What are the major shortcomings of marketing-mix modeling?
What will be an ideal response?
The major shortcomings of marketing-mix modeling are- (1 ) Although marketing-mix modeling helps to isolate effects, it is less effective at assessing how different marketing elements work in combination. (2 ) Marketing-mix modeling focuses on incremental growth instead of baseline sales or long term effects. (3 ) The integration of important metrics such as customer satisfaction, awareness, and brand equity into marketing-mix modeling is limited. (4 ) Marketing-mix modeling generally fails to incorporate metrics related to competitors, the trade, or the sales force.
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