Marketing Mix Modeling 101

A non-technical introduction to Marketing Mix Modeling (MMM) — Part 1

“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” — John Wanamaker

John Wanamaker was a successful businessman who was a pioneer in advertising and many other fields. He opened the first department store in Philadelphia. His department store chain was sold to multiple companies and eventually became a part of Macy’s today. Too bad at his time (1838 -1922), marketing measurements were probably guesswork…