E
EDLP
See
everyday low pricing
.
elasticity
A measure of consumer responsiveness in terms of quantity of a product purchased in relation to the increase or decrease of the product's price.
elasticity of demand
The rate at which demand changes for a change in price. Change in demand divided by change in price.
end cap
A display at the end of an aisle.
end-of-life date
The date in which the normal demand for a product falls to a value very close to zero.
equivalent price difference
A measure of the difference between the initial equivalent price and the optimal equivalent price.
equivalent price percentage change
A measure of the difference between the initial equivalent price and the optimal equivalent price in terms of percentage change.
equivalent retail price
The shelf price of a product divided by the standardized unit of measure.
equivalent unit
A standardized measure of volume based on a process of equivalization. See also
equivalization
.
equivalent volume
The relative number of equivalent units sold. For example, if two 12-packs of Coke are equal to one equivalent case, and two equivalent cases are sold, then the equivalent volume is two.
equivalent volume difference
The difference between the initial equivalent volume and the optimal equivalent volume in absolute terms.
equivalent volume percent change
The difference between the initial equivalent volume and the optimal equivalent volume in terms of percentage.
equivalization
The assignment of a standardized unit of measure to a product based on the product’s description and the spread of sizes or counts that apply to that description. For example, both one case of Coke and two 12-packs of Coke are equal to one equivalent case. See also
equivalent unit
.
event
A group of promotions arranged in a particular theme.
everyday low pricing (EDLP)
A performance detail type which is used when a price change lasts more than eight weeks or significantly longer than a temporary price change.
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