abhishreshthaa
Abhijeet S
Retail Sales
Household Purchases
Media Usage
Given the billions spent on advertising, it is not surprising that substantial effort is expended to measure media usage.
Attitudes/Knowledge/Behaviors
- Retail sales data a-re available from both audits and scanner-based retail panels.
- Scanner panels provide more current data at shorter time intervals than do audits. However, audits cover outlets not required with scanners.
- Scanner data are particularly useful to both retailers and manufacturers for measuring the aggregate impact of coupons, in-store promotions, point-of purchase displaces, price discounts and so forth.
- Measuring only the sales of the promoted brand would lead a manager to conclude that the fifth (least) most popular brand should be promoted.
- However, an analysis of category sales reveals that sales increases of minor brands on sale come as a result of the cannibalization of the more popular brands.
- In contrast, price reductions on the leading brands appear to increase overall category sales.
Household Purchases
- Data on household consumption are available from both diary- and scanner-based household panels. Household consumption data allows the firm to monitor shifts in an individual's or market segment's purchasing patterns over time.
- This allows the firm to evaluate the effects of both its own and its competitors' marketing activities on specific market segments.
- For example, if a competitor introduces a larger package, the firm can tell what type (demographic and product usage characteristics) and how many people are switching to the new size.
- Household panel data also serve as an important basis for forecasting the sales level or market share of a new product.
- A new product will often attract a number of purchasers simply because it is new. However, its ultimate success depends on how much of these initial purchasers become repeat purchasers.
Media Usage
Given the billions spent on advertising, it is not surprising that substantial effort is expended to measure media usage.
Attitudes/Knowledge/Behaviors
- Commercial surveys, both periodic and panel-based, are the primary general sources of data on consumer attitudes, knowledge, and behavior.
- For example, a firm desiring to improve or alter its corporate image could engage in a variety of advertising and public relations programs in different regions of the country.
- Using one of the weekly shared-interview services, it could economically determine the relative impact on each approach over time.