Go Back   ManagementParadise.com | Management & Business Education Learning Platform PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT > Marketing Research ( MR )

Audits and Its types

Discuss Audits and Its types within the Marketing Research ( MR ) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Audits Audits involve the physical inspection of inventories, sales receipts, shelf facings, prices, and other aspects of the marketing mix ...

Reply

 

Thread Tools Display Modes
Audits and Its types
Old
 (1 (permalink))
Abhijeet S
abhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to behold
 
abhishreshthaa
Operations Manager at Management Paradise
Management Paradise Guru
 
Status: Offline
Posts: 7,045
Join Date: May 2010
Audits and Its types - September 7th, 2010

Audits


Audits involve the physical inspection of inventories, sales receipts, shelf facings, prices, and other aspects of the marketing mix to determine sales, market share, relative price, distribution, or other relevant information.



Store Audits
  • The simple accounting arithmetic of opening inventory + net purchases (receipts - transfers out - returned inventory + transfers in) - closing inventory sales is the basis for the audit of retail store sales.

  • The most -, widely-used store audit service is the Nielsen Retail Index. It is based on audits every 30 or 60 days of a large national sample of food, drug, and mass merchandise stores.

  • The index provides sales data on all the major packaged goods product lines carried by these stores-foods, pharmaceuticals, drug sundries, tobacco, beverages, and the like (but not soft goods or durables).

  • Nielsen contracts with the stores to allow their auditors to conduct the audits and pays for that right by providing them with their own data plus cash.

  • The clients receive reports on the sales of their own brand and of competitors' brands, the resulting market shares, prices, shelf facings, in-store promotional activity, stock outs, retailer inventory and stock turn, and local advertising.

  • These data are provided for the entire United States and by region, by size classes of stores, and by chains versus independents.

  • The data are available to subscribers on-line via computer as well as in printed reports

Product Audits
  • Product audits, such as Audits and Surveys' National Total Market Index, are similar to store audits but focus on products rather than store samples.

  • Whereas product audits provide information similar to that provided by store audits, product audits attempt to cover all the types of retail outlets that handle a product category.

  • Thus, a product audit for automotive wax would include grocery stores, mass merchandisers, and drugstores (in this way it is similar to the Nielsen store audits).

  • In addition, it would include automotive supply houses, filling stations, hardware stores, and other potential outlets for automotive wax.


Retail Distribution Audits
  • Similar to store audits are retail distribution audits or surveys.

  • These surveys do not measure inventory or sales; instead, they are observational studies at the retail level.

  • Field agents enter stores unannounced and without permission.

  • They observe and record the brands present, price, shelf facings, and other relevant data for selected product categories.
Advertisements



Help Others > Network > Grow


Work with us part time/full time as forum moderator. Email us your resume on careers @ managementparadise.com PLS PRESS THANKS BUTTON IF U LIKED MY POST.


To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.

Last edited by abhishreshthaa; September 7th, 2010 at 06:41 PM..
   
Friends: (0)
Reply With Quote
Re: Audits and Its types
Old
 (2 (permalink))
James Cord
jamescord is an unknown quantity at this point
 
jamescord
Management Paradise Guru
 
Status: Offline
Posts: 2,112
Join Date: Mar 2016
Re: Audits and Its types - March 2nd, 2016

Quote:
Originally Posted by abhishreshthaa View Post
Audits


Audits involve the physical inspection of inventories, sales receipts, shelf facings, prices, and other aspects of the marketing mix to determine sales, market share, relative price, distribution, or other relevant information.



Store Audits
  • The simple accounting arithmetic of opening inventory + net purchases (receipts - transfers out - returned inventory + transfers in) - closing inventory sales is the basis for the audit of retail store sales.

  • The most -, widely-used store audit service is the Nielsen Retail Index. It is based on audits every 30 or 60 days of a large national sample of food, drug, and mass merchandise stores.

  • The index provides sales data on all the major packaged goods product lines carried by these stores-foods, pharmaceuticals, drug sundries, tobacco, beverages, and the like (but not soft goods or durables).

  • Nielsen contracts with the stores to allow their auditors to conduct the audits and pays for that right by providing them with their own data plus cash.

  • The clients receive reports on the sales of their own brand and of competitors' brands, the resulting market shares, prices, shelf facings, in-store promotional activity, stock outs, retailer inventory and stock turn, and local advertising.

  • These data are provided for the entire United States and by region, by size classes of stores, and by chains versus independents.

  • The data are available to subscribers on-line via computer as well as in printed reports

Product Audits
  • Product audits, such as Audits and Surveys' National Total Market Index, are similar to store audits but focus on products rather than store samples.

  • Whereas product audits provide information similar to that provided by store audits, product audits attempt to cover all the types of retail outlets that handle a product category.

  • Thus, a product audit for automotive wax would include grocery stores, mass merchandisers, and drugstores (in this way it is similar to the Nielsen store audits).

  • In addition, it would include automotive supply houses, filling stations, hardware stores, and other potential outlets for automotive wax.


Retail Distribution Audits
  • Similar to store audits are retail distribution audits or surveys.

  • These surveys do not measure inventory or sales; instead, they are observational studies at the retail level.

  • Field agents enter stores unannounced and without permission.

  • They observe and record the brands present, price, shelf facings, and other relevant data for selected product categories.
Nice topic abhi,

It was really appreciable and i am sure it would help many people. Well, i found some important information Study on Types of Audit And Auditing and wanna share it with you and other's. So please download and check it.
Attached Files
File Type: pdf Study on Types of Audit And Auditing.pdf (391.9 KB, 0 views)
Friends: (0)
Reply With Quote
Reply

Bookmarks

Tags
audits, types


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off


ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.



Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.