Retailers, manufacturers and consumers are having to navigate changes brought about by impacts from the pandemic, rising inflation, supply chain delays and changes to consumer shopper behaviour. With the industry moving at ever faster speeds, brands need to make decisions faster and become more agile. To do that, they need greater insight and more granular levels of data. While fast moving consumer goods (FMCG) businesses have long looked at sales data, in order to make those agile business decisions it’s important to get a more detailed picture of the market.
That is why it’s time for brands to move on from their traditional media and promotions strategies and look towards marketing mix modelling (MMM) to assess the three key areas of their marketing strategy:
pricing, promotions and media. This report will unpack what MMM is, how it can support businesses and the benefits of implementing this strategy for the FMCG sector, including small and medium enterprises (SMEs). Read on to discover what MMM can do for you and your business.
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