A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest success story. During the course of this engagement, the marketing analytics experts at Quantzig helped the client to devise a robust marketing mix model to systematically gauge the effectiveness of individual marketing channels.
Marketing mix modeling is a statistical technique that performs several multivariate regressions on sales and business data to quantify the impact of marketing investments on the overall sales. #MMM
The pharma industry is on the cusp of a profound transformation. Owing to such transformations and constant shifts in the market landscape, pharma companies face several predicaments in optimizing their marketing initiatives. Along with challenges such transformations have presented new opportunities for pharma companies to improve their marketing mix strategies. Moreover, the complex business scenario and diverse marketing channels available today have adversely impacted resource allocation due to which businesses are reeling under the pressure to enhance marketing effectiveness.
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The Business Problem: The client is a leading non-generic drugs manufacturer based out of the United States. Post the launch of a new non-generic drug, the client faced several challenges in generating a useful market share from the new segment. As such, they wanted to establish a marketing mix strategy to optimize their marketing investments and maximize profits from specific regions.
Our marketing analytics experts can help you build a robust marketing mix model to address your business requirements.
“Marketing mix modeling is a statistical technique that performs several multivariate regressions on sales and business data to quantify the impact of marketing investments on the overall sales,” says a marketing analytics expert from Quantzig.
The Solution Offered: To help the client tackle their challenges our experts proposed a solution that revolved around implementing a holistic approach to marketing mix modeling. Such an approach helped the client to embed the required analytic capabilities into their marketing processes to drive better business outcomes. Our marketing analytics experts also helped the client to build a robust marketing mix model to gauge the effectiveness of individual marketing channels.
This success story is a classic example of how a client succeeded by embedding advanced analytics into their business processes to drive better marketing outcomes. Request a free proposal to know more about the benefits of marketing analytics.
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Quantzig’s marketing mix modeling solutions helped the client to:
- Increase market share for the newly launched drug
- Reduce total marketing spend by 15%
- Request a free demo to know how our marketing mix modeling solutions can help you maximize your marketing efficiency.
Quantzig’s marketing mix modeling solutions offered predictive insights on:
- Improving the return on marketing spend
- Identifying new channels for revenue growth
- Request for more information to understand how our marketing mix modeling solutions can help you outcompete your competitors.
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