Marketing Analytics – the MarketSim™ Overview
ProRelevant’s MarketSim delivers fast, strategic and tactical decision support to improve marketing effectiveness, improve marketing ROI and drive increased revenue, profit, brand and share.
It’s no longer enough to simply measure short-term marketing ROI of recent past marketing actions. Brands need to reach out – into the future to deliver results at least cost and risk. MarketSim accurately simulates real-life behavior at the level of the consumer, in a robust competitive market model. A MarketSim model enables organizations to make stronger, more incisive decisions that increase odds of success, lower risk and improve Return on Marketing Investment (ROMI).
MarketSim can be applied to support many critical decisions:
- Optimizing the most risky, yet most valuable corporate activity – the launch of a new brand or product.
- Optimizing the response to major shifts in the market.
- Balancing short term marketing actions with long-term brand building.
Using MarketSim in conjunction with the best marketers around the world, CPG / FMCG companies can now develop and deliver significant improvement in their clients brand’s position in the markets.
With the introduction of MarketSim, ProRelevant revolutionized the marketing analytics industry by making detailed and complex analyses easily accessible to marketing executives, brand/product managers and market researchers from the convenience of their desktops. Developed in partnership with one of the largest brand marketers on the planet, ProRelevant works with authorized partners to bring that capability to your brand in virtually any category or industry.
Using agent-based modeling (ABM) technology, MarketSim incorporates relevant market, customer and competitive data into an interactive, living model that captures the unique market DNA of your brands. It provides the closest possible view into the reality of a marketplace and all the dynamics that affect volume for both you and your competition.
Marketing decision makers can quickly run highly accurate “What-if?” scenarios, see the outcomes and respond accordingly — should market conditions change (and they will,) unexpected events occur or there is a desire to explore the impact of your or your competitor’s new innovation. MarketSim models quickly evolve in how they are used – from strategic decision support to tactical optimization. Once the model has been developed it can be used to easily determine optimal actions to drive the immediate next few weeks and t he long-term future of the brand.
Every company wants to achieve increased mindshare, market share, revenue and leadership perception, but most importantly profit – and know that there is a measurable ROI. ProRelevant MarketSim and our ProTools Strategic Partners can make that a reality, in real-time with relevance and for the future.