Marketing Mix Model: 6 Things you Should Know
Angshuman Bhattacharya
Entrepreneur in the AIML space with a successful exit. Building AIML organizations for two decades. Leader in client consulting for AI solutioning. (views expressed here are personal)
Marketing Mix Model refers to the usage of both analytical and statistical tools for identifying and measuring the impact of past marketing decision in order to predict the future impact of different marketing tactics on sales. This has been a great tool for preparing effective marketing plans. Marketing mix model predicts the assured path of getting profitable returns on various marketing investment. Let’s take a look at some other aspects of marketing mix model:
1. The success of effective marketing mix model depends on the availability of right and sufficient data. Moreover, the integrity of that data is also essential for an accurate marketing mix model. However, unlike the common perception, data is quite available at an enterprise than you can think of. You just have identify the right sources inside your organization.
- See more at: https://sibiaanalytics.com/blog/marketing-mix-model-6-things-you-should-know/