Using Simulation to Support Design of Marketing Campaigns
Marketing campaigns are inherently uncertain. How should a new product be launched? Will campaign A or B be most effective? GoldSim’s Monte Carlo simulation framework provides you with the ability to explicitly quantify uncertainties in order to elevate the marketing process from intuition to a rational and defensible quantitative methodology.
By combining the flexibility of a general-purpose and highly-graphical probabilistic simulation framework with specialized features to support financial modeling and optimization, GoldSim simulation software allows you to create quantitative and transparent marketing models to support your marketing plans and make better decisions. Potential modeling applications include:
- Comparing several proposed marketing campaigns for greatest return-on-investment.
- Forecasting demand of a new product.
- Determining the optimum price point.
- Simulating competitor movements and best ways to react.
- Designing better product launch campaigns.
Some of GoldSim’s key features that make this kind of modeling possible include the ability to:
- Incorporate variability and uncertainty. By its very nature, marketing programs must be deal with a great amount of uncertainty. GoldSim makes it easy to incorporate variability and uncertainty into your simulations.
- Represent random discrete events. Marketing programs should incorporate contingency plans to account for sudden events or developments that can adversely affect the program. GoldSim has the capability to represent random events, such as a competitor's actions, a lawsuit, or a new disruptive technology.
- Create easy-to-understand presentations that effectively communicate the structure of your model and the results. The best-designed programs and won’t be implemented if your audience doesn’t understand your analysis. GoldSim’s user-friendly graphical interface provides you with the tools to effectively communicate with your audience.
To learn more, you can:
- Take the GoldSim Quick Tour to quickly learn about GoldSim's features and capabilities;
- Learn more about GoldSim's Financial Module, an add-on extension to GoldSim to help you model the financial components of your systems;
- Compare GoldSim to the most commonly used marketing simulation tool, the spreadsheet;
- Request a free web demo, in which one of our technical staff shares his/her desktop while answering your questions and demonstrating the application of GoldSim to marketing simulation and other business applications; and/or
- Request a free Evaluation and try GoldSim for yourself.