Marketing Mix Modelling to better allocate advertising and promotional investments
To better allocate advertising and promotional investments between brands and between media, the company could use marketing mix modeling.
Context and challenge:
Our client in the transport and logistics sector plays a crucial role in ensuring that goods are delivered to the right place, at the right time, and in the right condition. However, tracking the transportation of goods can be challenging, especially when the goods are being transported over long distances or through multiple modes of transport.
One of the main challenges in tracking the transportation of goods is the lack of visibility and transparency. It is often difficult to know where the goods are at any given time, and it can be even harder to track the status of the goods during the transportation process. This lack of visibility can lead to delays, lost or damaged goods, and customer dissatisfaction.
To address this challenge, we had implemented a tracking system that allows them to track the transportation of goods in real-time. This system have been integrated into the company's existing logistics and transportation processes, and be accessed by all relevant stakeholders, such as the transportation team and the warehouse team.
The tracking system was based on GPS technology, which allows the company to track the location of the goods at all times and include sensors that monitor the temperature, humidity, and other environmental factors that can affect the condition of the goods.
The tracking system have been integrated with the company's internal communication and collaboration tools, such as email, messaging, and project management software. This allows the team to share updates and information about the transportation of goods in real-time, and to collaborate on any issues that may arise during the transportation process.
By implementing a tracking system, the transport and logistics company have significantly improve the visibility and transparency of the transportation of goods. This lead to several benefits, including:
1. Reduced delays: By tracking the location and status of the goods, the company can now identify and resolve any issues that may cause delays in the transportation process.
2. Improved customer satisfaction: With real-time updates on the status of their goods, customers can have confidence that their goods will be delivered on time and in good condition.
3. Enhanced efficiency: By having access to real-time data on the transportation of goods, the company can now optimize its logistics and transportation processes to reduce costs and improve efficiency.
4. Greater control: With a tracking system in place, the company have greater control over the transportation of goods, which can help to reduce the risk of lost or damaged goods.
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