Focus groups discussions are commonly used in Market Research to derive qualitative insights. It could be defined as a group of interacting individuals, brought together by a moderator or interviewer, who drives the group and its interaction as a way to gain information about a specific research topic.
Primary data is information collected through original or first-hand research. For example, surveys and focus group discussions. On the other hand, secondary data is information which has been collected in the past by someone else. For example, researching the internet, newspaper articles and company reports.
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.
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.
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.