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Marketing Effectiveness Evaluation in Pharmaceuticals

Objective

  • Understanding the behaviour of doctors being targeted through marketing campaigns
  • Predicting the important factors which drive increased recommendations from doctors for your drug
  • Identifying the required frequency of marketing campaigns and how often the doctors should be targeted to get a positive outcome through marketing efforts

Overview of Approach

Pre-Post Analysis:

Data

Data

Exploratory Data Analysis

Exploratory Data Analysis

Pre Post Analysis

Pre Post Analysis

Statistical Modelling:

Data

Data

Exploratory Data Analysis

Exploratory Data Analysis

Feature Engineering

Feature Engineering

Marketing Campaigns Effectiveness

Marketing Campaigns Effectiveness

Market Mix Model

Market Mix Model

  • Time Series model
  • Decision trees
  • Neural networks

Important features considered for a marketing effectiveness model

Frequency of Campaigns

  • Number of marketing campaigns the doctor has attended

Months for Marketing Campaigns

  • Number of months in which marketing campaigns were attended by the doctor
  • Avg. difference in months for each campaign type and successive campaigns

Pre Marketing Prescriptions

  • Average number of prescriptions for doctors before any marketing campaigns

Speaker Role

  • Frequency of marketing campaigns where the doctor attended as a speaker

Ad-stock Factor

  • Adstock is the prolonged or lagged effect of marketing on doctors
  • Here we assign a decay factor for each marketing campaign and modify the respective frequencies accordingly

Frequency of Field Force Activity

  • Number of times the medical representatives have met the doctors