-Busch InBev. Customers use the company’s computer vision technology to collect, measure, and analyze what’s happening on physical store shelves. Trax’s services are available in 45 markets.
Retail back-office software is used to manage business operations that are not related to direct sales efforts and interfaces that are not seen by consumers. Typically, the business processes managed with back-office software include some combination of inventory control, price book management, manufacturing, and supply chain management (SCM). Back-office software is distinct from front-office software, which typically refers to customer relationship management (CRM) software used for managing sales, marketing, and other customer-centric activities.
