What-if Analysis — Market Response Modelling
Exhibit 20.18 What-if analysis for price discounting. (Disguised data, click to download workbook)
The output of a market model is a set of equations that spell out the relationship between sales and the variables of the market mix. With these equations one can predict what will happen if changes are made to the mix variables. Exhibit 20.18, for instance, provides an example of a "What-if" analysis tool to simulate the impact of price discounting. By changing the discounts in "%Price Off" column the user is able to see how those discounts will affect the sales volume and sales value, for the items in the category.
Note: To find content on MarketingMind type the acronym ‘MM’ followed by your query into the search bar. For example, if you enter ‘mm consumer analytics’ into Chrome’s search bar, relevant pages from MarketingMind will appear in Google’s result pages.
Market Mix Modelling - Solutions
Solutions for market mix modelling.
What they SHOULD TEACH at Business Schools
Is marketing education fluffy too?
Experiential Learning via Simulators | Best Way to Train Marketers
Marketing simulators impart much needed combat experiences, equipping practitioners with the skills to succeed in the consumer market battleground. They combine theory with practice, linking the classroom with the consumer marketplace.
