A Initiative Value Assessment (IVA) helps determine the extent to which a given retailer is likely to support your initiative, and allows you to adjust priorities as needed. It scores the value of a Shopper initiative based on five customer needs that are weighted based on importance to each individual retailer (in other words, the weighting will change from retailer to retailer).
Category: PLANNING & BUDGET
PLANNING & BUDGET
PLANNING & BUDGET What are insights and how do you find them?
Connecting dots between opportunity & strategy
Shopper insights evolve from research and provide a basis to identify opportunities and corresponding strategies. They are the links between your understanding of your consumers as shoppers and the reasons they shop at the stores they do.
PLANNING & BUDGET Do you know who your shoppers are?
They're not the same as your consumers
Shopper Identification is the second step. This is a matter of finding the overlap between your brand’s highest-potential consumers and the retailer’s most loyal — and profitable — shoppers. It requires an understanding of the difference between a consumer and shopper, as well as why those individuals buy your brands, or not.
PLANNING & BUDGET What is the Shopper Success Index?
And why is is so important?
The Shopper Success Index (SSI) identifies the balance between a shopper’s likelihood to purchase a given brand and how well that brand performs at retail. In other words, it determines the ratio between the shopper’s “purchase intent” when not in the store, to the brand’s “on-the-shelf” market share. It is important because it identifies what kind of initiative should be pursued with the retailer.
PLANNING & BUDGET What is your Shopper situation?
Five analytical steps are keys to success
Situation Assessment involves analysis of five areas: socioeconomic trends; brand understanding; consumer understanding; retailer understanding; and shopper understanding.