Marketing-mix modeling typically employs which statistical technique to estimate the effects that the various marcom elements have in driving sales volume?
A) cluster analysis
B) structural equation modeling
C) multivariate regression analysis
D) ANOVA
E) MANOVA

Question

Marketing-mix modeling typically employs which statistical technique to estimate the effects that the various marcom elements have in driving sales volume? 
A) cluster analysis 
B) structural equation modeling 
C) multivariate regression analysis 
D) ANOVA 
E) MANOVA

Quizplus · Accepted Answer

Multivariate regression analysis is commonly used in marketing-mix modeling to estimate the impact of various marketing communication elements on sales volume. This statistical technique enables the analyst to examine the relationship between several independent variables (e.g., advertising spend, promotions, pricing, etc.) and a dependent variable (i.e., sales volume) simultaneously, while controlling for other factors that might affect sales volume (e.g., seasonality, macroeconomic trends, etc.). The model can help businesses optimize their marketing budgets by identifying which marcom elements have the most significant impact on sales and which ones are less effective.

Marketing-Mix Modeling Typically Employs Which Statistical Technique to Estimate the Effects