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
Exploratory Data Analysis
Pre Post Analysis
Statistical Modelling:
Data
Exploratory Data Analysis
Feature Engineering
Marketing Campaigns Effectiveness
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
