The second-largest line item on a company’s P&L is often trade marketing. It eats up nearly 20% of gross sales, and every year, manufacturers spend over $200 billion on trade marketing with their American partners alone.
When I give presentations I sometimes use the concept of a lemonade stand because I’ve found it to be an effective yet simple way to explore the challenges retailers face when executing pricing decisions, embracing price optimization and finding ways to make strategic pricing decisions profitable.
Do you have a moment? Think about all the data your enterprise has - customer information data; website, transaction and buying pattern data; social media data. Now, imagine analyzing this data, and all of the other data you have, to identify patterns and trends, and glean meaningful insights for smarter business decision making.