Everything that goes into the model to explain what moved your sales. Some of it you control: media spend, pricing, promotion. Some of it you do not: seasonality, competitive activity, macro conditions. The model tries to separate your contribution from everything else. The harder the variable is to measure, the more its coefficient depends on the modeler's assumptions. Know which inputs your MMM team is estimating versus observing.
Ad tech glossary
Marketing Mix Variables
Technical definition
The collection of controllable and uncontrollable factors included in marketing mix models to explain business performance, including marketing tactics, competitive activity, seasonality, and macroeconomic conditions.
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