Marketing Mix Modeling
Marketing mix modeling is looking for to discover the relationship between marketing cost and sale in different levels. Every marketing strategy has its expenses.These costs are according to the amount of sales, brand equity and customer loyalty that identifies the effectiveness of the marketing strategy. On the other hand, marketing strategies are part of the overall strategy and goals of the organization that can be analyzed with the financial approach.
Marketing department managers are well versed in the cost of implementing marketing processes aimed at meeting the customers' predictable and unpredictable needs. But the secret of the success of some of these executives lies in their sense of cost. From the point of view of these managers, the current marketing costs are investment in the future of their business.
The nature of data on marketing costs in the health industry, and in particular the drug, is such that their accurate calculation at some levels is not feasible or difficult to achieve so integrating the information of different levels has been a challenge for organizations due to the information distribution patterns in this industry.
But how can organizations ensure that the costs incurred have yielded the desired returns and are close to achieving the goals of their marketing and sales strategies?
Having one of the richest databases of doctors and pharmacies in the country, as well as the technical and operational capability of integrating sales information at different levels (sales points, geographical areas, etc.), Charsoq can manage and model marketing costs and measure the effectiveness of your marketing strategies. This index is calculated according to the key performance indicators. Each marketing strategy has its own cost and therefore has a definite performance. Based on financial indicators and marketing efficiency, Charsoq can determine the strengths and weaknesses of marketing strategies of organizations according to the nature of their activities. Managers' awareness of strengths and weaknesses of their marketing strategies, will lead to strengthen their strengths, and improve their weaknesses.
Assuming you are satisfied with the amount of sales of your organization's products and services, do you:
- Have you calculated the ROI for this sale?
- How much did you spend on this sale?
- Is this cost justifiable to your organization?
- How much does it cost to attract new customers?
- What is the optimal cost per product per channel per sales point?
- What is the cost of losing customers for your organization according to the marketing strategy?
The marketing process seeks to attract new customers, maintain existing customers and increase sales and brand equity, but this process is part of the entire organization's processes. Therefore, in order to measure the effectiveness of marketing processes, it is necessary to examine these processes in the overall framework of financial indicators of the organization. In addition. financial ratios and the valuation of products and customers and their analysis with regard to marketing strategies can also provide indicators to improve the overall performance of your organization.
- Marketing Cost modeling
- Marketing Cost and Sales data relation analysis
- Return on Marketing Investment (ROMI)
- Cons and Prone Analysis of Current Marketing Strategy and its Correction Recommendation
- Customer Valuation, Customer Acquisition Cost (CAC), Customer Churn Rate, Customer Lifetime Value (CLV) and Churn Cost
- Brand Management (Brand Valuation, Discovering Brand KPI’s and Provide appropriate valuation Method)
- Financial Marketing Analysis (Financial Ratio Analysis, Horizontal and Vertical common-size analysis, ROI Marketing department Analysis)