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In marketing mix modeling, what kind of models do you prefer to use , stochastic or deterministic? Why?

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Question added by Deleted user
Date Posted: 2016/01/19
Nasir Hussain
by Nasir Hussain , Sales And Marketing Manager , Pakistan Pharmaceutical Products Pvt. Ltd.

Preference should be given to deterministic modelling as it has predefined results and possible output, unlike the stochastic model that has real time input only.

Nicky Caraos
by Nicky Caraos , Sales Associate , Saudi Manpower Solutions Co., (SMASCO)

Determine models do a better job of identifying necessary vs. sufficient conditions. In a logistic regression , for example. a variable that is truly sufficient and necessary would be dropped from the model since it perfectly predicts the outcome.

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