Analysis on sales and marketing time series data to estimate impact of marketing tactics
This article includes a list of general references, but it lacks sufficient corresponding inline citations. Please help to improve this article by introducing more precise citations.(November 2010) (Learn how and when to remove this message)
Marketing Mix Modeling (MMM) is used to estimate the impact of various marketing tactics (marketing mix) on sales, which can then be used to forecast the impact of future sets of tactics. MMMs use statistical models, such as multivariate regressions, and use sales and marketing time series data. They are often used to optimize advertising mix and promotional tactics with respect to sales, revenue, or profit.
The techniques were developed by specialized consulting companies along with academics and were first applied to consumer packaged goods, since manufacturers of those goods had access to accurate data on sales and marketing support.[citation needed] Improved availability of data, massively greater computing power, and the pressure to measure and optimize marketing spend has driven the explosion in popularity as a marketing tool.[citation needed] In recent times MMM has found acceptance as a trustworthy marketing tool among the major consumer marketing companies.
and 23 Related for: Marketing mix modeling information
The marketingmix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the...
each channel delivers to sales can be assessed via MarketingMixModeling or attribution modelling. Some companies target certain channels at different...
advertising spent in marketingmixmodeling. One of the first accounts of the term "customer lifetime value" is in the 1988 book Database Marketing, which includes...
against other marketing methods. Demand chain MarketingMarketing Strategy MarketingMixMarketing Management MarketingMixModelingMarketing Plan Strategic...
fermented in the minds of its consumers. Marketing-mixmodeling can help marketing leaders optimize how they spend marketing budgets to maximize the impact on...
Strategies often specify how to adjust the marketingmix; firms can use tools such as MarketingMixModeling to help them decide how to allocate scarce...
customer lifetime value modeling, and can be part of a simulator used to measure return on marketing investment using marketingmixmodeling. The term comes from...
serial The Curse of Peladon The number 3000, in Roman numerals Marketingmixmodeling, a method of statistical analysis Order of Military Merit (Canada)...
philosophies concerning the factors that should go into market planning. The marketingmix, which outlines the specifics of the product and how it will be sold...
attribution modeling in the digital or marketingmixmodeling context.[citation needed] These tools and techniques support both strategic marketing decisions...
analysis Product research Advertising the research Marketingmixmodeling Simulated Test Marketing[5] Changes in the market are important because they...
brand. More recently a revenue premium approach has been advocated. Marketingmixmodeling can isolate "base" and "incremental" sales, and it is sometimes...
aspects of planning. A retail mix is devised for the purpose of coordinating day-to-day tactical decisions. The retail marketingmix typically consists of six...
is an important component of marketing-mixmodels. The term "adstock" was coined by Simon Broadbent. Adstock is a model of how the response to advertising...
the Marketing Effectiveness continues to be an important business topic. A preferred marketing effectiveness analysis is marketingmixmodeling. Corporate:...
modelling is performed with a quantifiable goal. Examples include: Modeling the impact of federal policy on social problems. Modeling a marketingmix...
University Stern School of Business, and currently works for Google as a MarketingMixModeling Partner Program Manager. GP – Event of the ISU Grand Prix Series...
services and trade services. Service marketers often use an expanded marketingmix which consists of the seven Ps: product, price, place, promotion, people...
departments. The legacy of traditional marketing can still be seen in the traditional four Ps of the marketingmix: pricing, product management, promotion...
business-to-business marketers and advertisers in using affiliate marketing as part of their mix.: 149–150 Websites and services based on Web 2.0 concepts—blogging...
Global Information