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Consumer goods manufacturers can optimise the return on their promotions with analytics provided by the PromotionsAtWork SaaS

PromotionsAtWork and Trade Promotions Optimisation: The Future of Consumer Goods Promotions

With consumers watching every dollar they spend and retailers cutting back on their inventories while demanding a premium for the best product placement on their shelves, consumer goods manufacturers are under pressure to provide generous promotions. At the same time, manufacturers cannot afford to lose money on trade spending. How can manufacturers provide exceptional value for retailers and end consumers while staying within their trade spend budget?

Trade Spend Optimisation Takes Trade Promotions Management to the Next Level

Trade spend optimisation provides manufacturers and distributors the means to optimise their trade spend budgets. This allows consumer goods manufacturers to develop strategies to develop promotions that meet their needs, as well as those of retailers and consumers.

Trade promotion optimisation involves analysing the relationship amongst various parameters. This analysis is used to establish a promotional calendar for the manufacturer and retailer that will generate the highest amount of sales without going over the trade spend budget.

Some of the parameters included in a trade spend optimisation analysis include the following:

  • Timing and frequency of promotions
  • Pricing
  • The impact of forward buying
  • Product dependencies
  • Seasonality

These parameters are used to generate predictive analytics, which use historical data trends to identify what factors have the most significant impact on sales. This analysis can be used to simulate different promotions to determine which one will generate the most sales, while staying within budget.

Get the Data for Trade Promotions Optimisation with PromotionsAtWork

Dale Hagemeyer, the Managing VP of, Industries Research for Manufacturing, Gartner Inc. was recently quoted, 'Having the right data and having it clean are both critical to the Trade Promotions Optimisation engines making better predictions.'[1] The PromotionsAtWork SaaS provides a tool for single point entry of data, which ensures accuracy. The advanced data management features of this trade promotions management solution allow the data to be easily accessible to both management and the field representative. This software solution provides the detailed performance analytics needed for trade promotions optimisation.

Using trade spend optimisation can help maximise the value of your promotions to both retailers and consumers, while at the same time staying within budget. PromotionsAtWork provides you with accurate data and analytics needed for success.

To find out more about PromotionsAtWork, visit www.salesatwork.com

[1] http://consumergoods.edgl.com/2012-readers-choice/trade-promotion-management

Source: WhaTech IT