Claims:We claim:
1) The system and method for marketing of seasonal demand by using big data technology is comprising of the contents such as;
a. Backend server- an application marketing of seasonal demand is installed;
b. Any open-source framework like Hadoop for data analysis which stored data on big data; and
c. An application for marketing of seasonal demand
2) The system claimed in claim 1 wherein, system would categories seasonal inventory.
3) The system claimed in claim1 wherein, system would improve demand forecasting.
4) The system claimed in claim 1 wherein, system would identify timelines of seasonal demand.
5) The system claimed in claim 1 wherein, system would streamline order fulfilment.
, Description:FIELD OF INVENTION
The present invention discloses the system and method for marketing of seasonal demand by using big data technology. The invention is related to retail marketing, which are now well developed due to upcoming technologies. Big data is one of the best technologies which can used for retail marketing.
BACKGROUND OF INVENTION
Seasonal demand is consumer interest in purchasing particular products only during a specific period within the calendar year. For example, Diwali items, Navratra items are subject to seasonal demand.
Seasonal demand is defined as a certain time series with repetitive or predictable patterns of demand, due to re-occurring seasonal events.
Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company.
Seasonal demand marketing is the marketing of the product or items which are demanded for particular season.
Marketing is important because it allows businesses to maintain long-lasting and ever-present relationships with their audience. It is not a one-time fix; it is an ongoing strategy that helps businesses flourish. It engages: customer engagement is the heart of any successful business.
As seasonal demand is only needed for particular time, retailer should know how to reach to customer for particular seasonal demands to achieve profit and not loss. For this reason, marketing of seasonal demand must be very good.
Currently, there is no proper system for marketing of seasonal demand.
The present invention solves the above issues. The system and method for marketing of seasonal demand by using big data technology. The invention system, by collecting the online social network data and information created by customer, system suggest the best seasonal stock of inventory which is needed most. Those big data technologies give us a new thought of developing the system and method for marketing of seasonal demand.
Big Data Technology can be defined as a Software-Utility that is designed to Analyse, Process and Extract the information from an extremely complex and large data sets which the Traditional Data Processing Software could never deal with.
OBJECTS OF THE INVENTION
The main object of the invention is that, the system and method for marketing of seasonal demand in retail by using big data technology.
Another object of the invention is that, the system should track historical data and plan ahead.
Another object of the invention is that, the system should use predictive analysis about the seasonal sale.
Other object of the invention is that, the system should offer discounts and market it properly with proper strategy.
SUMMARY OF THE INVENTION
The present invention discloses the system and method for marketing of seasonal demand by using big data technology. The invention application is installed at backend server. Big data technology analyses the information from various sources to predict which seasonal product items should be sale for particular period. And with the help of this information retailer can plan marketing campaigns, points of sale, websites, customer surveys, social media, online communities and loyalty programs.
BRIEF DESCRIPTION OF DRAWINGS
Fig 1 shows flowchart of the system and method for this invention.
DETAILED DESCRIPTION OF THE INVENTION
The present invention discloses the system and method for marketing of seasonal demand by using big data technology.
Big data is the vast volume of structured or unstructured data that is readily available at our collective fingertips. These large data sets are analysed to reveal previously unknown patterns and provide insights into businesses, human behaviour, and more. Big data analysis is used for everything from financial services, to gauging someone’s productivity, to even monitoring the weather and also detecting the traffic jam on particular road.
Big data collect data from various sources like internet, website and social media to know about which seasonal items should be in demand for coming seasonal event or festival. Also, it suggests how much seasonal items should be stocked and for how long it should be stocked to prevent any out of stock. With the help of this information retailer can do marketing of seasonal product items to achieve profit in business.
The key feature of big data is to analyse, understand and interpret it in order to give user a full a picture as possible about the marketing seasonal product items.
The system and method for marketing of seasonal demand by using big data technology is comprising of the contents such as;
Backend server – An application marketing of seasonal demand is installed
Any open-source framework like Hadoop for data analysis which stored data on big data.
The marketing of seasonal demand application
Big data consists of five stages such as-
Data sources- web and social media, machines, Sensing, IoT
Content format – structured, semi-structured, unstructured data
Data stores – document oriented, column oriented, graph database, key value
Data Staging – cleaning, transform and normalization
Data processing – Batch and real time
The system and method for marketing of seasonal demand by using big data technology is comprising of the following steps such as;
Step 1) An application for marketing of seasonal demand is created and data for that an application is provided by big data
Step 2) Marketing team member start the invention application
Step 3) Marketing team member get the list of seasonal items which should be stocked for particular period
Here, the role of big data technology is as of;
Big data technology analyses the information from various sources to predict which seasonal product items should be sale for particular period. And with the help of this information retailer can plan marketing campaigns, points of sale, websites, customer surveys, social media, online communities and loyalty programs.
Big data have some advantages for the invented system, such as;
Categorise seasonal demand – Categorising demand stock based on product life cycle helps to differentiate the purely seasonal products from perennial product that are sold year-round but experience times of increases demand according to the season. Purely seasonal products are those items that attract no demand outside of the season with which they are associated. These products include such things as Diwali, Navratra decorations and confectionery.
Improve demand forecasting – Forecasting demand is one of the greatest challenges to inventory control for seasonal demand. At best, retailer taking an educated guess at how many sales expect to make within a given period, but there are many tools available to assist with seasonal forecasting that help predicts basic or seasonal trends. Analyse historic data and seasonal variations to identify issues that may affect the replenishment of perennial products throughout the year and use this information to set minimum stock levels. Undertake an inventory audit by manually counting inventory stock leading into busy periods to ensure the recorded quantities match the actual in-stock numbers.
Identify timelines of seasonal demand – To plan appropriately for peak times, retailer need to understand the length of market peak seasons. This enables retailer to determine degree to which retailer can respond to product sales throughout the season.
Streamline order fulfilment – Managing inventory packing, tracking and shipping can be a challenge when seasonal demand brings an influx of orders. Implement an order management system to overcome issues and ensure smooth fulfilment tasks during holidays. Software will help retailers seamlessly manage back-end operations, including inventory tracking, order management and smart, more response replenishment.
Better marketing of seasoned demand – With the help invention, marketing team get list of seasonal items which would be in demand for coming season, event or festival.