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How to Forecast Demand? Things to Know
Demand forecasting is the process to forecast future demand of products in a retail business, brick and mortar stores or online. When you know how many customers you are going to have or how many orders you are going to receive throughout a day, week or a month; you can plan your inventory and staffing accordingly. This helps in minimising wastage and prepares you to handle and keep up with th...Continue Reading
Retail Demand Forecasting – Then and Now
Gone are the days when heuristics ruled the world! There was one chief with all the knowledge about his shop, and would know how much he would sale for each product he carries. He knew when the demand will peak, and when he has to push the sales, through discounts. He was mostly correct. [Even if he is not correct, nobody would know as no one accounting for lost sales. And no one dares t...Continue Reading
Double Delight? TV Ratings in India
So we now have BARC (Broadcast Audience Research Council), (http://www.barcindia.co.in), another TV rating system in India; after the long standing TAM (http://www.tamindia.com). The marketers should be happy, and happier are those who use to dispute TAM. Reasons can be many; after all, data and statistics it not something full proof!
One of t...Continue Reading
Leveraging the power of Digital Marketing in the Indian landscape
The phenomenal success of Flipkart has re-written the history of marketing in India. While many small operations wrapped up or merged to offset losses from digital competition, savvy marketers and companies extended their operations to digital marketing for remarkable success. The core competency of the digital marketing model has set off another trend in India - that of the pure-play digital ...Continue Reading
The role of predictive analytics in Indian FMCG
All eyes are on the Indian FMCG and retail sectors that “form the direct path to the India Growth Story - CII National Retail Summit and CII National FMCG Summit 24th June 2014 at Mumbai. Despite the economic slowdown of past few years, the FMCG was the last sector to slow down. It witnessed a double digit growth at a CAGR of 11%, spurring high investments.
As Indian marketers ...Continue Reading