System and method for marketing mix optimization for brand equity management

A system of marketing optimization with respect to brand lifetime management comprising:

• a storage module storing transaction data, marketing data and product taxonomy data;
• a data preparation module which accesses the transaction data, marketing data and product taxonomy data in said storage module and generates training data;
• a reinforcement learning module which runs a batch reinforcement learning procedure the training data and generates a number of lifetime value models;
• and
• a scoring module receiving a selected value model from the reinforcement learning module and, using scoring data on selected product types, scoring the selected product types using the selected model, wherein brand equity maximization is performed utilizing Markov Decision Process (MDP) thereby casting brand equity management as a long term reward optimization problem in MDP and optimizing marketing mix by formulating the mix as actions in MDP while utilizing historical marketing and transaction data to estimate aspects of the MDP.