Machine Learning Suggesting Marketing Mix

Abstract

The marketing mix is a crucial component of a company's marketing strategy that connects the business to the market. Three major global drivers exist: environmental changes, socioeconomic and geopolitical shifts, and technological advancements. Due to these, the market and its stakeholders have undergone significant ongoing and intensifying modifications. Technological advances have increased its ability to collect, analyze, and use data. Additionally, they have imposed new boundary conditions. Indeed, novel consumer demands and legislative requirements have restricted how businesses utilize the analysis. Machine learning algorithms aim to minimize human effort and support increasing business demands. These procedures train the executives and suggest efficient methodologies to increase profit. The work uses a machine learning algorithm to provide a good marketing mix based on various factors. The suggestion makes a marketing mix by considering the major and minor factors. A case study of a supermarket is analyzed in work.