The Impact of Marketing Mix’s Efficacy on the Sales Quantity based on Multivariate Regression

Yisheng Chen, Xiankang Liu, Peikun Xu

2022

Abstract

In this paper, we aim at investigating the effect of marketing mix on the demand of a new low-carbohydrate food product, K-Pack. The key variables of marketing mix with respect to the total sales, 24 datasets in total, are price, advertising, location and cities. To figure out which variables strongly affects the total sales, the test will comprise two parts: Model selection and Model inference. Under the first part, the dataset will be resampled to reduce the bias while assuming the assumptions of linear regression are met. When constructing the model, a Hypothesis validation will be carried out to ensure the variables are statistically significant. Considering the Inference section, several statistics metrics and features (coefficient, R squared and AIC) will be presented in table formats for Data Analysis. Instead of focusing on all the marketing mix to determine the demand, the company should only consider Price, Advertising, City index, Store Volume and interaction between Price and Store Volume as efficacious. These results offer a guideline and new insight for sales predictions based on multivariate linear regression.

Paper Citation

in Harvard Style

Chen Y., Liu X. and Xu P. (2022). The Impact of Marketing Mix’s Efficacy on the Sales Quantity based on Multivariate Regression. In Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM, ISBN 978-989-758-593-7, pages 795-800. DOI: 10.5220/0011349500003440

in Bibtex Style

@conference{bdedm22,
author={Yisheng Chen and Xiankang Liu and Peikun Xu},
title={The Impact of Marketing Mix’s Efficacy on the Sales Quantity based on Multivariate Regression},
booktitle={Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM,},
year={2022},
pages={795-800},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011349500003440},
isbn={978-989-758-593-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM,
TI - The Impact of Marketing Mix’s Efficacy on the Sales Quantity based on Multivariate Regression
SN - 978-989-758-593-7
AU - Chen Y.
AU - Liu X.
AU - Xu P.
PY - 2022
SP - 795
EP - 800
DO - 10.5220/0011349500003440