Market Insights and
Reduction of Marketing Waste

Marketing strategists often have to make major budgetary decisions with poor information on the likely effects of those decisions.  John Wanamaker of US department store fame once said:

“I know half the money I spend on advertising is wasted;
but I can never tell which half.”

TFL have developed a radical new tool set to model the effects of all manufacturers’ promotional spending in an entire marketplace and optimise promotional budget spending in a competitive environment. The tools provide insights into market dynamics causes and effects, heuristics for different market places can be developed and better market budgeting decisions made. Other applications include scenario-planning; to develop contingency plans for changing market conditions and competitors’ actions.

Access to these tools is provided as a service by TFL since their use is a specialist operation and must be carried out in-house by TFL on the basis of representative data provided by a client organisation.  TFL then supplies clients with models and related software to enable them to gain insights into spending effectiveness and optimise their marketing spend.

Need to know more?

There is a white paper and case study on the Marketing Response Modelling Tool (MRMT) is available through our downloads section.

If you would like to explore the feasibility of using these tools to improve your insights into your marketplace, and make better use of your promotional budget, please contact us.