Market Response Modelling--Marketing

Marketing and business analytics; Market Response Modeling for a telecommunication provider.

Github page link: https://cherylisabella.github.io/Market-Response-Modelling--Marketing/

This project aims to use market reponse modelling to develop the right marketing mix for a hypothetical telecommunications provider. In this scenario, the telecommunications provider currently uses traditional advertising (mainly TV) and Facebook to market its subscriptions.

Here is the brief structure of this repository:

Data

This project will analyse how effective the current channels are in acquiring new customers. Therefore, the following data were collected:

• number of newly acquired customers across 118 weeks
• the investment in traditional advertising
• number of impressions of Facebook posts initiated by the telecommunications provider
• information about media and buzz events, holiday periods, promotions
• marketing buzz about the telecommunications provider on Twitter.

The variables and their descriptions are shown below:

Categorisation

The first approach is to categorise all variables in the form of a market response framework.

Linear Regression Analysis

The data has been cleaned prior to its upload into R. Therefore, we can proceed with a linear regression analysis on the data.

• All of the variables are numeric.
• Since all of the variables have different ranges, the min-max standardisation is used so that each variable's values are between 0 and 1.

Regression model performance

The performance of the linear regression model will be evaluated in 3 ways:

1. Model Assumptions
2. Model fit
3. Significance of coefficients (via T-tests)

Model Assumptions

The analysis of the model assumptions can be found on the associated Github page or .rmd file.

Dynamic effects

The analysis of the dynamic effects in this project can be found on the associated Github page or .rmd file.

Influence of traditional advertising on acquisition

The analysis of the inifluence of traditional advertising on acquisition can be found on the associated Github page or .rmd file.

Influence of FB impressions on acquisition

The analysis of the influence of Facebook impressions on acquisition can be found on the associated Github page or .rmd file.

Conclusion

The conclusion and recommendations for the telecommunications provider can be found on the associated Github page or .rmd file.