Computer system for planning and evaluating in-store advertising for a retail entity

Abstract

A computer system for planning and evaluating advertising for a retail entit y comprising: a computer system including an advertisement publication database and a transaction database, the computer system being configured to perform the steps of: (a) collecting in the advertisement publication database a first set of advertisement publication data for a plurality of featured products published by the retail entity over a first period of time, the advertisement publication data including data taken from a group consisting of data concerning the featured products in the advertisements, data concerning the type of advertisement, data concerning t he term of the advertisement, and data concerning the region of the advertisement; (b) collecting in the transaction database a first set of transaction data for a plurality of transactions conducted by a plurality of consumers purchasing a plurality of products from the retail entity over the first period of time; (c) analyzing the first set of advertising publication data with respect to the first set of transaction data over the first period of time; and (d) classifying t he plurality of featured products into advertising roles based upon the analyzing of the first set of advertising publication data with respect to the first set of transaction data, the plurality of advertising roles including one or more advertising roles take from a group consisting of featured products that attract consumers to a particular part of a retail entity, featured products that promote attracting a mixture of consumers of different consumer classifications to purchase the featured products, featured products that promote a balance of different types of products purchased by a consumer, featured products that promote an overall increase in sales by the retail entity, and featured products that promote a combination of two or more of the above advertising roles.

Description

Background technique [0001] Planning, evaluating and calibrating advertising strategies is a constant challenge for retail organizations. Typically, such advertising analysis is product or service specific. This traditional treatment focuses on what product types and / or advertising methods are most attractive to different demographic types of consumer groups. An example of traditional advertising analytics is the use of interest data—the number and type of customers who expressed interest in a particular ad—rather than how much of the advertised product was sold as a result of the ad. Another example of traditional advertising analysis uses product-specific sales data—the difference in sales of a particular product when it is advertised and when it is not. [0002] A limitation of the above two approaches is that they attempt to predict the outcome of a complex system using only one or two factors. This one-dimensional or two-dimensional strategy does not take into account,...

AI Technical Summary

Problems solved by technology

[0003] In addition to being too restrictive in scope, as mentioned above, traditional solutions are ineffective in many other ways

Institution-wide analysis is also less useful for large interstate retail establishments because customers in different geographic segments tend to have different needs, buy different products, have a different sense of place to shop, and have different price sensitivity

Images