The singular aim driving all marketing initiatives is to maximise the ROI on the production, sales and distribution of a certain product or service. Effective marketing can therefore be defined as having the right product at the right time at the right place and available at the right price. The concept of a marketing mix strategy, was first proposed in 1960 by marketing expert Edmund Jerome McCarthy. The marketing mix elements can be broken down into:
A complete guide to Marketing Mix Modeling
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