SHELTON, Conn. — TABS Group Inc. has entered an agreement to provide promotion optimization services to over-the-counter health products company Prestige Brands Inc.
The consumer products marketing analytics firm said Tuesday that under the deal Prestige will use the TABS Promo Advantage suite of services to help it measure, plan and optimize its promotional spending.
"Prestige just announced record sales and profits, in large part due to our increased investments in marketing and promotion," stated Tim Connors, senior vice president of sales and marketing at Prestige Brands. "In order to partner and grow our core OTC brands with our customers, we need to provide promotional recommendations that deliver against our agreed upon goals. TABS Promo Advantage is the service that provides us the best capability to do that."
An Excel-based solution, TABS Promo Advantage includes TABS PromoMaster software for instant sales and profit analysis of trade promotion events and full account P&Ls. It also includes the TABS Promotion Planner, which provides top-down, corporate goal setting and bottom-up, account-level promotional planning.
In addition, the TABS Trade Promotion Optimizer leverages the modeling expertise of Kurt Jetta, TABS founder and chief executive officer, to provide recommendations for promotional timing and tactics by account and brand.
"We are gratified that Prestige Brands has shown the confidence in us to lead this important initiative," Jetta commented. "They are a perfect partner for us with this service, as they place a high priority on operational efficiency and speed-to-market. Consistent with that approach, we expect full implementation of this service within four months. Since the software is developed with an Excel background and utilizes cloud-based technology, we anticipate there will be minimal IT or training barriers in getting full compliance within the organization."
TABS said it has partnered with Hybrid Intelligence of Shelton, Conn., on the development of the TABS Promo Advantage Software.
"TABS Group has done some great work for us in the past in the areas of category management and ad-hoc analytics," stated Bill Maher, vice president of sales planning at Prestige Brands. "Therefore, we have confidence that they will maintain their superior service with this offering. From what we’ve seen so far, we can’t wait to get our hands on these tools."
