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Do you have trouble justifying your marketing budgets?
Can you easily determine which marketing activities are working better than others?
In an ideal world we would know how every customer and consumer makes their purchase decisions, how they respond to our (and our competitors’) marketing and how they develop preference for our products and services. At the other end of the spectrum it would be great to be able to know how our marketing budget is being spent. How much is spent on coupons, how much on direct mail or how much is spent on any our of our media options.
This white paper discusses several of the key marketing decision support tools to help provide the support marketers need in order to deliver increased profit at lower risk, for the same level of budget. It talks about cutting edge tools, such as:
- Agent-Based Modeling – A bottoms up model of the consumer including choice, segmentation, equity and competitive differentiation
- Marketing Mix Modeling – A statistical approach deriving ROMI coefficients between marketing drivers and consumer/customer response
- System Dynamics – A top down approach to determining relationships along the purchase funnel
- Conjoint Analysis/Discrete Choice Modeling – A consumer oriented approach based on how consumers make choices between product features, brands and price
Get ready to take your marketing planning process to the next level!
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