How many marketing, merchandising, and product managers are faced with these kinds of marching orders on almost a daily basis? With more than 35 years in the business, I can tell you this happens more often than not.
Costs do count… and the sooner in the process they are addressed, the straighter the path to a successful solution. It takes on even more importance with kiosks, social media, and interactive marketing becoming a larger part of the traditional in-store marketing mix.
While there are many articles and general return on investment strategies and calculators out there, (one good general source reference is John Davis’ book, MEASURING MARKETING…103 METRICS EVERY MARKETER NEEDS, John Wiley and Sons Press), most return on investment models do not adequately focus on the variables involved in determining “Return On Merchandising Investment” (ROMI).