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Marketing Mix Archives | Quantzig

Tag: Marketing Mix

marketing mix modeling

Maximizing Drug Launch Sales Through Marketing Mix Modeling for a Leading Pharmaceutical Company

How we helped the client: Empowered a leading pharma company to gauge and optimize the effectiveness of their marketing campaigns through advanced marketing mix modeling solutions that helped align their marketing goals with market trends and customer behaviors, thereby supporting their end goal of achieving the ROIC target.

About the Client

The client is a leading US-based medical device and pharma drugs manufacturer. The company wanted to better understand the impact of their marketing tactics on their new drug launch and its sales by linking and analyzing complex datasets using advanced marketing mix and multi touch attribution models.

The Business Challenge

In today’s digitally inclined world where online, influencer-based, and personalized promotions need to work parallelly to impact consumer decisions, businesses must identify channels that help them better connect with their customers in order to drive revenue. To succeed in doing so, businesses need to adopt a comprehensive, commercially-focused approach to marketing mix modeling which can help them gain an accurate read on the ROI of their marketing investments. Leveraging fact-based marketing mix modeling and multi touch attribution solutions to optimize marketing investments can also drive significant improvements in marketing investments.

A robust marketing mix model can be the difference between the success and failure of a product. Request a FREE proposal to learn more about our marketing mix modeling solutions.

The pharma company faced several challenges in transitioning one of its products from the prescription-based category to OTC. To tackle this challenge, they needed to employ a full suite marketing mix modeling solution for their products in the American market. The marketing mix modeling approach had to quantify the impact of their marketing campaigns and promotions on sales, measure ROI for each marketing channel, and provide cross-channel attribution between social and traditional channels for media mix planning.

Solution Offered and Value Delivered

We adopted a comprehensive approach to marketing mix modeling that helped the client to accurately predict, optimize, and gauge the impact of their marketing activities, including media, consumer promotions, trade activities, and competitive activities.

Have an analytics-based need or want to know more about our services? Get in touch with an analytics experts.

Leveraging advanced multi touch attribution models also helped them quantify the ROI and sales lift of each drug category. Such a nuanced understanding of factors impacting marketing effectiveness enabled the pharma client to invest in marketing tactics that work. As a result, the client’s sales and marketing teams optimized campaigns to maximize revenue from each category.

Our marketing mix modeling solutions also enabled the client to:

  • Implement a unique approach to improve cross-channel attribution
  • Generate $2M in incremental profit
  • Reduce marketing costs by 60% and exceed launch sales goals

marketing mix modeling

Learn to optimize your marketing campaigns to drive revenue and improve MROI using our marketing mix modeling solutions. Request for more information now!

How does Marketing Mix Modeling Work?

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Marketing mix

Marketing Mix Modeling | Embedding Analytics Capabilities to Drive Better Marketing Outcomes

The client is a leading non-generic drugs manufacturer based out of the United States. They wanted to establish a marketing mix strategy to calculate the ROI for their marketing initiatives.

The Business Challenge
The pharma sector is navigating a profound transformation. With the ongoing shifts in market demands and consumer needs, pharma companies are finding it hard to adapt to the changes to gain a leading edge. Along with challenges the transformations have also presented new opportunities for pharma companies to focus on a variety of new marketing mix models to improve the performance of their products by tapping into new revenue streams. Today resource allocation for new drug launch or even an existing product is not a simple task. Owing to the complex business scenario and the availability of diverse marketing channels, finding the right marketing mix strategy has turned out to be a major challenge for players across industries.

Having launched a new drug in the non-generic drugs segments the client faced several challenges in generating a useful market share for the new product. To effectively address this issue they wanted to adopt a more holistic, commercially focused approach to gain in-depth insights into their marketing initiatives. As such, they approached Quanztig to leverage its marketing analytics expertise in developing a robust marketing mix modeling strategy.

Gain data-driven insights to deliver profitable results by leveraging Quantzig’s marketing mix modeling solutions

Request a FREE demo.

Solutions Offered and Value Delivered

Our marketing analytics experts helped the client to build a robust marketing mix model to gauge the effectiveness of individual marketing channels. The devised model helped the client to systematically gauge target markets to optimize marketing investments and maximize profits from specific regions. A holistic approach to marketing mix modeling helped the client to embed the required analytic capabilities into their marketing processes to drive better business outcomes.

The marketing mix modeling solutions also helped the client to:
• Reduce total marketing spend by 15%
• Increase market share for the newly launched drug
• Improve the ability to quantify the marketing effectiveness of channels and events in terms of MROI

Optimize your marketing efforts and outcompete your competitors with our marketing mix modeling solutions. Request for more information right away.

How does marketing mix modeling work?

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marketing mix modeling

Driving Profitable Growth in the Food and Beverage Sector with Marketing Mix Modeling – A Case Study by Quantzig

The Business Challenge

With the onset of the fourth industrial revolution and the invention of new technologies such as IoT, AI, and VR, the world is slowing shifting into digital platforms. As a result, most consumer and business purchases happen through multiple touchpoints with various factors affecting customer decisions. However, the marketing data can be mined to reveal the decision-making patterns of customers through marketing mix modeling. By adopting an appropriate marketing mix modeling strategy, businesses can find answers to several important questions such as:

  • What impact does each of my campaigns have?
  • What is the cost per conversion and ROI?
  • What should I do to maximize my revenue and profits?

Marketers in the food and beverage industry are constantly faced with the challenge of allocating their fixed marketing budget across various marketing channels. The client, a leading food products manufacturer was facing a similar challenge and was looking at setting up an optimum marketing mix strategy to calculate ROI for their marketing campaigns. The client’s marketing spend data was unstructured and scattered across several digital platforms, making it difficult to analyze datasets and draw conclusions. The company approached Quantzig to leverage its marketing mix modeling expertise to understand the market dynamics for specific product categories. 

Before you take the leap, it’s essential to understand how much each marketing input contributes to sales and how much you should be spending on each marketing input. Request a FREE Proposal to know more about marketing mix modeling.

Solutions Offered and Value Delivered

In an attempt to help the client, the marketing mix modeling experts at Quantzig adopted a comprehensive approach that revolved around the use of marketing analytics to identify and deploy the ideal marketing mix strategy. As the client was involved in a number of marketing activities it was first essential to gauge the contribution of each marketing vehicle to identify the growth drivers for specific product groups. The marketing mix modeling strategy not only helped them to identify major gaps and new product potentials, but also helped them to reallocate their marketing budget to better support their marketing initiatives, resulting in a 35% increase in sales and a 60% improvement in marketing efficiency.

The marketing mix modeling solution also helped the client to:

  • Drive significant improvements in marketing campaign effectiveness
  • Balance short-term marketing and promotion tactics with long-term brand building strategies
  • Quantify the ROI of improving marketing effectiveness in terms of sales, profits, and share
  • Optimize future marketing investments

Cut Down on your Marketing Spend and Save Millions with Quantzig's Marketing Analytics Solutions

Marketers today face a similar challenge which revolves around identifying the activities that actually help drive revenue. Request a FREE Demo to know how marketing mix modeling can help you address this predicament.

Four P’s of Marketing

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