Brooke Bond and Vaseline: The Darwinian theory of maximising portfolio sales with media

Brooke Bond, a tea brand, and Vaseline, a brand of petroleum jelly-based products, created sales growth in India by creating a proprietary tool that revealed opportunities for optimisation.

The objective

The challenges with traditional econometric modelling:

If detailed time-series data exist, econometric analysis can be undertaken to build a model of sales volumes and this, in turn, can be used to estimate media spend effectiveness, media responses, and the optimum budget and allocation.

However, brand portfolio managers often feel challenged in their endeavour to optimise their portfolio owing to the following ground realities in modelling:

  1. "Inadequate data points" to build statistically robust models
  2. MMMs based on time series data often "compromise on recency factor"
  3. "Degrees of freedom" problem when there are many independent variables
  4. An MMM model building...

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