Abstract:

Marketeers are challenged to choose the right methods to quantify the long-term impact of brand on sales. In this paper Nepa, together with IKEA Canada, explores how marketing mix modelling (MMM) analysis can be improved to incorporate long-term media effects. We present the findings of an MMM study for IKEA, supported by the results from a meta-analysis on other brands. The findings highlight that using brand noise reduction on brand tracking KPIs significantly improves the accuracy of the MMM model and enhances its value for marketing managers.