Market mix models can assess the impact of the elements of the marketing mix so that marketers may align their brand’s initiatives into a coordinated programme designed to drive revenue and profit. The models use statistical methods of analysis of historic market data, to estimate the impact of various marketing activities on sales. They reveal the effectiveness of the marketing mix elements in terms of their contribution to sales and profits, and can be benchmarked against costs to compute ROI. This knowledge empowers marketers to craft plans that optimize the use of resources, and infuse marketing decisions with the logic and discipline of analytics.
Details about key design considerations for market mix models are provided in the Marketing Analytics eGuide. The guide also offers guidance on how to apply, and how to interpret and analyse the output of these models. Snippets from the relevant chapter, Market Mix Modelling, provide illustrations of some of the techniques commonly applied by practitioners, including sales decomposition, due-to analysis and what-if analysis.
Market Intelligence and Data Visualization
Custom designed, interactive, automated, online dashboards that allow for the integration and visualization of market knowledge from diverse sources, in a manner that makes it easy to access and digest.
Consumer Analytics, Consumer Panels
Analysis of continuous individual/household level (customer level) behavioural data to address business issues.
Scan Track and Retail Analytics
Dashboards and analytic solutions for reading/analysing retail audit/scan track data; and techniques for analysis of continuous outlet level transaction and shopper data to address business issues.
Analytic techniques/dashboards for evaluating consumer promotions in terms of gains in volume value and profit; estimating discount price elasticity, price cross elasticity, decomposing sales, and applying due-to and what-if analysis.
Quantitative Research, Customer Satisfaction Research
Custom designed solutions for data processing and reporting with a working example of an interactive, automated online dashboard for Customer Satisfaction Research.
Ashok Charan, Associate Professor,
NUS Business School, National University of Singapore,