Marketing Mix Models have been used successfully for years at consumer package goods (CPG) companies to increase their marketing effectiveness and efficiency. The four Ps (Product, Placement, Price, and Promotion) were as far as the models needed to go. Broad based media was and is very expensive which kept competition to a minimum. However, the marketing environment has changed in many ways and must be considered when looking to these models to improve marketing performance.
This webinar will address what needs to be different in marketing mix models to continue to have them improve marketing performance. These changes include:
- Lower cost media to encourage product trials and repeat purchases
- Non-CPG companies are developing marketing mix models even though their business environment is far different than CPG
- Competitive and external factors can change and affect the guidance that results from a model when the model was built using historical data
The webinar will educate attendees on what factors to consider when thinking about using marketing mix models to improve performance.
