Marketing - What are Marketing Models

The video discusses the challenges marketers face in making impactful decisions and introduces marketing models as a tool to predict outcomes of changes in variables like price or product features. These models help estimate the impact on sales, market share, and revenue, providing valuable insights for strategic planning.

What are marketing models and how do they assist marketers in decision-making?

How do marketing models help in estimating the outcomes of marketing strategies?

Explain how a marketing model can predict the impact of changing a product's price.

Discuss the importance of market share in the context of marketing models.

What are some key questions marketers ask when using marketing models?