Background
Solution
We built five marketing mix models (MMMs) that included regular above and below the line media, as well as trade and promotions data. To improve the accuracy of the measurement, we incorporated relative price as a new metric into the models. Relative price, which captures the impact on brand volume based on price relative to the competition, offers a useful alternative to actual price, which captures the simple relationship between increasing product price and volume declines.
We also deployed Gain Theory Interactive – our advanced decision-making platform – to create actionable insights. As well as viewing the performance of current investment decisions, the company used GTI to forecast the performance of, and create scenarios about, future decisions.
Results
increase in profit ROI