DM 211 Lecture Notes - Lecture 2: Market Segmentation, Brand Loyalty

• School: FIT
• Department: Direct and Interactive Marketing
• Course: DM 211
• Professor: Eley

Document Summary

Marketing-is the activity, set of institutions, and processes for creating, communicating and delivering messages. Business to business selling to each other, market yourself to your client/customer. Direct-smaller amount of customers, give an offer, wants people to purchase. Must offer a benefit/value/meet a need not found in the competition. Existing customer-get more business/build loyalty: mvc-most valued customer. New customer-how to find more mvc"s and get them to try the product. Increase spending over time: cost less to serve than new customers, generate wom advertising or referrals, less price sensitive. Tailoring special package/services to special customers (one-to-one) Database technology made it possible to track customer transaction and actions. What is mvc profile: look at database and see who target and demographic is. 1800 flowers (man, business man on the go) avis (rental cars) How to reach new customers and persuade them to try: pr, dm. Snail mail/email: face to face selling, advertising (most expensive way to get customer)