What are Mental Models? Becoming a better thinker requires you to understand the way you think, how you view the world, and developing a way of approaching problems that allows you to see things through multiple lenses. We refer to these lenses as ‘mental models’. Mental models are tools for the mind that are built […]
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Combatting COVID-19 in Emerging Markets
When the COVID-19 crisis became evident in South Africa in mid-March, the South African government put strict lockdown measures in place, including school closures and store lockdowns which were accompanied by reducing the output of production facilities. The government implemented a number of policies including social distancing, curfews, mandatory facial masks, and stay at home orders. […]
MMM assists marketers in optimizing future spends and maximizing effectiveness (i.e. it establishes which mediums are working better than others). Then, budget allocation is done, by shifting money from low ROI mediums to high ROI mediums, thus maximizing sales while keeping the budget constant. Types of MMM MMM can be built using regression methods and […]