Marketing Mix Modeling (MMM) is a statistical analysis technique used by businesses to evaluate and optimize their marketing strategies.
It involves analyzing various elements of the marketing mix, such as product pricing, advertising spend, distribution channels, and promotions, to determine their impact on sales and overall business performance.
By quantifying the effectiveness of each element and their interplay, MMM helps businesses allocate their marketing budget more efficiently, identify opportunities for growth, and make data-driven decisions to maximize ROI.
It’s a valuable tool for assessing the impact of marketing efforts and optimizing strategies to achieve better results in a competitive marketplace.
