How Can Marketing Mix Strategy Help Retail Players to Improve Sales Margin? | Quantzig’s Latest Success Story Offers In-Depth Insights

By STS News Desk On Oct 14, 2019

How Can Marketing Mix Strategy Help Retail Players to Improve Sales Margin? | Quantzig’s Latest Success Story Offers In-Depth Insights

Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest marketing mix strategy engagement for a retail firm. This success story analyzes the factors that enabled the client to improve sales margin by 10%.In a highly competitive retail market space there are many factors that affect sales revenue. A marketing mix strategy helps to examine the major factors which are responsible for explaining the sales variation in a given period by categorizing them into- base factors, macroeconomic factors, and promotions.

The Business ChallengeThe client, a leading retail industry firm based out of the United States, wanted to plan and adjust their marketing budgets, as well as other tasks such as pricing and distribution strategies. Also, the client to measure the impact of their marketing investments on sales and optimize marketing spend. The client faced challenges that spanned three core areas including:

Inability to evaluate the impact of their marketing strategies
Lack of analytical capabilities to gain accurate insights into the ROI of their marketing efforts
Inability to measure the effectiveness of their overall marketing campaigns.

“Marketing mix modeling acts as a decision-making tool that retail industry players can leverage to figure out an optimal spend allocation strategy,” says an analytics expert from Quantzig.

The Solution Offered & Value Delivered

The retail industry firm collaborated with Quantzig to leverage its expertise in offering marketing mix modeling solutions to evaluate the impact of their marketing strategies and develop ROI simulators for scenario analysis and planning. Quantzig’s marketing mix strategy engagement empowered the retail industry client to:

Witness a 10% rise in sales margins
Perform ‘What-If’ analysis to apprise the possible results of marketing budget reallocation scenarios
Gain detailed insights into marketing budget allocation