LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its marketing mix modeling engagement for a leading non-generic drug manufacturer based out of the US. This success story explains how Quantzig’s marketing mix modeling solutions helped the client to embed the required analytic capabilities into their marketing processes to drive better business outcomes.
Pharma companies are constantly challenged to efficiently allocate their fixed marketing budgets among different marketing channels. Request a free brochure of our analytics solutions to gain comprehensive insights into our marketing mix modeling capabilities.
Marketing mix modeling is a statistical technique that performs several multivariate regressions on sales and business data to quantify the impact of marketing investments on the overall sales. A robust marketing mix modeling strategy helps businesses to determine the impact of each marketing initiative in terms of MROI. Through our marketing mix modeling solutions, we help companies to integrate data across all marketing channels and consolidate it into a common marketing view that provides invaluable assistance in driving marketing efforts forward.
Talk to our analytics experts to learn more about the use cases of marketing mix modeling in the pharma industry.
The Business Challenge
Having launched a new drug in the non-generic drugs segment the client faced several challenges in generating a useful market share for the new product. To effectively address this issue, they were looking at adopting a holistic, commercially focused approach to gain in-depth insights into their marketing initiatives. As such, they approached Quantzig to leverage its marketing analytics expertise in developing a robust marketing mix modeling strategy.
The client’s challenges spanned three core areas including:
- Inability to identify new revenue streams
- Lack of a robust marketing mix modeling strategy
“We offer customized marketing mix modeling solutions that leverage advanced data analysis techniques to deconstruct data and quantify the performance of each element in the marketing mix,” says a marketing analytics expert from Quantzig.
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The Solution Offered & Value Delivered
In collaboration with Quantzig, the client adopted a holistic approach to marketing mix modeling and embedded the required analytics capabilities into their marketing processes to drive better business outcomes. As a result of this study, the client was able to systematically gauge target markets and optimize marketing investments to maximize outcomes.
Quantzig’s marketing mix modeling solutions empowered the client to:
- Reduce marketing spend by 15%
- Increase market share for the newly launched drug
Quantzig's marketing mix modeling solutions offered predictive insights on:
- Determining the impact of marketing investments in terms of MROI
- Expanding the product portfolio to drive revenue
Optimize your marketing efforts and outcompete your competitors with our marketing mix modeling solutions. Learn more.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal