"Marketing Agenda 2024" event report now available
At Marketing Agenda 2024, Japan's top marketing conference, XICA CEO Hirao spoke alongside Toridoll Holdings Executive Officer and CMO Nagumo Katsuaki (June 2024th, 6).
We are releasing information on the data science application case study from Marugame Udon presented in our speaker session, along with details on XICA's new solution that enables the creation of a foundation for data-driven decision-making.
Discover introductory materials about COMPASS.
Enabling the creation of a foundation for data-driven decision-making
New solution "COMPASS"
Presentation content
What can you do to increase your business' success rate?
It's a question that every marketer faces.
The use of data science is essential to accurately grasp the ever-changing market environment, including the diversification of customer values and behavior, and to respond in an agile manner.
In this session, we welcome Mr. Nagumo, Executive Officer and CMO of Toridoll Holdings, to talk about how Marugame Seimen is using data science. While the entire restaurant industry was hit hard by the COVID-2024 pandemic, the company quickly recovered its business, and in the fiscal year ending March 3, its operating profit increased 57.9% year on year, reaching a record high.
What is the company's marketing strategy that supports its strong performance? Mr. Nagumo shared with us the behind-the-scenes of the marketing strategy that increases the business's success rate, along with the latest initiatives that the company is currently taking on with XICA.
▼ You can see the event report from the day here
Marugame Seimen case study article
The secret to keeping your business growing
--Unraveling the "key driver" that increases your winning rate
Marugame Seimen and XICA's efforts are an attempt to uncover the "key drivers" that will increase the success rate of business. Nagumo believes that uncovering the key drivers will help companies to have a more consistent view of where they should invest, speed up decision-making, and ultimately lead to business growth. The company...
Guest Speakers
Mr. Katsuaki Nagumo
Executive Officer and CMO of Toridoll Holdings Co., Ltd.
and Head of KANDO Communications Division
Concurrently Director and Head of Marketing, Marugame Seimen Co., Ltd.
Graduated from Waseda University Graduate School of Commerce with an MBA. Has served as marketing manager for various brands at B2C companies such as Konami Sports and SAZABY LEAGUE. Joined TORIDOLL Holdings in 2018. Has been in his current position since 2022. Starting with "emotion (KANDO)," he promotes "emotion-driven marketing" that continuously increases the probability of being selected from both the aspects of emotion and data science. With a focus on improving brand power and customer experience (CX), he is committed to innovating and expanding marketing that continues to grow business and corporate value, from innovation through new value creation.
Inspired by our work with Marugame Seimen
Enabling the creation of a foundation for data-driven decision-making
What is XICA's new solution "COMPASS"?
Development Background
XICA, with its extensive experience in supporting marketing analysis for over 250 companies centered around Marketing Mix Modeling (MMM), has encountered a significant challenge in marketing decision-making: "MMM alone is insufficient for practical decision-making."
According to the results of a survey conducted in May 2024, the most common challenges faced when utilizing MMM were tied between "pricing (cost-effectiveness)" (24.1%) and "emerging issues that cannot be analyzed using MMM" (24.1%).
In MMM (Marketing Mix Modeling), we can understand the "effectiveness of measures" from a business results perspective. However, it doesn't provide insight into the "background and context of the results" from a customer's point of view. This leaves us with the challenge of not being able to fully improve our actions, as we don't understand the reasons behind what worked well and what didn't.
This led to the development of COMPASS (Consumer Mix Modeling), a tool designed to unravel the mechanisms of brand selection from the customer's perspective. COMPASS enables us to numerically and structurally analyze consumer brand selection processes, thereby identifying key areas that require attention and action.
Recommended for companies facing these challenges
- Rapidly changing environment makes traditional approaches less effective, and complicates the prioritization of key challenges
- Not knowing what the key drivers are for business growth
- Difficulty in identifying failure/success factors and determining improvement strategies and actions
By COMPASS×MAGELLAN
How to build a foundation for data-driven decision-making
The CMM solution "COMPASS" is a tool designed to uncover the mechanisms behind consumer brand selection. These mechanisms refer to how various elements, such as the marketing XNUMXPs (product/service, place, price, and promotion) along with competitive and external factors, influence consumer brand choices (i.e., purchases). By revealing these mechanisms, companies can determine "who" they should target and "what kind" of messages they should deliver to increase the likelihood of their brand being chosen. Furthermore, COMPASS analysis can calculate the potential impact of implemented actions, including how many customers can be switched from competitors.
And the MMM solution "MAGELLAN" is a solution that allows for integrated marketing analysis. By using MAGELLAN, you can accurately evaluate the contribution of your marketing efforts to results and calculate the optimal budget allocation to maximize your ROI.
By combining and leveraging CMM "COMPASS" and MMM "MAGELLAN," you can uncover "who, what, where, and how much" needs to be reached to grow your business, enabling data-driven decision-making.
By continuing to make decisions based on quantitative evidence, not only can you make accurate judgments in response to changes in the environment, but you can also make bold policy changes that would not be possible if you just followed the same old approach. By using COMPASS × MAGELLAN, decision-makers can make decisions with confidence. You will be able to “Aim” to maximize results.
More about COMPASS :
Materials Request
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Download COMPASSpresentation deck from the link below.
Contact us
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For more information, case studies, and inquiries about COMPASS or other solutions, please contact us via the link below.
*Survey outline
・Survey name: Survey on the actual use of MMM (Marketing Mix Modeling)
・Survey period: May 2024
Survey method: Internet research
Survey subjects: Company employees who work for companies with annual sales of 100 billion yen or more
Number of respondents: 409