Joan Fitzgerald - CEO, Data ImpacX
Stephanie Gall – Senior Product Manager, Measurement, Lucid
Caroline Horner - Chief Product Officer, 605
Michael J. McGuire - VP, Management Science Associates
Mark Mitchell - Xandr
Lisa Mulyk - Principal, SVP Strategy Solutions, IRI
Liz Ryan - Client Lead, Media Center of Excellence, IRI
Megan Margraff – VP, Data Strategy, Oracle MODERATOR
Key Takeaways
Stephanie Gall – Senior Product Manager, Measurement, Lucid
Karen Biedermann – Director, Media Insights, Samba TV
Key Takeaways
Michael J. McGuire – VP, Management Science Associates
Joan FitzGerald – CEO, Data ImpacX
Member Only AccessPete Doe – Chief Research Officer, Xandr
Caroline Horner – Chief Product Officer, 605
Key Takeaways
A new study shows that using neuroscience-based methods is likely to increase the accuracy of real-world product sales. This study, by academics in Canada, France and Germany, explored the ability of using different kinds of data to predict sales of new products before their launch. They compared in-house market data such as price and promotion level, customer attitudes based on a representative survey, and a neuroscience-based method: functional Magnetic Resonance Imaging (fMRI) data, which were obtained from a relatively small sample of individuals and collected in a laboratory. For the study, they used a large German retailer’s sales data to define an estimation data set to predict sales of 17 different new products, before they were launched.
"Marketing has become too damn complicated," said MMA CEO Greg Stuart.
Source: Neff, J. (2021, December 2). Why The Death Of The Cookie Is Threating Multi-Touch Attribution—Forcing It To Adapt. DataDrivenMarketing, AdAge.
Note: Only subscribers of AdAge can read the full article.
Member Only AccessIt’s no surprise that new product launches often fail to meet their targets. The trick for managers is to improve their predictions for such products. They must balance the costs and benefits of many different data sources and analytic techniques in order to improve forecasting. To enhance the accuracy of predicting the market-level sales of new products, researchers Marton Varga, Anita Tusche, Paulo Albuquerque, Nadine Gier, Bernd Weber, and Hilke Plassmann, analyzed the added value of different data types. Their conclusions are illuminating.
Member Only AccessMarketing expert Grace Kite thinks that reports on ad effectiveness often do not tell the whole story.
New Grace Kite research finds 40-50% of ad budget online brings highest returns. This obscures the important lessons that the totality of the industry can provide about the business, argues Dr Grace Kite, whose new dataset holds valuable, agenda-resetting insights. Why it matters: Most brands don't win awards for their advertising. Most advertising makes little difference, or things go wrong, or key people leave, but lessons from the norm of advertising are fundamental to understanding how the industry works and how to improve it. This new dataset tells a very different tale from analyses of award-winners only.Only subscribers of WARC can read the full article.
Source: Peña-Taylor, S. (2021, October). Event Reports, EffWorks Global, October 2021.
Member Only Access