Planning a promotional event is not an easy task. On the other
hand, promotions is the man driver of retail activity. Promotional
planning involves all sides of the retail business, including
inventory management, pricing, and merchandising.
There are a lot of questions to be answered:
- What merchandise to promote?
- when should the promotion be ran?
- what should promotional incentives be? (e.g. price reduction,
give always)
- what is the most effective way to acknowledge prospective
buyers about the promotion? (media, flyer, in-store ad)
- What should inventory levels be to accommodate for promotional
demand?
The main question, though, is how to make promotion a
success.
To answer these questions, retailer should be able to foresee
the effect of planned promotion before it starts, based on
the current conditions, inventory and sales levels, as well
as expected uplift in sales due to planned price changes,
media use, flyers content, etc.
Retalon tools allow retailers to evaluate the impact
of any planned activity and select the most profitable promotional
campaign.
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