What is a trade promotion management system?
Trade promotion management (TPM) and trade promotion optimization (TPO) are the processes and technologies that consumer goods manufacturers leverage to plan, manage and execute the activities that require collaborative promotional activity from their retail partners.
What are the parts of trade promotion management?
Key functions
- Sales Forecasting.
- Promotion planning and budgeting.
- Predictive modeling/optimization.
- Promotion execution and monitoring.
- Settlement.
- Post event analysis.
What is trade planning in retail?
IRI Trade Planner helps companies maximize the return on their trade spend investment. It optimizes individual trade events as well as the overall plan for the retailer. With Trade Planner you will understand what happened, what you can learn from it and how you might change promotional strategies in the future.
What is promotion management?
Promotion Management is defined as optimizing the utilization of tools, strategies, and resources to promote a product that will generate additional demand. To achieve this, you identify your potential customers, decide your promotion budget, and select your product to promote.
What are the key TPM products in market?
Business Intelligence, Analytics.
What is a trade promotion example?
Examples include “cents off” promotions, where manufactures or retailers temporarily reduce the price of a product, and Bonus Pack promotions which offer extra product for free. Consumers benefit from either paying a lower price on a product or getting more of a product for the same price.
What does TPM stand for in sales?
Trade promotion management is the basic “infrastructure,” the ability to track promotions (both completed and planned) against the available promotional budget and ensure compliance.
What does TPR stand for in retail?
A temporary price reduction (TPR) is when a product’s price is reduced by 10% for up to four weeks. After four weeks we classify it as a permanent price change.
What are the 5 types of promotion?
There are five different ways to effectively promote your business. These include public relations, sales promotion, advertising, direct marketing and personal selling.
What are 4 types of trade promotions?
Trade promotions include trade shows, conventions, event marketing, trade allowances, training, and special incentives given to retailers to market particular products and services, such as extra money, in-store displays, and prizes. Trade shows are one of the most common types of sales promotions in B2B markets.
What are the 5 types of trade promotions?
5 types of trade promotion
- Physical displays. Businesses can provide engaging physical displays to brick-and-mortar retail stores to help attract attention to certain products.
- Pricing discounts.
- Bulk purchasing.
- Financial rebates.
- Sales competitions.
What is Pillar 3 of TPM?
Quality Maintenance
Pillar 3: Quality Maintenance This TPM pillar addresses the issue of quality by ensuring equipment is able to detect and prevent errors during production. By detecting errors, processes become reliable enough to produce the right specification the first time.
What is TPR in FMCG?
What are the 6 types of promotion?
There are six distinct forms of promotional activity.
- Personal Selling. This is the face to face communication process that occurs between a customer and the store’s sales representative.
- Advertising.
- Sales Promotion.
- Direct Marketing.
- Publicity.
- Public Relations.
What are the three forms of sales promotion?
There are three types of sales promotion strategies’. Push, Pull or a combination of the two. A push promotional strategy makes use of*a company’s sales force and trade promotion activities to create consumer demand for a product.
What are the 5 pillars of TPM?
Traditional TPM Pillars
- Sort: eliminate anything that is not truly needed in the work area.
- Straighten: organize the remaining items.
- Shine: clean and inspect the work area.
- Standardize: create standards for performing the above three activities.
- Sustain: ensure the standards are regularly applied.
What is MCB in CPG?
“Manufacturer Charge Back” or “MCB” deals are promotional events where the retailer buys a brand’s product from a distributor at a discounted rate. The retailer then passes that discount on to the consumer during a pre-scheduled promotional period.