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  • Marketing Mix Optimization

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To many business executives marketing mix models remain shrouded in mystery. There are many advertising agencies and market research companies - plus countless online media firms - who each promote their particular marketing mix model in an effort to support marketing decision makers. However, there is a remarkable lack of universally accepted and standardized methods that marketing practitioners can draw upon. In fact, performing a search for books on regarding "marketing mix models" yields only three relevant titles and, as it turns out, they are mostly geared towards an academic audience. In contrast to the sparse array of books, there is no shortage of academic papers on all aspects of marketing mix modeling. Without doubt, many of these peer-reviewed journal articles have progressed the field of marketing science, but the advanced and often abstract nature of the proposed methods keep them far removed from practical implementation.

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Given this lack of textbook references in this field, plus the mostly inaccessible nature of the academic literature, decision makers have to rely almost exclusively on the persuasion skills of research vendors in determining the practicality and validity of any proposed marketing mix model.