The A-Z of Marketing and Retail Lingo

One of the first things we said when we were getting Relish off the ground was that we would make sure we don’t get caught in the trap of using too much jargon! Starting and running a food business is hard enough without having to spend ages deciphering jargon!

However, we do recognise that there is some terminology that you do need to know if you are to successfully navigate the path into major retail. So to help you out with this, we have begun compiling the following glossary that is worth checking out if you come across any retail or marketing terms that you’re not familiar with. 

 

Average weight of purchase (AWP) – along with frequency and penetration, forms the ‘holy trinity’ of how shoppers buy in your category. AWP is how much of a product households are buying, by weight or volume. This is often used when talking about the overall category you’re in rather than specifically about your brand

Call to action – a prompt to make them engage with you e.g. to download a guide or like your facebook page, etc

Category management – taking a holistic view of the whole category, e.g. dairy. Larger food manufacturers and retailers will be looking at data that shows how shoppers are behaving across the whole category, and that will influence how much space is allocated to each type of product, how promotions are managed, where the products sit in store, etc

Customer marketing – larger food manufacturers have teams of people responsible for working with specific major retailers on what types of promotions to run and when, advertising in retailer magazines, analysing data from loyalty card schemes, etc

FMCG – fast moving consumer goods

Frequency of purchase –how often a household buys your product (e.g. 3.5 times per month)

NPD – new product development

Outers – the cases your products are packed in

Penetration – what percentage of the total available households are buying your brand or are buying from your category (e.g. the penetration of teabags is 95% – 85% of households buy teabags)

Range review dates & periods – these are specific dates that retailers work to to launch products (NB: Retailers work to different review dates and periods)

ROS – rate of sale. This is how many units of your product are sold in each store

RRP/RSP – recommended retail price / recommended selling price. Essentially the same thing

SEO – search engine optimisation – how you build and populate your website to push it up the rankings in Google

SRP –shelf- ready packaging. This consists of ‘outers’ (the cases your products are packed in) that are quick and easy for the store staff to tear open and put on shelf, without having to take each product out

UPSPW – units per store per week. You may be targeted with a rate of sale in these terms

Do let us know if you hear one that’s not here and want an explanation or for us to add it to the glossary.  Drop us a line at [email protected]

 

*Image courtesy of www.freedigitalphotos.net