Tag: marketing mix optimization

IR23

Marketing Mix Modeling: Top 10 Success Stories that Will Help You Decide If You Really Need It

In today’s competitive landscape, businesses find it difficult to measure marketing effectiveness. Understanding the future impact of a change in marketing metrics and optimizing investments to drive sales and profits for profitable customer segments is challenging for most companies. Moreover, the impact of operational factors and external factors such as weather, macroeconomic factors, and aggravating competition is increasing the marketing spend for businesses.

If investments are not optimized and analyzed properly, companies cannot identify their key drivers of profit, sales, and performance. Therefore, marketing managers need to take marketing mix modeling into account, to set the right foundation for their marketing initiatives and branding solutions.

Marketing mix strategy has the potential to streamline marketing activities to maximize revenues, profits, and predict sales while simulating various scenarios.

At Quantzig, we understand the impact that marketing mix modeling can have on your business. And to help companies bost marketing efficiency, we have listed below some of our top success stories that have helped numerous companies to implement an effective marketing mix modeling technique to maximize ROI.

Marketing Mix Modeling Success Stories

Success story #1: Marketing mix modeling paved the way for precise marketing mix strategyAnalyzing the key components of the marketing mix is a pre-requisite when it comes to developing a solid marketing mix strategy. Don’t you agree? Marketing mix modeling comes to rescue here as it did for one of Quantzig’s clients. By leveraging marketing mix modeling solutions, the client was able to use multiple regression techniques. Furthermore, this helped them predict the optimal mix of marketing variables and develop a rigid marketing mix strategy to persuade their customers to act immediately.

Success story #2: Marketing mix modeling paved the way for a 50% boost in ROI:Want to avoid wasteful spending and suboptimal results in your business? If yes, then this success story can inspire you. One of the Quantzig’s clients was facing issues boosting their ROI and approached Quantzig to leverage our expertise in offering industry-leading marketing mix modeling solutions to examine the relationship between marketing mix elements and performance measures. Our marketing mix modeling solutions proved useful for the client, especially in ascertaining the effectiveness of each marketing input in terms of ROI and this boosted returns to 50%.

Driving Market Advantage with the Help of Marketing Mix Modeling – A Retail Banking Case Study

Success story #3: Marketing mix modeling optimized the incremental value of investments: With the aid of marketing mix modeling, it becomes easy for any company to analyze the incremental value of investments. Do you want to know how? Our latest success story can shed light on how Quantzig’s marketing mix modeling techniques integrated both digital and traditional channels through the effective allocation of marketing budgets. With the help of marketing mix modeling, it becomes easy to gain actionable insights into the impact of the marketing campaigns across various business segments. Furthermore, marketing mix modeling is also very helpful when it comes to budget optimization, channel and campaign ROI analysis.

Analyzing the Incremental Value of Investments Through Marketing Mix Modeling for a Gourmet Food Retailer

Success story #4: How can marketing mix modeling can transform your business? Marketing mix modeling is the best way to evaluate past marketing outreach activities, forecast the return on investment, and measure its impact on the overall sales. It allows companies to gain actionable insight into market variables and their impact on sales. Irrespective of the industry in which the business operates, tmarketing mix analysis allows organizations to make strategic business decisions, identify opportunity costs, and optimize marketing strategies.

Marketing Mix Modeling Transforms the Healthcare Industry

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Success story #5: Marketing mix modeling quantified the impact of sales on marketing activities :Do you think quantifying the impact of sales on marketing activities is a tough nut to crack? Well, not anymore! Marketing mix modeling solutions can help you do so very easily as it did for one of Quantzig’s clients. Marketing mix modeling provided assistance to the client in understanding the impact of online media on sales and optimizing investments to drive profit. Furthermore, marketing mix analysis proved beneficial in measuring the potential value of all marketing inputs and make investments to increase long-term revenue.

Marketing Mix Modeling: How Quantzig Helped a Prominent Client in the CPG Industry Optimize their Marketing Spend

Success story #6: Leveraging marketing  mix modeling to reduce marketing spend significantlyThe key advantage of leveraging marketing mix modeling solutions is its go-to-market research evaluation approach. This is what formulated the way for better savings since Quantzig’s marketing mix modeling solutions quantified the effectiveness of marketing channels in terms of revenue, incremental sales, ROI, and contributions for the client. Furthermore, it also unlocked the business potential and reduced marketing spend significantly.

Marketing Mix Modeling Helps an Electronics Retailer Reduce Marketing Spend

Success story #7: Why is marketing mix modeling inevitable for your business? Marketers often face the challenge of correctly determining and analyzing the effectiveness of their campaigns across offline and online marketing channels. Ideally, marketing strategies are concocted by using primary and secondary media research, but if you do not measure the marketing effectiveness efficiently, you might be missing out on some vital information. This is where marketing modeling mix helps and therefore, ignoring it is not at all recommended for businesses if they really want to stay ahead in the competition.

Why is Marketing Mix Modeling Inevitable for Your Business?

Success story #8: Marketing mix modeling offered a real-time solution for investment decisionsMaintaining and increasing market share on the basis of optimization of marketing spends is a real challenge that almost all businesses face. This is the problem that one of the clients of Quantzig also faced and marketing mix solutions helped them effectively. With its ability to analyze various data such as sales data, market-level media measure, variable marketing expenses, fixed marketing expenses, and economic and purchase funnel indicators, it provided the management with a decision support system and analyzed the sales at the granular level.

Marketing Mix Modeling Helps a Leading Bank Gain a Holistic Overview of Their Marketing Spend

Success story #9: What are the thumb rules of marketing mix modeling? Marketing mix modeling may include a vast range of marketing variables; however, companies must understand that it does not follow a ‘one size fits all’ approach. Every brand is unique and so are the variables impacting that particular brand. The thumb rules such as setting realistic levels or base line, avoiding hasten decision making, understanding the underlying factor behind growth, maximizing participation and involvement across all channels of an f organization, can help companies boost their ROI to an optimum level.

The Heuristics of Marketing Mix Modeling (MMM)

Success story #10: Marketing mix modeling laid mechanism for comparative ROI analysis :In this era of technology, understanding the impact of media investments at both national and local levels for products or services is very crucial for companies. Don’t you feel so? Marketing mix model can assist companies in improving the ability to quantify the marketing effectiveness of various media channels and events in terms of ROI and revenue. Furthermore, it can also contribute to synergy analysis to identify the direct and indirect effect of media types on incremental sales.

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IR6

Quantzig’s Marketing Mix Optimization Helps a Leading Food Service Provider Optimize Their Marketing Efforts

What the Client Wanted

A leading food service client wanted to understand the problems related to marketing spend Request Proposaland further leverage the use of a robust marketing mix modeling to stimulate customer outcomes.

The Outcome

Gained a 360-degree approach to the market effectiveness and enhanced the ROI.

Food Service Industry Overview

The global food service industry includes restaurants and leading food chains that aim at expanding their consumer base by offering low-cost options to the customers to replace home-cooked meals. Over the years, the global food service industry has been greatly affected by economic volatility, altering consumer preferences, and market dynamism. As a result, leading food service companies are exploring innovative ways to meet the relentless demands of customers and improve their position in the market.


Food Service Industry Challenges

Shortage in the supply of raw materials: Of late, the food service industry has been witnessing a drastic shortage in the supply of raw materials and this can is due to the adverse weather conditions and natural calamities. Moreover, with the changing climatic conditions across the globe, the supply of raw materials has been hindered.

Economic instability: Owing to the recent fluctuations in the economy, the prices of the commodities have been increasing. This is mainly due to the Request Solution Demoextravagant tax rates being imposed by the governments across the globe. This fluctuation in the prices of commodities has greatly reduced the consumer’s spending.


About the Client

A leading food service provider based out of the United States.

Client’s Challenge

The food service provider with a considerable number of business units spread across the globe wanted to establish an optimum marketing mix model. Additionally, the client wanted to comprehend the problems related to their marketing spend and leverage the use of marketing mix modeling to stimulate customer outcomes –incremental volumes, revenues, and ROI.


Summary of our marketing mix optimization engagement
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Business Impact

With the help of Quantzig’s marketing mix optimization engagement, the food service provider quantified the marketing effectiveness of their channels in terms of revenue, contributions, incremental sales, and ROI. Additionally, the client gained a 360-degree approach to the market effectiveness and optimized their marketing efforts and measured an increment in the revenue and profit. The client also leveraged insights into market conditions to further improve the decision-making process and unlock organizations’ potential.

Marketing Mix Optimization Solution Insights

Quantzig’s marketing mix optimization engagements can help firms in the food and beverage space to measure the impact of long-term sales and the overall customer experience. Additionally, food service providers across the globe can measure how specific channels are performed at specific time intervals in the presence of negative media publicity. This further helps companies evaluate their ROI.


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IR20

Online Retail Client Enhance Business Performance Using Marketing Mix Optimization

Online retail

LONDON: Quantzig, a global analytics services provider, has announced the completion of their latest marketing mix optimization for an online retail client. The increasing usage of mobile devices for shopping and alternative payment methods by shoppers are fueling the growth of online retail space. Amid the recent economic uncertainty, leading organizations are planning to develop competitive strategies to reduce operational costs and further improve their product offerings. Moreover, leading organizations are linking financial and operational plans to track performance and improve their overall business efficiency.

“Marketing mix helps businesses quantify their marketing activity to understand the impact of their marketing campaigns on the business performance. The primary objective of the engagement was to quantify the impact of marketing decisions on the past and the future sales.” says an expert at Quantzig.

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The solution offered helped the online retail client assess the marketing effectiveness and allocate the future spend to improve business efficiency. Furthermore, the solution also helped the client determine the effectiveness of advertising and targeting campaigns across various channels. The online retail client was able to optimize their cost and adjust new initiatives to deliver the business goals better with the help of the solution.

 

Additional Benefits of the Marketing Mix Solution

  • Identify the actual drivers of performance and segregate it into internal and external factors
  • Gain actionable insights to increase sales, market share, and marketing ROI
  • To know more, request a proposal

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IR35

Why Marketing Mix Should Be in the Basket of Every Retailer

Marketing mix is often regarded as the cornerstone of success for retail companies. A retailer must engage in planning, research, and analysis before implementing a marketing strategy. At the core of any retail marketing plan is the marketing mix consisting of the four Ps – Product, Price, Place, and Promotion. Furthermore, with packaging gaining immense traction for retail companies in the recent years, packaging is said to be the 5th P of the marketing mix. In the case of services, the marketing mix consists of 3 Ps – People, Process, and Physical evidence. These elements form an integral part of the strategy formulation and decision making-process for retail companies. Still not convinced of the benefits of marketing mix for a retailer? Here are some vital reasons why it is considered inevitable and of great importance in the retail industry:

Aids new product development

During the product design stage for a new item, there could be several ideas which can crop up for a related product that can be designed by the company. The place, pricing, and promotions might be different for these products. It can be classified as a new product; and while designing the marketing mix, retail companies can come up with good ideas for new product development as well.

Better resistance to contingencies

By gaining a clear understanding of their product, processes, people, promotion, retailers can respond to unforeseen contingencies with more agility. During a recession or in a poor business environment, companies will be able to respond better if they have in-depth knowledge of their marketing mix.

Helps in differentiation

When retailers analyze their marketing mix with that of their competitors, there are many different ways you can differentiate yourself from the competitors. The competitor might have poor promotions and by analyzing them, you can create better promotions of your own product. By doing things, companies will gain knowledge on the weak points of the competitors and build on them to get a competitive advantage. For instance, the competitor might have poor promotions and by analyzing them, companies can create better promotions of their own product.

Guide to improve business

Marketing mix is as important to service-based companies as it is for product-based companies. If a restaurant or an interior design business realizes that it’s important, then naturally they can act on it and improve the physical evidence of their business; thereby, bringing in more business. Knowing the people and process are important to the organization and optimizing both can improve the overall efficiency of an organization. Hence, marketing mix is an excellent guide if a retailer wants to improve their business or conduct a gap analysis.

Better product portfolio

When retail companies want to increase the product depth or product line and length, they must make minor changes to the product. In essence, it involves making minor changes in the marketing mix itself. Changes are being made to the product features, to its pricing and possible to its promotions. As a result, by altering the marketing mix and certain features within it, companies can end up with an enlarged product portfolio.


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IR26

Marketing mix optimization Helps an Electronics Retailer Efficiently Promote their Marketing Campaigns

marketing mix optimization

LONDON: Quantzig, a global analytics services provider, has recently completed their latest marketing mix optimization for an electronics retailer client. The electronics industry comprises of companies offering advanced electronics products such as laptops and mobile phones. The rising rate of innovations is promoting electronics retailers to redefine their shopping experience by providing some wide array products through virtual stores in the form of websites and mobile applications. The availability of online platforms offering discounts and the increasing penetration of the internet are some of the key factors fueling this industry.

“Marketing mix optimization help businesses in the electronics industry to utilize historical information to quantify the impact of marketing campaigns on the business performance. The marketing mix optimization solution also helps electronics retailers identify effective ways to understand the marketing spend and determine a robust marketing mix to enhance the returns on investment.” says an industry expert from Quantzig.

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The marketing mix optimization solution helped the electronics retailer client to identify the strengths and weaknesses of their marketing campaigns and optimize their marketing mix across digital and social media channels. The solution also helped the client understand the impact of external factors such as seasonality, competitive actions, and economic conditions on the overall sales performance.

Additional Benefits of the Marketing Mix Optimization Solution

  • Improve the effectiveness of the marketing campaigns and reallocate the spending to increase
  • Measure, analyze and manage marketing performance, and determine the impact of marketing activity on various prominent channels
  • To know more, request a free proposal

To know more about how our marketing mix optimization solution helped the electronics retailer

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IR15

Marketing Mix Optimization Helps A Leading Soft Drink Beverage Industry Client Increase Customer Visibility

The client: Soft drink beverage manufacturer

Area of engagement: Marketing mix optimization

The global soft drink beverage industry comprises of firms manufacturing sparkling drinks, bottled water, juices, concentrates, smoothies, functional drinks, and ready-to-drink coffee and tea. A soft drink typically does not contain alcohol but can have up to 0.5% alcohol content. Consumer preferences, growing population, and health awareness are the major growth drivers for the industry. Within the global beverage industry, beer is expected to remain the largest segment by value. However, the increase in the consumption of non-alcoholic beverages by consumers, population base of the young generation, and increasing per capita income are the major driving forces that spur growth for this segment.

However, our analysis of the global beverage industry shows that the soft drink beverage firms are facing challenges in terms of:

  • Health-oriented customers: Today, consumers are usually concerned about their health and consider consuming a beverage which consists of organic compounds. A soft drink is not considered to be appropriately processed, as a result, companies are finding their way out of this roadblock by developing healthy drinks.
  • Slow product innovation cycles: Bringing to market new products that align with emerging consumer trends in a timely manner is difficult for many soft drink beverage companies as the process of creating new, relevant products and moving them through R&D, testing, and marketing to retail takes time.

Several such factors are compelling soft drink beverage industry players to leverage the use of robust marketing mix optimization solutions. Marketing mix optimization solutions help food and beverage industry firms to determine the value of marketing activities and interactions while identifying the revenue and cost opportunities for the same. QZ- Request free proposalThese solutions also offer insights into the challenges of optimizing marketing mix, the benefits of leveraging digital channels in the marketing mix, and the future of marketing strategy development in organizations.

The Business Challenge

The client, a leading manufacturer of soft drink beverage with retail outlets spread across the globe, wanted to align themselves with the strategic business planning process better and increase profit and shareholder value. Additionally, the client was facing challenges allocating the future spend for enhancing market attractiveness. As a result, they wanted to optimize their spend on marketing. Furthermore, the client wanted to measure the impact of their advertising on the overall sales revenue.

Want to learn more about our marketing mix optimization solutions for the global beverage industry?

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The Solution and the Business Impact

Quantzig’s marketing mix optimization solution helped the soft drink beverage client accurately track their media spend and sales and improve their overall business performance. Additionally, the client was able to allocate their marketing budget effectively and spend across media platforms to increase customer visibility. This further helped them increase brand appeal and enhance their ROI.

Marketing Mix Optimization Predictive Insights

With the help of Quantzig’s marketing mix optimization solutions, beverage companies can develop marketing strategies that will help in increase incremental sales, driving profitability, and improve conversions by identifying media channels that are effective and profitable in reaching customers.


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demand and capacity planning

Food Retail Client Leveraged Marketing Mix Optimization to Improve Budgetary Decisions

Food retail

LONDON: Quantzig, a global analytics services provider, has recently completed their latest marketing mix optimization solution for a retail food client. Food retail is one of the most dynamic and fast-paced sectors with several players venturing into this market. The food retail space is a strong contributor to fueling economic growth and development of the economy. They also contribute to the rise in per capita income, improved infrastructure, and growing consumerism.

“Marketing mix optimization solutions help food retailcompanies in measuring the impact of marketing tactics on sales. Furthermore, these solutions help food retail firms in developing marketing mix models to understand and access the incremental value of their investments.” says an industry expert from Quantzig.

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The marketing mix optimization solution helped the client to determine the past impact of various marketing channels on revenues and provided insights to reallocate resources to form an optimum marketing mix model. The solution also helped the food retail client to allocate their marketing budget efficiently among various marketing channels.

Additional Benefits of Marketing Mix Optimization

  • Gain more accurate insights on the ROI of their marketing investments
  • Drive improvements in the marketing effectiveness.
  • To know more, request a free proposal

To know more about how our marketing mix optimization solution helped the food retail client

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IR33

Marketing Mix Optimization Helps a Renowned Online Retail Client Enhance Business Performance by 15%

The client A renowned client in the online retail space

Area of engagement- Marketing mix

The online retail space is witnessing considerable growth due to the increasing usage of mobile devices for shopping and alternative payment methods by shoppers. Amid the recent economic uncertainty, leading organizations are planning to develop competitive strategies to reduce operational costs and further improve their product offerings. Moreover, leading organizations are linking financial and operational plans to track performance and improve their overall business efficiency. In the midst of stiff competition and increasing budget concerns, prominent businesses are planning to redesign their strategies to streamline supply chain operations and gain better visibility into their product offerings.

Some of the factors curtailing the growth of online retail client include:

  • Stiff competition: The online retail space is witnessing robust competition, with a considerable number of retailers offering products at discounted prices. The rigid competition among the retailers is compelling businesses to offer products at lower rates. With consumers demanding authenticity and reliability in the products, businesses are facing the need to provide seasonal offers and Black Friday sales to promote their product offerings.
  • Maintaining customer loyalty: Today, the customers are more demanding and are looking to purchase products at affordable prices. In the case of any negative experience or any hindrance, there is a probability of the customers to churn. With the online space offering huge discounts, it becomes difficult for the small online retailers to offer discounts and benefits to the customers. Also, the presence of false or spam orders can create a logistical hindrance for e-commerce companies.

To address such challenges and devise effective marketing campaigns to improve the overall performance, leading organizations are leveraging marketing mix solutions. Marketing mix helps businesses quantify their marketing activity to understand the impact of their marketing campaigns on the business performance.QZ- Request free proposal

The Business Challenge

The online retail space is expected to account for one-tenth of the total retail sales worldwide.

The client, a renowned online retailer, wanted to assess the marketing effectiveness and allocate the future spend to improve business efficiency. With the help of Quantzig’s marketing mix solution, the online retailer wanted to determine the effectiveness of advertising and targeting campaigns across various channels. The client also wanted to optimize their cost and adjust new initiatives to deliver the business goals better. The primary objective of the engagement was to quantify the impact of marketing decisions on the past and the future sales.

QZ- marketing02

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The Solution Benefits and the Business Impact

Strategies we recommend to improve the performance of marketing campaigns

The marketing mix solution offered by Quantzig helped the client in the online retail space to understand the impact of marketing activities on the revenues, volume, and price perception. The engagement also helped the client identify the actual drivers of performance and segregate it into internal and external factors. The solution further assisted the online retail client gain actionable insights to increase sales, market share, and marketing ROI.

Marketing Mix Solution Predictive Insights

Quantzig’s market mix solution helped the client in the online retail space understand the external influences such as competitive actions, seasonality, and economic conditions on the sales performance. The engagement also helped the online retail client reallocate their spending to assess progress and improve top-line revenue.


To know more about how our marketing mix optimization solution helped the online retail client

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IR30

An Alcoholic Beverages Manufacturer devises Marketing Mix Optimization for Improving Brand Appeal and Enhancing ROI

marketing mix optimization

LONDON: Quantzig, a global analytics services provider, has recently completed their latest marketing mix optimization for an alcoholic beverages manufacturer. Growing urban population and increasing disposable income in emerging economies are some of the significant contributors to the inclination towards alcohol. The global alcoholic beverages market includes products such as beer, wine, and spirits. Lager, cider, and beer are significant contributors to the total alcoholic beverages consumed across the globe.

“As e-commerce platforms are rapidly evolving across the globe, the consumer experience is expected to have a significant impact on the alcoholic beverages industry. Marketing mix optimization helps companies to assess the impact of their marketing activity across different channels.” says an industry expert from Quantzig.

Request your FREE demo today!

The marketing mix optimization helped the client to efficiently allocate their marketing budget and spend on media platforms to increase customer visibility. Additionally, the company was able to improve their brand appeal and increase ROI for their offerings across various media platforms.

Additional Benefits of Marketing Mix Optimization

  • Measure the impact of advertising campaigns on the overall sales revenue.
  • Track media spend and sales and improve overall business performance
  • To know more, request a free proposal

To know more about how our marketing mix optimization helped the alcoholic beverages manufacturer

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