Marketing Mix Model – Red Bull
The promotion mix combines various methods and tools that marketing professionals use to present a firm’s offerings to target markets. A compelling promotion mix is a crucial component of a firm’s marketing strategy. The promotion mix helps organizations attract, persuade, and retain customers. An effective promotion mix should also help a firm optimize market share and profit margins (Kokemuller, n.d.).
The promotion mix generally includes techniques in three broad areas: advertising, public relations, and personal selling. While much of the promotion mix centers on long-term communication, promotions can generate immediate traffic or instant revenue. However, the overuse of promotions can inhibit profit margins. Therefore, marketing professionals must understand the marketing return on investment of various promotion strategies (Kokemuller, n.d.).
For this assignment, please refer to the Marketing Mix Modeling Assignment Presentation from Marketing Analytics.
Moderation – Red Bull
Strategic marketing professionals should optimize a firm’s marketing mix. Optimizing a firm’s marketing mix can be challenging. Moderation in marketing mix models allows marketers to model changes in a firm’s marketing mix variables to better project marketing outcomes. Marketing mix models help marketing professionals make allocation decisions.
For this assignment, please refer to the Moderation in Marketing Mix Models Using Red Bull Data Assignment Presentation from Marketing Analytics.
Instructions for each part are in separate (labeled Part 1 and Part 2) powerpoint documents. All excel documents are also labeled (part 1 and part 2).