Trade promotion management
Trade Promotion Management is a software application that assist companies in managing their trade promotion activity.
Key functions
- Sales Forecasting
- Promotion planning and budgeting
- Predictive modeling/optimization
- Promotion execution and monitoring
- Settlement
- Post event analysis
Business problems addressed
Commonly, companies use their accounting systems or spreadsheets to manage promotions. As the complexity of trade increases software solutions have been developed for consumer goods, food manufacturing, food service and others.Analytics
Historical trade promotion data should be analyzed in order to continually improve trade promotions. If a company does not utilize processes and systems that measure trade promotion performance, future trade promotion executions could be less effective than if they’d been planned using past analytical information.Integration
Lack of integration both internally and with external partners can hinder trade promotion success. Key elements of organizational integration include- standardized metrics,
- regular information sharing,
- cross-functional department collaboration, and
- collaborative processes.