Affiliation:
1. Velammal College of Engineering and Technology, India
2. KLN College of Engineering and Technology, India
Abstract
In the realm of advertising, predicting future sales is a paramount concern for businesses seeking to optimize their marketing budgets. This chapter outlines a research study that employs a linear regression model to forecast sales trends for three traditional advertising channels: TV, newspaper, and radio. The study begins by gathering historical data on sales, advertisement spending, and other relevant variables for these advertising channels. Utilizing this data, a linear regression model is constructed to recognize the connections between advertising expenditures and sales performance. By examining the historical performance of these channels, the research seeks to uncover insights into how advertising budgets influence sales outcomes. The research aims to provide advertisers, marketers, and businesses with a predictive tool for optimizing their advertising strategies and budgets. Ultimately, this study equips advertisers and stakeholders with a quantitative framework to enhance their strategic planning.
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