Your company produces candy bars. You need a method for determining the amount of sales driven by each media channel in your advertising campaign. You want a method that considers all possible factors in those sales, such as marketing, branding consideration, the economy, competitor actions, and even the weather. Which analysis technique should you use?

Question

Business

Brie

25 December, 18:17

Your company produces candy bars. You need a method for determining the amount of sales driven by each media channel in your advertising campaign. You want a method that considers all possible factors in those sales, such as marketing, branding consideration, the economy, competitor actions, and even the weather. Which analysis technique should you use?

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Adams · Answer 1

media mixed model

Explanation:

Media mix modeling refers to the methodology of research that enables advertisers to assess the effects of their advertising and marketing strategies in order to identify whether different elements relate to their target, sometimes transformation.

The insights extracted through media mix models allow advertisers to refine their strategies based on a number of variables, varying from consumer behavior to social influencers, effectively generating an optimal strategy driving commitments and revenues.