It’s amazing just how many companies forecast future performance by extrapolating in Excel. If you want to avoid unrealistic targets or to really know how much to spend to hit it, you need a model.
Scenario planning is what we call it when we adjust marketing inputs to see what kind of outputs we’re likely to get...More
Hey, hope you have some time today to help?
Just pulling together the final presentation
We could do with a forecast - say $9k spend on FB and $6k on TV?
Per day For the next month
I’ve sent you the model, so you should have everything you need
This course is a work of fiction. Unless otherwise indicated, all the names, characters, businesses, data, places, events and incidents in this course are either the product of the author's imagination or used in a fictitious manner. Any resemblance to actual persons, living or dead, or actual events is purely coincidental.
Scenario planning is a powerful tool for predicting the future and making decisions about it. It involves adjusting marketing inputs to see what kind of outputs we’re likely to get, based on realistic assumptions about the world.
The process of scenario planning starts with understanding the elements of the model. These can include the time horizon, the industry, the competition, the market size, the customer base, the product offerings, and the pricing. Once these elements are established, a “best case” scenario and a “worst case” scenario can be created.
The next step is to analyze the data and make assumptions based on the data to build a believable scenario. This process involves running the model to see what the results are.
The goal of this skill is to help you understand the basics of scenario planning and to learn how to build a believable scenario. This will involve learning how to use the different elements of the model, the different types of scenarios, and the process for building a believable scenario. It will also involve understanding how to use the model to make informed decisions about the future.
Once you’ve mastered the basics of scenario planning, you can use it to your advantage in a variety of situations. For example, you can use it to make decisions about marketing budgets, product launches, pricing strategies, and more. You can also use it to analyze the impacts of different scenarios and compare them to each other to determine the best course of action.
Ultimately, scenario planning is a valuable skill for anyone looking to make informed decisions about the future. It allows you to make realistic assumptions about the world and calculate the likely outcomes of different scenarios. With proper practice and understanding, you can use scenario planning to make more informed decisions and better prepare for the future.
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