Glossary of Terms

What are Stock Audits?

Inventory is a critical asset for an organization.  It is this stock inventory maintained by an organization - either with itself or in its distribution network that eventually translates into sales.  While companies do keep track of the stock on a regular basis by maintaining records, they need to periodically assess and reconcile these records to check the accuracy of books and take the necessary corrective measures where required.  This is done by undertaking a stock audit.  

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What are Visibility Audits?

Retail stores are supposed to follow certain standards of cleanliness, layout & product displays. In terms of visual merchandising too, brands budget a significant spend planning various Point of Purchase material e.g. fixtures, wall branding, posters etc. so that the stores convey a standard look and visually convey the message of the brand.

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What is POSM?

POSM (also called POPM or POP) stands for “Point of Sale Materials”. These are advertising materials that are used to communicate product information to the consumers at the point of sale. There are many types of POSMs which are used by companies for their advertising campaigns. Some of them includes Posters, Dangler, Dummy Boxes, Shelf Branding, Shelf Talker, Leaflets & Leaflets Dispenser, Wobblers etc. All these POSMs are deployed on POP or POS.

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What is the meaning of MOP or SRP?

MOP stands for Market Operating Price while SRP is the acronym for Suggested Retail Price.  Both these terms essentially denote pricing benchmark or guideline set forth by a brand for retail price of its products.  

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What is a Trade Loyalty Program?

Trade Loyalty Program is a long term (minimum of one year) program for trade partners with structured incentive plan to provide additional monetary benefit to the trade partners. It is mostly extended only to the biggest trade partners and rewards business growth and association over long periods of time. Through the platform of a loyalty program, lot of benefits are offered to high value and loyal trade partners.
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