(Length: 17 pages)

August 25, 2005

Best Practices In Market Mix Modeling

This is the second document in the "Marketing Measurement" series.

by Jim Nail

with Chris Charron, Jennifer Joseph


Executive Summary (This is a document excerpt)

Increased demand by CEOs for greater accountability of marketing spending comes just at a time when proliferating media choices undercut the simplicity of measuring branding or sales impact. Companies can learn valuable lessons from CPG marketers who have begun to untangle multichannel marketing's effects using sophisticated statistical models. The keys to success lie in scoping the project correctly, gaining the support of stakeholders, and working with a modeling specialist who can apply the findings to business problems.

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TABLE OF CONTENTS

NOTES & RESOURCES

itemLeft Brain Principles Come To Measurement

itemModels Require Clarity And Commitment

itemThe Market Mix Modeling Voyage

itemPhase 1: Plan The Project And Pick The Right Vendor

itemPhase 2: Prepare The Data And Organization

itemPhase 3: Build, Validate, And Enhance The Model

itemChoosing The Right Market Mix Model Partner

WHAT IT MEANS

itemModels Will Subsume The Marketing Process

itemSupplemental Material

Forrester interviewed 31 vendor and user companies, including: Accenture, ACNielsen, The Advertising Research Foundation, Dratfield Analytics, iKnowtion, Information Resources Inc., Knowledge Networks, Sequent Partners, and Veridiem.

Related Research Documents

itemWhat B2B Marketers Need From Technology

April 8, 2005, Trends

itemWhere Is Marketing Measurement Headed?

January 13, 2005, Trends

itemLeft Brain Marketing

April 6, 2004, Forrester Big Idea

Find Documents In Related Categories

This document falls under the following categories. Click on a link below to find similar documents.

Technology: Direct Marketing, Interactive Marketing, Marketing & Advertising, Marketing Planning
Geography: Asia Pacific, Europe, North America

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