IRI Adds Consumer Segment Module to Mix Drivers

Information Resources, Inc. has expanded its industry-leading Mix Drivers(tm) marketing mix modeling service to include a Consumer Segment Insights module, Mix Drivers/CSI(tm).

Mix Drivers uses retail sales data to evaluate the impact of marketing on total sales in a particular geographic area or retail channel. The Consumer Segment Insights module cross references this with data from IRI's Consumer Network(tm) household panel, to show the effect on specific consumer segments such as high income households with children or heavy category buyers who are loyal to a competitive brand.

'Virtually every brand manager has at least one consumer segment that is under-performing', said Neil Canter, Division President of IRI's Analytic Insights Group. 'Driving improvement in that one segment can mean the difference between flat sales and growth. Mix Drivers/CSI reveals which marketing activities are most effective in attracting incremental purchases from specific consumer segments, showing manufacturers what actions to take to generate growth from each segment to improve their return on marketing investment'.

The new module is intended to assist CPG manufacturers in optimizing their marketing mix across advertising, consumer promotion, and trade promotion vehicles to boost incremental sales in high-opportunity segments. 'What's unique about the Mix Drivers/CSI model is that it separates 'incremental' purchases generated by the marketing activity from 'baseline' purchases that consumers would have made even without the extra marketing incentive', says Canter. 'Bumps in purchasing behavior ... don't always mean incremental sales - sometimes they just reflect pantry loading - manufacturers require the statistical model found in Mix Drivers/CSI to tease out the incremental sales that determine marketing ROI'.

More information is available at www.infores.com

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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