NPD Launches Price and Promotion Management Service

Retail data firm The NPD Group has launched a suite of scenario planning and simulation tools called the Price and Promotion Management Service, tapping into weekly, store-level point-of-sale data gathered from major US brands and retailers.

The new subscription-based, category-wide service comprises two modules: a simulation tool called Price Management, designed to support decisions relating to long-term price changes, changes in price structure, and ongoing competitive analysis; and Promotion Management, a promotional effectiveness tool to help clients measure return on their trade promotion spending, and benchmark against other brands and items in their category. The service is regularly updated to help clients test pricing scenarios, validate spending on promotions, and respond to other common pricing and promotion challenges.

George Terhanian (pictured), President of Analytic Solutions, comments: 'With the granularity offered by store-level data, retailers can break through the clutter to isolate the true impacts of their actions, thereby enabling them to make informed decisions and move ahead with confidence'.

Web site: www.npd.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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