Bringing It All Together
We have covered a lot of ground in the last several posts, bringing you full circle through a cycle of data collection, planning, and execution. This final post will serve as a handy summary of trade promotion best practices. If you stumble across a concept here that isn’t clear, then please feel free to look at any of the posts here.
In the past several posts, we’ve framed trade promotion best practices throughout a six-part cycle:
- Correct Metrics
- Correct Measurement
- Correct Data Harmonization
Probably the single biggest key to accurate metric collection is to measure exclusively in consumer units. All the most useful metrics in assessing your trade promotion optimization (TPO), such as revenue, incremental factor, and spend ratio, all flow downstream from this.