Economist Grace Kite explains what econometric modelling is and how it can be used to “untangle” different sales drivers.
Econometrics isn’t just for evaluating advertising, according to Marketing Week columnist and founder of consultancy Magic Numbers, Grace Kite. It can be used to untangle all the main drivers of sales, regardless of whether they are trackable.
Bringing econometrics fully in-house can work for some brands, but finding a balance between external expertise and internal knowledge works best at insurer Aviva.
The investment may be large and specialist talent hard to find, but Paddy Power marketing boss Michelle Spillane believes working with in-house econometricians is a recipe for success.
Economist Grace Kite urges marketers to get under the bonnet of their econometric modelling to ensure the work is robust and doesn’t go to waste.
Motor retailer Halfords has introduced dynamic pricing in its services business to drive profitability by directing demand to its under-utilised autocentres.
The Competition and Markets Authority will probe the extent price promotions are only available to people who sign up for loyalty cards.
The broadcaster’s CMO Penny Brough exclusively tells Marketing Week the inside story about why it felt the need to make the change to U, the research that underpinned it and what it hopes it will achieve.
Marketing Week is proud to name HSBC’s Ucheora Obi-Wheeler as one of our inaugural Future Marketing Leaders, sponsored by Digitas.