Promotion Optimization Institute Issues Trade Promotion Vendor Panorama 2016/2017 Mid-Cycle Update
New York, New York (PRWEB) January 16, 2017
The Promotion Optimization Institute (POI), the leading resource for trade marketing and merchandising executives, today released its POI TPx Vendor Panorama 2016/2017 Mid-Cycle Update, an interim publication prior to the release of the 2017 POI Trade Promotion Management/Optimization (TPx) Vendor Panorama. The POI annually produces the Vendor Panorama of the trade promotion management/optimization market to help consumer goods companies (CPG) successfully execute trade promotions at the headquarters level.
"For the first time we are issuing a mid-cycle update to the Vendor Panorama due to the rapid changes that are occurring in the dynamic TPx marketplace," said Dale Hagemeyer, partner and board member of the POI. "We have had a strong response from executives of over 70 consumer goods companies that we are currently surveying regarding the TPx and retail execution market and the technology vendors that support them. One of the most important findings is that 85 percent of respondents surveyed are unsatisfied with their ability to manage promotions.
"The Trade Promotion (TPx) space has been quite dynamic during the waning months of 2016 into 2017. Although various vendors are offering more help to manage promotions than ever before, our POI Survey data reveals that consumer goods manufacturers still have issues such as change management, inability to define their business processes, and budget constraints that have kept many companies from turning these promotions from a cost of doing business into a competitive weapon."
The POI TPx Vendor Panorama 2016/2017 Mid-Cycle Update uncovered five significant findings:
- High dissatisfaction with trade promotion capabilities. In addition to the 85 percent of respondents who are not satisfied with their ability to manage, another five percent further reported being extremely dissatisfied and 44 percent reported being dissatisfied.
- Room for improvement with best practices. Twenty-one percent of respondents report they did not receive best practices during their implementations. Forty-nine percent said that they had only "somewhat" received best practices.
- Heavy reliance on spreadsheets. Ninety percent of respondents rely on spreadsheets in addition to their TPM solutions.
- Emergence of regional vendors. A new crop of regional vendors have carved out a presence with local and multinational CPG companies due to their specific, localized expertise.
- Custom built solution implemented at a multinational food company. This is the first time in at least a decade that a CPG company has implemented a custom solution. Future TPx Vendor Panorama reports will continue to track the cost and development time of this customized solution against off-the-shelf software solutions.
"We're proud of our work here, as it builds on our reputation as the leading source of information and analysis on trade promotion, retail execution, and collaborative marketing, combined with our passion for serving POI retailer and manufacturer members with leading practices,"said Michael Kantor, founder and CEO, POI. "Since our inception, we have promoted widespread adoption of effective education processes and solutions while also advancing people and their organizations."
The POI TPx Vendor Panorama 2016/2017 Mid-Cycle Update includes company and product updates to 20 of the 24 vendors analyzed in the 2016 Vendor Panorama across 12 functional areas that are helping retailers and consumer goods executives manage trade promotions effectively. However the updates have not changed the 2016 POI Trade Promotion best-in-class vendors: Accenture, Adesso, Exceedra, Kantar Retail XTEL, Nielsen, Oracle, Periscope, Sequoya, TABS Analytics, T-Pro, RI, SAP, Upclear, Visualfabriq, and WPAS. These vendors will be reviewed and updated by POI later in 2017.
To receive a copy of the complete POI TPx Vendor Panorama 2016/2017 Mid-cycle Update email Mike Kantor, CEO and founder of POI, at mkantor (at) p-o-i (dot) org.
About the Promotion Optimization Institute
POI brings together manufacturers, retailers, solution providers, analysts, academics and other industry leaders. Members of the POI share cross-functional best practices in both structured and informal settings. Additionally, members benefit through our industry alliances, the Certified Collaborative Marketer (CCM) curriculum and certification, industry leadership events globally, and the Promotional Collaborative Capability Matrix (PCCM). POI aims to instill a financial and metrics-based discipline not typically found with other trade groups.
The goal of our innovative approach is collaborative promotion optimization. The focus is on the customer/shopper through sales, marketing, and merchandising strategies. POI is based in Wyckoff, New Jersey. To learn more about the POI, including how to participate in research, how to register to attend or sponsor events, and how to engage with leaders on the CCM, visit http://www.poinstitute.com/ or email Mkantor (at) p-o-i (dot) com.
The Certified Collaborative Marketer (CCM) " is a trademark belonging to the Promotion Optimization Institute. All other trademarks are the property of their registered owners.
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