http://www.mpdailyfix.com/riding-the-groundswell-of-social-media-a-podcast-with-charlene-li/?utm_source=rss&utm_medium=rss&utm_campaign=riding-the-groundswell-of-social-media-a-podcast-with-charlene-li Opinions. Commentary. News. Sun, 12 Feb 2012 02:23:11 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://www.mpdailyfix.com/riding-the-groundswell-of-social-media-a-podcast-with-charlene-li/comment-page-1/#comment-35270 Marketing Mix Modeling - Analytical approach to identify right marketing channel Fri, 30 May 2008 08:49:49 +0000 http://www.mpdailyfix.com/riding-the-groundswell-of-social-media-a-podcast-with-charlene-li/#comment-35270 With the emergence of web 2.0, a number of channels evolved on web for marketing and promotion. Adwords, Banner Ads, Social networking sites, Blogs, Forums, Micro-sites etc. have proven to be a very successful channel for marketing and brand promotion. But then with so many marketing channels in hand both online and offline, managers and decision makers get stuck when it comes to spend budget allocation. How much to spend in which channel? Which channel is generating maximum ROI? Marketing Mix Modeling is an analytical approach to this problem. In simple terms, it involves breaking up of sales volume into various components, and analyzing spend on each of them to calculate ROI from each of these components. Then utilizing predictive analytics one can forecast sales through each of these channels and hence optimize the marketing spends to gain maximum value. Many Fortune 500 companies such as P&G, Kraft, Coca-Cola and Pepsi have made marketing mix modeling an integral part of their marketing planning. With the emergence of web 2.0, a number of channels evolved on web for marketing and promotion. Adwords, Banner Ads, Social networking sites, Blogs, Forums, Micro-sites etc. have proven to be a very successful channel for marketing and brand promotion. But then with so many marketing channels in hand both online and offline, managers and decision makers get stuck when it comes to spend budget allocation. How much to spend in which channel? Which channel is generating maximum ROI?
Marketing Mix Modeling is an analytical approach to this problem. In simple terms, it involves breaking up of sales volume into various components, and analyzing spend on each of them to calculate ROI from each of these components. Then utilizing predictive analytics one can forecast sales through each of these channels and hence optimize the marketing spends to gain maximum value.
Many Fortune 500 companies such as P&G, Kraft, Coca-Cola and Pepsi have made marketing mix modeling an integral part of their marketing planning.

]]>