Learning Objectives
In this seminar you will learn:
- How to predict the volume of sales for any given product promotion
- What data and modelling is required to achieve this
- How to leverage retailer EPOS data
- How this approach has been applied by a major UK retailer
- How to develop an optimal promotions strategy to maximise sales and/or profit
Program content
This webcast series entitled Maximising Marketing ROI: Practical Approaches for Practical People explains how to increase the effectiveness and efficiency of your marketing spend.
The Ipsos UK team unpicks and simplifies the complexity of what makes promotions effective, how advertising works on sales, and how to use loyalty card data to drive CRM and other marketing decisions.
How do you leverage available data sources to find workable day-to-day solutions to these problems? Incorporating basic principles and best practice case examples, the series highlights practical hints and tips for how to make these techniques work for your own company or organisation.
Accurate demand forecasts are essential for any retail business. They provide the basis for sound financial and marketing planning, minimising waste and maximising sales opportunities through on-shelf availability. Price promotions cause dramatic fluctuations in demand and so are particularly important (and difficult) to forecast.
This webcast shows how significant improvements can be made to the promotions planning process by developing statistical models to provide forecasts of promotion volumes. These models estimate the impact of the various promotional attributes (type of product, type of offer, level of discount, etc) upon the resulting sales volume.
You can also view the interview with Trevor Alderson recorded live at SAS Forum International 2005 in Lisbon, Portugal.
Participant level of understanding
This program is intended for participants with a basic or intermediate level of understanding on the topic.
About Trevor Alderson
Trevor Alderson has over 20 years experience in demand modelling and analysis. He began his career in the UK Ministry of Defence developing demand forecasting models for equipment and supplies. He then worked for Sainsbury’s supermarkets for 15 years in various roles concerned with the statistical modelling and analysis of corporate data. This included 6 years as head of Business Insights in the Market Intelligence Division where he was responsible for the development of sales forecasting tools and systems, the evaluation of marketing initiatives and the development of a data warehouse for the Sainsbury’s loyalty card scheme. He went on to set up and lead the Forecasting and Planning department in the Supply Chain Division. Trevor is currently Director for Ipsos UK's Forecasting and Modelling Team.
