abhishreshthaa
Abhijeet S
Audits
Audits involve the physical inspection of inventories, sales receipts, shelf facings, prices, and other aspects of the marketing mix to determine sales, market share, relative price, distribution, or other relevant information.
Store Audits
Product Audits
Retail Distribution Audits
Audits involve the physical inspection of inventories, sales receipts, shelf facings, prices, and other aspects of the marketing mix to determine sales, market share, relative price, distribution, or other relevant information.
Store Audits
- The simple accounting arithmetic of opening inventory + net purchases (receipts - transfers out - returned inventory + transfers in) - closing inventory sales is the basis for the audit of retail store sales.
- The most -, widely-used store audit service is the Nielsen Retail Index. It is based on audits every 30 or 60 days of a large national sample of food, drug, and mass merchandise stores.
- The index provides sales data on all the major packaged goods product lines carried by these stores-foods, pharmaceuticals, drug sundries, tobacco, beverages, and the like (but not soft goods or durables).
- Nielsen contracts with the stores to allow their auditors to conduct the audits and pays for that right by providing them with their own data plus cash.
- The clients receive reports on the sales of their own brand and of competitors' brands, the resulting market shares, prices, shelf facings, in-store promotional activity, stock outs, retailer inventory and stock turn, and local advertising.
- These data are provided for the entire United States and by region, by size classes of stores, and by chains versus independents.
- The data are available to subscribers on-line via computer as well as in printed reports
Product Audits
- Product audits, such as Audits and Surveys' National Total Market Index, are similar to store audits but focus on products rather than store samples.
- Whereas product audits provide information similar to that provided by store audits, product audits attempt to cover all the types of retail outlets that handle a product category.
- Thus, a product audit for automotive wax would include grocery stores, mass merchandisers, and drugstores (in this way it is similar to the Nielsen store audits).
- In addition, it would include automotive supply houses, filling stations, hardware stores, and other potential outlets for automotive wax.
Retail Distribution Audits
- Similar to store audits are retail distribution audits or surveys.
- These surveys do not measure inventory or sales; instead, they are observational studies at the retail level.
- Field agents enter stores unannounced and without permission.
- They observe and record the brands present, price, shelf facings, and other relevant data for selected product categories.
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