What is Endcap in Retail?

An endcap is used to display a product placed at the end of a shelf .It is basically used  to give brand a competitive advantage. Products which are placed on the endcap will sell at a very fast rate as compared to…

What is Sales Promoter???

Sales Promoters attracts new customers and help the company to reach  the revenue targets. The main aim of Sales Promoter is to make product presentations, answering to questions, approaching…

What is a Beat Plan?

Organizations dealing with consumer good products deal with sales routes, typically called ‘beats’ to manage sales & delivery in a controlled manner. Beat Plan (also referred as ‘Permanent Journey Plan’) is a day level route plan made for field sales/marketing personnel to make visits to a….

What are Focus Groups?

A focus group is method of quantitative research in which a group of people are asked about their perceptions about a product and other aspects related to the product like its packaging, service idea, advertising and service. An interactive group is formed and participants are free to talk with other…

What are Inventory Audits?

In an inventory audit, several procedures are used to check the company’s inventory methods confirm that the financial records and actual physical count of goods match. Inventory is a key asset in a company’s financial statements as they can be used as collateral for bank loans and also can be misappropriated for fraudulent…

What are Visibility Audits?

In retail stores, products  need to be displayed for their effective marketing. For this, the retail stores need to follow certain standards of cleanliness, layout & product display. Brands sets budget of   significant amount planning various Point of Purchase material…

What is POSM?

POSM stands for Point Of Sales Materials. POSM is basically advertising materials that are used to display brand information to the users. It is a part of BTL  campaign platform…

What is the meaning of MOP or SRP?

MOP stands for Market Operating Price and SRP stands for Suggested Retail Price. MOP is the actual price at which a product is made available to a retailer. …

What is Primary and Secondary Data in Market Research?

Primary data includes new information collected specifically for your purposes, directly from the people who know. Methods of primary data collection vary based upon the goals of the research, as well as the type and depth of information being sought. For example, surveys and focus group discussions….

What are Primary, Secondary and Tertiary sales?

In a typical supply chain , three stakeholders should be involved before the product reaches the end consumer.

  1. First of all, the Manufacturing Company/National supplier…

What is a Trade Loyalty Program?

A trade loyalty program is a long term program for trade partners with certain plans which provide additional benefits to the trade partners. Any trade Loyalty Program basically focus on what trade partners do for the company and what they get in return from the company…

Who is an Influencer?

An influencer is a normal person who can influence consumers to purchase a particular product by making a recommendation without being involved in actual transactions. These influencers are often connected to key roles of media outlets, consumer groups, industry…

What is the SEC Classification?

The SEC stands for Socio Economic Classification. It is the way of segmenting consumers based on their purchasing power. The socio-economic classification (SEC) is a measure used to classify and target consumers based on certain…

Who are Millennials, Generation X and Baby Boomers?

To enhance the representation of market research reports, Consumers are classified into three generation named as:- Millennial, Generation X and Baby Boomers. Initially this classification was done by US. But after that many countries are using same representation occasionally….

What is TOMA?

TOMA stands for Top-of-Mind-Awareness. Awareness is the extent to which a brand is recognized by consumers at large.Top-of-mind awareness is an important concept in Consumer Behaviour, marketing research and marketing communications. Top-of-mind awareness is one…

What is Range Selling?

Range Selling involve selling larger portfolio of products and services. By providing a variety of products to customers, the dependency of sales revenues from single or limited products is reduced. This is done by Range Selling. Range selling is one of the key techniques to do better sales….

What is Channel?

Before a consumer buy any product, it must be passed through a chain of organization called “channel”. Channel means  employed to distribute goods or services from producers to consumers.

A channel in finance and economics can either mean:…

What is SFA Software?

SFA stands for Sales force automation (SFA) software. SFA  is a type of program that automates business tasks such as inventory control, sales processing, and tracking of customer interactions, as well as analyzing sales forecasts and performance. SFA software is a solution that helps field-based teams do their job more…

What is Mystery Shopping?

Mystery shopping is a popular research method used to gather feedback from an audience. Mystery Shopping is a process in which a person visits a retail store, restaurant, bank branch or any such location with the objective of measuring the quality of customer experience. It’s common for mystery shopping to be conducted…

What is Width of Distribution?

Number of different entities available for providing the same distribution function (as a distributor, wholesaler, or retailer) at different stages in a distribution channel

Width of Distribution-In how many sales points…

What is Trade Scheme?

Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. A system or network that allows trade is called a market. An early form of trade, barter, saw the direct exchange of goods and services for…