In competitive market place, Promotions can disrupt the dynamics the market quite quickly. Promotions are expensive and often involve careful decisions to ensure that promotion spend is targeted at the right market segment- in terms of product or sales micro market etc
Often Promotions when targeted to the incorrect segment fails to deliver returns on investment. What’s more, Market often demands promotions to counter already running Competitor promotions. This makes the timing aspect quite important too.
Another aspect that Marketing Managers strongly desire is understanding the impact of promotion, so the learnings from a past promotion can be channelized into future promotions, and this comes from supporting information before and after promotion such as impact on price, demand from targeted micro markets.
All these factors make Promotion Monitoring a crucial tool for Marketing Managers.
Promotion Monitoring is usually a highly unstructured activity because number of intangibles involved. For example, measuring perception, value allocation in terms of per unit of product sold, segregating segregating geographic areas of promotion targets are all at best expensive to measure for each promotion run.
Our Market Intelligence Solution Outreach addresses most of the issues with Promotion Monitoring as including below detail.Manage any promotion uniquely: