August 2014
Beginner to intermediate
1009 pages
23h 39m
English
book
The Definitive Guide to Marketing Analytics and Metrics (Collection)
by Cesar Brea, Rajkumar Venkatesan, Paul Farris, Ronald T. Wilcox, Neil Bendle, Phillip E. Pfeifer, David Reibstein
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Section III: Marketing-Mix Analytics
This section presents multiple regression analysis. A fundamental premise of marketing-mix analytics is that the mix elements affect customer behavior simultaneously. Therefore, models that estimate elasticity should reflect this notion. It is therefore necessary to estimate the joint effect of the marketing mix on customer behavior. Chapter 7, “Multiple Regression in Marketing-Mix Models,” and Chapter 8, “Design of Price and Advertising Elasticity Models,” provide the definition of elasticity, present the log-log linear model framework for estimating elasticity, and list the control variables that are necessary to include in marketing-mix models to avoid biased elasticity estimates.
You can apply the process ...
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