While looking at my reading this week for class and thinking about the acronym for the topic I got a sudden craving for chocolate in a candy shell. Hmm, I wonder why. Anyway I decided to try something a little different to start out preparing for my class blog this week. After reading the assigned articles and viewing/listening to the PowerPoint presentations, I took to the web to see what was available on the topic Marketing Mix Model. I found some interesting results. Beside the all-powerful Wikipedia (please note the sarcasm here) entry, the majority of the entries were from firms that offer Marketing Mix Modeling as a service to their clients. The one that I got the biggest smile from is the fact there is a Facebook page for Marketing Mix Modeling that people can “Like”. There are only nine likes so far, so draw your own conclusions from that.
Like many things I have learned so far in my other three classes, common sense plays a big role in all fields of communications/PR. Marketing Mix Modeling basically is used to help determine what parts of the marketing campaign are worth the money that was spent on them. I don't understand why any company would not use some for of this. However, one article I read talked about a recommendation that a marketing budget be at least $10M or ever closer to $50M for the modeling to really be worth attempting. Wow, even on the low end of that I can only dream of having a budget of that size to do nothing but market and promote my company's product or service.
Well it is about an hour until I have to have my class blog posted, so I guess I have procrastinated enough and should get back to it. I think my 500 words for the blog and not quite enough this week. We'll see in the end.
No comments:
Post a Comment