.svg)
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 ).
Read More.jpg)
The sole purpose of advertising is to sell products. It has no other purpose. David Ogilvy, who must have himself won many awards at the Cannes said - "If it doesn't sell, it isn't creative".
Whether you are a brick & mortar retail chain or one who sells off a website, it is mighty important to know, from which geography your customers come from.
.jpg)
Marketing is the art of predicting the future and hoping your target audience agrees. While time series analysis is the science of trying to make sense of a chaotic past. Together they form a love-hate relationship as complex as a Rubik's cube on a rollercoaster. So, buckle up marketers, because we are diving into the world of time series and market mix modelling.
.jpeg)
The COVID-19 pandemic has dramatically changed how markets operate and how consumers behave, shaking up the world in ways we’ve never seen before. As we move forward, the way we do marketing needs to change too. One key tool for this is the Marketing Mix Model (MMM), which traditionally helps businesses figure out the best ways to spend their marketing dollars and understand what works.
.jpeg)
How does one evaluate the return on investment from a sponsorship – let’s say the big bucks spent by Dream 11 on sponsoring the shirt of the Indian cricket team. Spend by Dream 11 was reported to be Rs 358 Cr for150 matches across all India teams – Men's, Women and Under 19. The interesting thing is that this rate is not even half spent by Byju’s and before them Oppo, who spent a whopping Rs 5.09 Cr per match. The increase and decrease in rate seems to be based on how buoyant some companies felt, a few years ago as opposed to how they are feeling today.
.png)
RainMan has worked for over 15 years in the area of Marketing Analytics, and one consistent and recurring theme has been that otherwise great marketing companies, leave a lot of opportunity go a begging when it comes to use of their assiduously collected data.