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Marketing mix modelling(MMM) is an analytical approach to optimize marketing efforts. It quantifies the impact of various marketing inputs,such as product features, pricing strategies, distribution channels,promotional activities, competition activity, and environmental factors, to maximize return on marketing investment ( ROMI ).
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A standard question that faces marketers in today’s media scenario is how much to spend on online vs offline media. Advanced Marketing Modelling techniques can be used to throw light on this very important issue and help optimize spending for a brand
Learn how Marketing Mix Models (MMM) helped an FMCG brand increase sales by 8%. Find out how MMM optimized advertising strategies and media channels for better results.
MMM can take media variables at different levels to estimate their effectiveness. It can be at the media type level – TV, Print, Digital Media, Out of Home, In-store media, Mobile.
An MMM study revealed the overall price elasticity over the past few years. This meant that if the competition maintained or took a lower price increase, the brand would lose 7% of its value sales
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Marketing Managers have to look at how image parameters are being built up over time to protect the brand’s market share as well as grow sales in the longer run.
RoAS - the single most powerful metric known to advertisers. It can enrich or ruin your ad campaign. It can make or break your brand. It is an essential ingredient to optimise your Ad spend. According to some, it is the holy grail of marketing.