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Another factor that you can include in your model is to see the impact of the revenue spends in creating a positive brand attraction among the customers, which would ultimately lead to better conversion rates. Let’s learn more about this in the video below.

Let's imagine a situation. Suppose you are the chief marketing analyst of your company. You have built a marketing mix model and you've presented your findings to the CEO/CMO of the company. But he/she asks you, 'Well, this is a great model and beautiful charts! But tell me, how can we use this to improve our sales by 3X during this Diwali festival?'

So, ultimately, your model should be supplemented with certain recommendations.

Let's consider a second question: is a marketing mix model an attribution model?

This brings you to the end of this session and the module on market mix modelling. Now, Ujjyaini will summarise the key learnings for you and the points that you should keep in mind before starting with the capstone project.