IRI has launched a solution called Marketing Mix (MMX) 7x3, offering analytics capabilities based on its LIQUID MODELING platform to 'smaller' brands or those looking for a quick summary, at the lower price point of £7,000. Results are delivered to a client's inbox within three weeks.
IRI MMX 7x3 will enable manufacturers to measure overall marketing ROI and receive actionable insights on the effectiveness of specific pricing models, promotional strategies, media activity and channels.
The firm says the launch opens up the power of its analytics for marketing mix models to such users for the first time - including high quality solutions with results 'faster than anywhere else in the market'. Four core areas are analysed - sales drivers, price elasticity, promotional campaigns and media ROI.
Stephanie Augier, Product Manager of Analytics for Manufacturers, explains: 'We now live in a brave new world of omni-channel retail, new technologies and changing business models - and where data is king. But many marketing and brand managers are struggling to keep up with the sheer volume of data... We have effectively democratized analytics with our new MMX solution, allowing smaller brands to tap into our best-in-class capabilities and market knowledge and gain access to the same analysis as much larger brands, enabling to them react quickly to optimize their marketing spend'.
More information is at www.iriworldwide.com/en-GB/solutions/IRI-Marketing-mix-7x3 .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.