Capturing Dynamic Base (Brand Equity) through UCM
How we used UCM technique to capture dynamic Brand Equity.
Problem:
- One of the common problems in the Marketing Mix Modeling domain is that the Base remains constant over the years.
- However, this does not reflect the reality
- There is a need to accurately capture the Brand Equity change over the years.
- The client in this case, was having similar problem and wanted to identify Brand equity change over the years
Solution:
We applied advanced UCM (Unobserved Component Modeling) technique to identify trends in the brand equity
Impact
UCM helped identify the decrease in brand equity due to reduced TV spends.
Helped the brand to recover brand equity from 68% to 70% by increasing TV spends.
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