By Susan Chiu
The authors current a realistic and hugely informative viewpoint at the parts which are an important to the good fortune of a campaign. not like books which are both too theoretical to be of sensible use to practitioners, or too tender to function good and measurable implementation directions, this ebook makes a speciality of the combination of proven quantitative innovations into genuine existence case experiences which are instantly suitable to advertising practitioners. * offers a twin therapy of industry examine and information mining * makes use of a how-to process for pros with illustrative case stories as well as thought * contains functional the right way to create government studies, dashboards, and a industry intelligence infrastructure
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Extra resources for Data Mining and Market Intelligence for Optimal Marketing Returns
23) Using the sum of a geometric series, this expression can be simplified as the following when n is large. 26) Assume a company spent $8000 on a suboptimal marketing effort, sold 1000 units of products, and realized a profit of $42,000. We will apply a semilogarithmic model to the historical data of the firm to determine the optimal marketing spending that would have maximized the profit of the marketing effort, and then compare the optimal marketing spending with the amount that the firm actually spent.
M. Distributed Lags and Investment Analysis. Amsterdam, North-Holland, 1954. R. Wittink, M. A. Naert. Building Models for Marketing Decisions. Kluwer, Massachusetts, 2000. P. Generalizing what is known about temporal aggregation and advertising carryover. Marketing Science, Hanover, Maryland, 14(3), 1995. G. Investment Science. Oxford University Press, New York, 1996. 37 This page intentionally left blank CHAPTER 3 Metrics Overview This page intentionally left blank In this chapter, we discuss the key metrics used for measuring and optimizing return on marketing investment.
7. What are the key metrics in each stage of the sales cycle? 8. What is the difference between return metrics and operational metrics? How do we use both types of metrics to drive future campaign optimization? 9. What are the tips on addressing common ROI tracking challenges? ■ Common metrics for measuring returns and investments In order to properly measure marketing returns on investment, we need to identify appropriate return metrics and investment metrics. We start out with a discussion on return metrics.
Data Mining and Market Intelligence for Optimal Marketing Returns by Susan Chiu