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Managing the marketing mix continues to be one of the key challenges facing brand owners today. To help you make the smartest possible marketing mix decisions and gain competitive advantage, Nielsen has developed sophisticated modelling and analytical approaches to quantify the impact of different marketing mix variables on both existing brands and planned product introductions.
In the pre-launch phase, Nielsen offers sophisticated Simulated Test Marketing (STM) techniques which are often used to determine consumer reaction to marketing and/or initiatives prior to their market entry. STM models are used to combine those consumer reactions with marketing plan information to forecast the likely sales volume. More advanced STM systems can also identify the key drivers of volume so that the product can be finetuned prior to market entry.
In the post-launch phase or for existing brands, Nielsen has a range of advertising evaluation and tracking tools to help you understand if your advertising is hitting the mark. These advertising tracking techniques are particularly impactful when combined with actual sales data.
In addition to advertising effectiveness, Nielsen retail sales models (primarily scan data-based) can isolate and quantify, with great precision, the individual elements that impact the volume and profitability of brands. This learning then allows you to assess the likely implications of alternative future configurations of marketing activity.
Elements that are commonly evaluated as part of the retail sales element of Nielsen's marketing mix approach include:
- distribution
- absolute regular price level
- regular price position relative to key specified competitors
- temporary price reductions
- key price points
- in-store advertising
- above-the-line advertising
- competitive activity
By drawing on our expertise in both retail tracking and consumer research, Nielsen can help you understand how key elements of your marketing mix impact your brand.
Marketing Mix Management Solutions: |
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