The MMM Zeitgeist with Elea Feit & Karen Chisholm

A professor, an analytics director, and a podcaster walk into a bar and order a whiskey. Which brand do they order? And how does that data make it's way into a marketing mix model?That's what Simon and Jim wanted to know, so they asked Elea Feit - Associate Dean of Research and Professor of Marketing at Drexel, and Karen Chisholm, Director of Transformation Analytics at Pernod Ricard.Find out the biggest challenge marketers are facing today regarding measurement, and how they're tackling it. Find out what's in store for marketing measurement and MMM in the next 3 years.Grab a drink and have a listen :)▶️ Watch on YouTubeLinks from the show:Marketing Science InstituteThe Advertising Research FoundationElea Feit on LinkedIneleafeit.comKaren Chisholm (email about job opportunities!)00:47 Today's Topic: Marketing Mix Modeling02:10 Introducing the Guests05:07 MSI and ARF Initiative07:52 Survey Insights and Challenges12:20 Measurement Techniques and Strategies16:34 Brand-Level Optimization and Earned Media22:44 Granularity in Marketing Mix Modeling28:54 Understanding Marketing Mix Modeling29:18 The Four Ps and Their Importance30:20 Media Mix Modeling vs. Marketing Mix Modeling32:29 Challenges in Media and Marketing Mix Modeling34:09 Always-On Discounts and Their Impact37:14 Data Quality and Availability Issues40:38 The Future of Marketing Mix Modeling43:08 Industry Perspectives and Best Practices50:28 Open Source Solutions and In-House Modeling54:58 Job Opportunities and Final Thoughts