Promotional Mix Optimization for a Pharmaceutical major
One of the mid size pharma clients was planning to reallocate its marketing expenses across different marketing activities & optimize its investment based on its effectiveness
- Optimize marketing investment decisions and increase the returns and effectiveness of different marketing programs like Sales force detailing, Sampling, TV, Print, Online
- Analyze competitive environment (impact of new entrants & competitive advertising)
- Forecast product revenue based on simulated marketing allocation
- Analyzed the impact of marketing mix on overall sales / profit for brand, sub-brand & portfolio.
- Analyzed competitive environment – impact of new entrants & competitive advertising.
- Estimated the effect of promotional synergies.
- Optimized marketing mix
- What-if scenario planning/Forecasting
- Increase in revenue: Increase in incremental sales of ~ around 10-15% by reallocating marketing investment
- Designed optimal targeting strategy at customer / segment level based on Bottoms Up Optimization
- Cost Efficiency: Lower Cost by ~15% of overall marketing budget
- Improved Marketing Effectiveness