MktSIM LITE is a system that's designed to simulate/forecast the outcomes of different marketing mix strategy scenarios. In order to do this, the user must first of all gather information about the product of interest and its competition. Model parameters are fitted to this data. Once the model shows a satisfactory fit to historical data, it can be used as an effective simulation/forecasting tool.
Simulation/forecasting is useful because it allows you to estimate the consequences of manipulating elements like price, product, quality, distribution and advertising without incurring the real world risks. The system also includes an exploratory graphics module that can provide interesting perspectives on your data, both before and after model fitting.
