Wipro Technologies has launched its Wipro Marketing Mix
Modeling (MMM) technology solution on Amazon Cloud.
MMM helps in determining the marketing ROI and impact on
sales by statistically analyzing activities like price change, advertising,
media delivery and promotions.
The Wipro Marketing Mix Modeling solution provides
actionable intelligence to brand managers and media planners of Consumer
Packaged Goods (CPG) companies.
The ‘any-time’, ‘any-where’ real time recommendations to
brands and products enable them to determine spend on right channels and
measure KPI’s and evaluate the brand’s performance on a continual basis.
Wipro MMM marketing dashboard is a customizable module
where metrics and KPIs of client’s choice are defined and reports are designed
as per clients business needs. The modeling in MMM is also a client driven
formulation where product and locations are defined as per client business
models.
Wipro analytics and domain expert presents comprehensive
insights based on MMM model results and provide client brand team with the
inputs on effective vehicles, efficient ROIs as well as opportunity areas where
further marketing investment should be made.
Wipro’s Cloud enabled Market Mix Model solution enables
Consumer Packaged Goods companies to assess effectiveness of multiple media
channels, helps optimize marketing spend, and help evaluate brand performance
based on strong data analysis. This tool will enable a real time management for
brand marketing managers for tracking marketing performance and the ROI of the
marketing spend, given the ease of access and usage. The tool has been already
implemented across half a dozen of global CPG brands and the benefits have
been realized,” said Somjit Amrit, vice president and global head,
CPG Vertical, Wipro Technologies.
Research firm Nielsen said the global ad spend in Q1 2011
has been $118 billion. Assuming that 1 percent of the ad spend goes into
analytics, modeling and tracking, the market potential of a solution like MMM
is close to $1 billion.
CavinKare, a consumer goods company, has partnered with
Wipro for its Marketing Mix Modeling for one of its personal care lines and
identified in-store displays and Music TV as potential growth drivers. Wipro’s
analytics recommended the reallocation of TV spends across regions which will
help grow volume by 5 percent.”
The marketing strategy for our personal care line was
revised with the help of Wipro MMM recommendations and we are now positioned to
grow 20 percent faster than overall market growth for the category. CavinKare
has also extended these studies in four other categories where the Wipro MMM
model will help grow these brands faster,” said S Visvanathan, general
manager, Marketing Services, CavinKare.
By Telecomlead.com Team
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