What Is 'Advance Canvass'

An advance canvass is a marketing technique used by companies to generate "buzz" in advance of a new product launch or promotional campaign by visiting retailers to obtain their support. Advance canvassing is generally done when the launch of a product is imminent, as doing it well ahead of the launch may reduce its effectiveness.

BREAKING DOWN 'Advance Canvass'

Marketing representatives who are advance canvassers may offer additional incentives to their retailers for favored product placement and for exceeding sales targets for the new product. The company behind the new product needs to ensure not only that it has sufficient quantities in stock to satisfy initial demand, but also that the product performance lives up to the high expectations created by advance canvassing.

Canvassing is a type of marketing that businesses leverage to generate leads for the business. 

RELATED TERMS
  1. Advance Funding

    Advance funding is an early payment made on a future commitment ...
  2. Advance Payment

    An advance payment is one that is made ahead of its normal schedule, ...
  3. Promotion

    A promotion can refer to the advancement of an employee's position, ...
  4. Cash Advance

    A cash advance is a credit card issuers and banks allow clients ...
  5. Future Advance

    A future advance is a clause in a mortgage which provides for ...
  6. Marketing Mix

    The marketing mix, which focuses on product, price, placement, ...
Related Articles
  1. Investing

    Hedge Fund Launch Rate at 8-Year Low

    In 2016, fewer new firms appeared than at any time since the 2008 crisis.
  2. Investing

    The Four Rs of Investing in Retail

    Learn about the key success factors to consider for retail companies.
  3. Small Business

    5 Steps To A Small Business Marketing Plan

    Here are some tips for marketing your small business.
  4. Investing

    Industry Handbook

    In this feature, we take an in-depth look at the various techniques that determine the value and investment quality of companies from an industry perspective.
  5. Investing

    Consumer Spending As A Market Indicator

    Learn how people buy retail as where they shop can be one of the best indicators for how to predict the coming months of retail economic activity.
  6. Investing

    Amazon's Australian Launch Is Impending

    Amazon is gearing up to launch in Australia ahead of the holiday selling season.
  7. Investing

    189 New Hedge Fund Launches in Q1 2017: Why, God, Why?

    189 new hedge funds launched in the first quarter of 2017, but does that represent a welcome change for the industry or misplaced optimism?
  8. Tech

    How Blockchain reduces "Friction" in Retail

    Blockchain creates a more direct, mutually-beneficial playing field for retailers and shoppers alike.
  9. Managing Wealth

    Donald Trump’s Right That the Game Is Rigged – for Him to Make Money by Running

    Here’s how The Donald games election law to spin glitz into cash.
RELATED FAQS
  1. How does private placement affect share price?

    Understand what it means when a company does a private placement, and find out how this typically impacts the share price ... Read Answer >>
  2. What's normal for profit margin in retail sector?

    Find out the typical profit margin for a major retail company, and learn how it compares to the profit margins for other ... Read Answer >>
  3. Is the retail sector also affected by seasonal factors?

    Find out how the retail industry is affected by seasonal patterns in consumer tastes, especially for companies that tailor ... Read Answer >>
  4. What are the benefits of R&D (research and development)?

    Learn about the many benefits of research and development (R&D) efforts for companies in competitive markets, including the ... Read Answer >>
  5. Who are Target's (TGT) main competitors?

    Take a look at the battle of discount retailers. How Target is different from its competitors such as Walmart and Costco. Read Answer >>
Trading Center