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August 25, 2005 Best Practices In Market Mix Modeling by Jim Nail with Chris Charron, Jennifer Joseph

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Executive Summary

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.

TABLE OF CONTENTS

• Left Brain Principles Come To Measurement
• The Market Mix Modeling Voyage
• Choosing The Right Market Mix Model Partner

WHAT IT MEANS

• Models Will Subsume The Marketing Process
• Supplemental Material
• Related Research Documents

This is an excerpt