Econometrics: Consumer mix modelling
Simeon Duckworth, Jeremy Pounder and Paul WardMindshare and Kantar Worldpanel
Modelling techniques are advancing and while Consumer Mix Modelling has similarities to Marketing Mix Modelling, it overcomes many of MMM's limitations and can measure marketing RoI at more sophisticated levels.
Marketing Mix Modelling (MMM) has been the gold standard method of measuring advertising RoI for over 30 years. Using aggregated sales data, it can quantify and predict marketing RoI, isolating one driver from another. It is reasonably easy to implement, largely working with existing streams of aggregate data and it can yield significant improvements in...