Although marketing expenditures are often a very large part of an organization’s budget, they remain the least understood component of the overall budget. Long time ago, marketing was looked upon more as an art than science and marketing expenditure was justified as a necessary cost of doing business. However, companies have now become more cautious and operate more efficiently. While overall marketing expenditures have continued to rise, marketing is now looked upon as a planned investment rather than an indispensible cost of business and returns are expected from marketing expenditure just as for any investment. There is now a greater scrutiny on marketing expenditure and greater demand for accountability.
Companies often struggle to achieve a balance between marketing spend across different vehicles such as Media, Trade, Consumer Promotions and ROI generated by them. Marketing Mix analysis can help companies realize 10% top line growth through more efficient and effective marketing spending.
Demand Drivers is a cloud-based platform for the development of rapid marketing mix models and includes simulation & forecasting modules for business planning.