JS eBusiness

by Joomlashack

 
 

Category Forecasts

It is essential for the marketer to estimate the growth of the category prior to drawing up any marketing strategy. Category forecasts answers key questions like

  • What is the forecast for the category next year?
  • What are the key drivers and barriers for category growth?
  • What is the impact of macro economy trends on the category growth?

 Forecasts models are built using data on macroeconomic factors, environment factors and category specific marketing factors

Macroeconomic variables like

  • Inflation
  • Unemployment rate
  • GDP growth
  • Consumer disposable income
and other such variables

Environment variables like

  • Mean rainy days
  • Temperature
  • holidays
and other such variables

Category marketing activity

  • Advertising
  • Distribution
  • Category average price 
and other such variables

Madison Business Analytics typically uses advanced algorithm called Multivariate state space .  This approach has twin advantages - high predictive power and explanatory power that helps in identifying the key trends in economy that impact the growth of the category.Category forecast is precursor to analysis like opportunity Identification and portfolio resource allocation 

 

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