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Marketing Mix Modeling
Marketing Mix Modeling (MMM) is a forecasting methodology used to estimate the impact of various marketing tactic scenarios on product sales. MMMs use statistical models, such as multivariate regressions, and use sales and marketing time-series data. They are often used to optimize advertising mix and promotional tactics with respect to sales, revenue, or profit to maximize their return on investment. Using these statistical techniques allows marketers to account for advertising adstock and advertising's diminishing return over time, and also to account for carry-over effects and impact of past advertisements on the current sales campaign. Moreover, MMMs are able to calculate the magnitude of product cannibalization and halo effect. The techniques were developed by specialized consulting companies along with academics and were first applied to consumer packaged goods, since manufacturers of those goods had access to accurate data on sales and marketing support. Improved a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Mix
The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key components, often referred to as the "Four Ps of Marketing." These four P's are: * Product: This represents the physical or intangible offering that a company provides to its customers. It includes the design, features, quality, packaging, branding, and any additional services or warranties associated with the product. * Price: Price refers to the amount of money customers are willing to pay for the product or service. Setting the right price is crucial, as it not only affects the company's profitability but also influences consumer perception and purchasing decisions. * Place (Distribution): Place involves the strategies and channels used to make the product or service accessible to the target market. It encompasses decisions related to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sensitivity Analysis
Sensitivity analysis is the study of how the uncertainty in the output of a mathematical model or system (numerical or otherwise) can be divided and allocated to different sources of uncertainty in its inputs. This involves estimating sensitivity indices that quantify the influence of an input or group of inputs on the output. A related practice is uncertainty analysis, which has a greater focus on uncertainty quantification and propagation of uncertainty; ideally, uncertainty and sensitivity analysis should be run in tandem. Motivation A mathematical model (for example in biology, climate change, economics, renewable energy, agronomy...) can be highly complex, and as a result, its relationships between inputs and outputs may be faultily understood. In such cases, the model can be viewed as a black box, i.e. the output is an "opaque" function of its inputs. Quite often, some or all of the model inputs are subject to sources of uncertainty, including errors of measurement, er ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Media Weight
Media weight is a term used in advertising to refer to the size of the audience reached by an advertising campaign. Media weight is determined by the number and placement of advertisements in media such as television commercials, online ads, or billboards. Media weight is usually expressed in the form of GRP's (Gross rating Points), AOTS (Average opportunity to see) and reach of target audience. The main use of media weights is to monitor how well the goals of a communication plan are being reached. There are different ways to measure media weight. Measurement The most important method in measuring media weight is analysis of records. The analysis is done on basis of television, print and magazines reporting. Television spendings are reported as TAM rates and print as card rates. TV spendings can be analyzed on the basis of program genre, channel type, time duration and total airtime. The print rate analysis is done on the basis of color/monochrome, magazine, issue, placement of ad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yago
Yago or YAGO may refer to: *YagÅ, a term applied in traditional Japanese culture to names passed down within a guild, studio, or other circumstance other than blood relations *YAGO (database), a semantic knowledge base * Yago (name), includes list of people and characters with the name * ''Yago'' (telenovela), a Mexican telenovela from ''Televisa'' See also * Iago (other) Iago is the main antagonist in the play ''Othello'' by William Shakespeare Iago may also refer to: Biology * ''Iago'' (fish), a genus of hound sharks * Iago sparrow, endemic to the Cape Verde archipelago Characters * ''Iago'' (Aladdin), a pa ... * Jago (other) {{disambiguation, given name, surname ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nonlinear
In mathematics and science, a nonlinear system (or a non-linear system) is a system in which the change of the output is not proportional to the change of the input. Nonlinear problems are of interest to engineers, biologists, physicists, mathematicians, and many other scientists since most systems are inherently nonlinear in nature. Nonlinear dynamical systems, describing changes in variables over time, may appear chaotic, unpredictable, or counterintuitive, contrasting with much simpler linear systems. Typically, the behavior of a nonlinear system is described in mathematics by a nonlinear system of equations, which is a set of simultaneous equations in which the unknowns (or the unknown functions in the case of differential equations) appear as variables of a polynomial of degree higher than one or in the argument of a function which is not a polynomial of degree one. In other words, in a nonlinear system of equations, the equation(s) to be solved cannot be written as a l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Linear Regression
In statistics, linear regression is a statistical model, model that estimates the relationship between a Scalar (mathematics), scalar response (dependent variable) and one or more explanatory variables (regressor or independent variable). A model with exactly one explanatory variable is a ''simple linear regression''; a model with two or more explanatory variables is a multiple linear regression. This term is distinct from multivariate linear regression, which predicts multiple correlated dependent variables rather than a single dependent variable. In linear regression, the relationships are modeled using linear predictor functions whose unknown model parameters are estimation theory, estimated from the data. Most commonly, the conditional mean of the response given the values of the explanatory variables (or predictors) is assumed to be an affine function of those values; less commonly, the conditional median or some other quantile is used. Like all forms of regression analysis, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internet
The Internet (or internet) is the Global network, global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a internetworking, network of networks that consists of Private network, private, public, academic, business, and government networks of local to global scope, linked by a broad array of electronic, Wireless network, wireless, and optical networking technologies. The Internet carries a vast range of information resources and services, such as the interlinked hypertext documents and Web application, applications of the World Wide Web (WWW), email, electronic mail, internet telephony, streaming media and file sharing. The origins of the Internet date back to research that enabled the time-sharing of computer resources, the development of packet switching in the 1960s and the design of computer networks for data communication. The set of rules (communication protocols) to enable i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Direct Mail
Advertising mail, also known as direct mail (by its senders), junk mail (by its recipients), mailshot or admail (North America), letterbox drop or letterboxing (Australia), is the delivery of advertising material to recipients of postal mail. The delivery of advertising mail forms a large and growing service for many postal services, and direct-mail marketing forms a significant portion of the direct marketing industry. Some organizations attempt to help people opt out of receiving advertising mail, in many cases motivated by a concern over its negative environmental impact. Advertising mail includes advertising circulars, plastic mailers, coupon envelopes (Money Mailer, Valpak), catalogs, CDs, " pre-approved" credit card applications, and other commercial merchandising materials delivered to homes and businesses. It may be addressed to pre-selected individuals, or unaddressed and delivered on a neighbourhood-by-neighbourhood basis. Origin North Carolina state historians ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Radio Advertising
In the United States, commercial radio stations make most of their revenue by selling airtime to be used for running radio advertisements. These advertisements are the result of a business or a service providing a valuable consideration, usually money, in exchange for the station airing their commercial or mentioning them on air. The most common advertisements are "spot commercials", which normally last for no more than one minute, although extended versions, commonly running for up to 45, 60 or more minutes, are termed " informercials" because they delve deeper into detailed information on and stories about commercial product or service offerings. The United States Federal Communications Commission (FCC), established under the Communications Act of 1934, regulates commercial broadcasting, and the laws regarding remain relatively unchanged from the Radio Act of 1927. In 2015, radio accounted for 7.8% of total U.S. media expenditures. History Commercial advertising by audi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Television Advertising
A television advertisement (also called a commercial, spot, break, advert, or ad) is a span of television programming produced and paid for by an organization. It conveys a message promoting, and aiming to market, a product, service or idea. Advertisers and marketers may refer to television commercials as TVCs. Advertising revenue provides a significant portion of the funding for most privately owned television networks. During the 2010s, the number of commercials has grown steadily, though the length of each commercial has diminished. Advertisements of this type have promoted a wide variety of goods, services, and ideas ever since the early days of the history of television. The viewership of television programming, as measured by companies such as Nielsen Media Research in the United States, or BARB in the UK, is often used as a metric for television advertisement placement, and consequently, for the rates which broadcasters charge to advertisers to air within a given netw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
