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Trade Promotion Management (TPM [1] [2] ) is a software application that assist companies in managing their trade promotion activity.
| | This article needs additional citations for verification .(September 2014) |
Trade Promotion Management (TPM [1] [2] ) is a software application that assist companies in managing their trade promotion activity.
Commonly, companies use their accounting systems or spreadsheets to manage promotions. As the complexity of trade increases software solutions have been developed for consumer goods, food manufacturing, food service and others.
Trade promotion decisions are often rushed and based on sub-par data. While sales and marketing managers are surrounded by promotion information, questions on retail commitment and product forecast accuracy can hinder the process. Multiple data sources and conflicting needs from various departments further complicate the issue.
Historical trade promotion data should be analyzed in order to continually improve trade promotions. If a company does not utilize processes and systems that measure trade promotion performance, future trade promotion executions could be less effective than if they’d been planned using past analytical information.
Lack of integration both internally and with external partners can hinder trade promotion success. Key elements of organizational integration include
Integration with retail partners is important to executing promotions successfully, as well as maintain strong relationships with retailers over time.
KPIs tell manufacturers and retailers how trade promotions performed relative to their pre-determined objectives. A lack of understanding on what trade promotion data to measure and how to measure performance can hinder the overall process. Manufacturers and retailers will not know what made a promotion effective or ineffective unless they have predetermined data points to measure and analyze.
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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.
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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.
Trade promotion forecasting (TPF) is the process that attempts to discover multiple correlations between trade promotion characteristics and historic demand in order to provide accurate demand forecasting for future campaigns. The ability to distinguish the uplift or demand due to the impact of the trade promotion as opposed to baseline demand is fundamental to model promotion behavior. Model determination enables what-if analysis to evaluate different campaign scenarios with the goal of improving promotion effectiveness and ROI at the product-channel level by selecting the best scenario.