Marketing Mix Modeling

Case Study

Accelerated Market Mix Models for a Multi-Billion Dollar Portfolio of CPG Brands

Business Objective

Our client is a US-based multinational medical device, pharmaceutical, and consumer packaged goods manufacturer.
They needed a full-suite marketing mix modeling solution for their CPG and pharmaproducts in the American market. The solution had to quantify the impact of advertisingand promotions on sales; measure ROI for each advertising and promotional activity tooptimize spend; provide cross-channel attribution between social and traditional media formedia mix planning.

Challenges

  • Need to have a consistent approach across 25 products from 10 brands in 6 categories.Products included oral care, moisturizers, OTC drugs, body washes & lotions, baby care,medical-related, and OTC drugs
  • Varied marketing spend and promotional activities across brands and categories
  • Numerous data sources, and uneven and inconsistent data in multiple formats

Solution Methodology

  • In developing the solution, we used sales data from multiple sources such as:
    • Retail partners
    • Syndicated data provider
    • Offline media
    • Search and Website
    • Display ads
    • Digital media
    • Consumer promotion
    • Competitor retail data
  • Used Sales data from 44 retailers across the US
  • Uncovered the relationship between sales ($) and spend ($) for each channel/activity
  • Designed and implemented a unique technical approach to take care of cross-channel attribution between traditional and digital channels.

Business Impact

  • Built market mix models for all the 25 brands in under 4 months – a 40-50% reduction in time compared to traditional methods.
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