What is marketing mix modeling and what is it used for in retail marketing?
Marketing mix modeling is used to determine what works in marketing based on data.
How does marketing mix modeling help determine which marketing activities work?
Marketing mix modeling helps decide when to invest and how to allocate the budget across marketing channels.
How can marketing mix modeling be used to decide on the timing of investments and the allocation of budget across channels?
Marketing mix modeling works with business KPIs, for example sales.
Which business KPIs does marketing mix modeling work with?
Marketing mix modeling works with revenue, number of orders, margin, traffic, conversions, and often also market share.
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