MMX 7x3 allows all manufacturers to optimize marketing investments regardless of budget
Bracknell, IRI; 24 July 2017 – IRI, the provider of big data and predictive analytics for FMCG manufacturers and retailers, has announced the launch of its new IRI Marketing Mix (MMX) 7x3 solution, which delivers its analytics capabilities to brands for just €7,000. Based on IRI’s market leading IRI LIQUID MODELING™ platform, IRI MMX 7x3 will enable manufacturers to measure the return on investment of their overall marketing activities, as well as providing actionable insights on the effectiveness of specific pricing models, promotional strategies and media activity and channels.
Smaller brands or those who want a quick brand or category view to analyze the success of their marketing investment, can now access IRI’s analytics capabilities for marketing mix models for the first time, benefiting from the high quality of IRI solutions and getting results faster than anywhere else in the market. For €7k, IRI delivers a marketing mix analysis based on a predefined scope, such as number of brands measured, promotional activities, media campaigns, etc., in less than three weeks. With access to fast, accurate data delivered straight to their in-box, marketers and brand managers can stay ahead of competitors and put in place actions to help drive growth and profit.
Stephanie Augier, Product Manager of Analytics for Manufacturers, IRI, explains: “We now live in a brave new world of omni-channel retail, new technologies and changing business models – and where data is king. But many marketing and brand managers are struggling to keep up with the sheer volume of data and to make clear decisions about their products based on what the data is telling them, especially if budgets are an issue.
“We have effectively democratized analytics with our new MMX solution, allowing smaller brands to tap into our best-in-class capabilities and market knowledge and gain access to the same analysis as much larger brands, enabling to them react quickly to optimize their marketing spend.”
IRI’s MMX 7x3 will enable manufacturers to look at four core areas within their marketing mix models and to answer the following key questions:
- Sales drivers
- How effective are marketing activities overall?
- Which marketing factors have impacted sales in the last year?
- Price elasticity
- How reactive are shoppers to price changes to the brand?
- Promotional campaigns
- How reactive are shoppers to promotional activities?
- Which promotion type brings most incremental volume to the brand?
- What is the ideal discount depth for a brand?
- Media ROI
- How effective is the current media strategy?
- What is the impact of the different media campaigns?
- Which campaigns and which channels are most efficient to use?
IRI MMX 7x3 benefits from the IRI LIQUID MODELING™ platform, the only globally scaled, high speed, open integrated analytics delivery platform.
For more information
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help FMCG, OTC health care, retailers and media companies to grow. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand cloud-based technology platform, IRI guides over 5,000 clients globally in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver growth. www.IRIworldwide.com. Follow IRI on Twitter.