MKTG 2101 Chapter Notes - Chapter 5: Customer Relationship Management, Data Mining, Cash Register
22 Sep 2017
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Chapter 5: marketing analytics: welcome to the era of big data. Identify customers and get to know them in as much detail as possible: 2. Differentiate among these customers in terms of both their needs and their value to the company: 3. Interact with customers and find ways to improve cost efficiency and the effectiveness of the interaction: 4. Identifying new opportunities through analytics that yield greater return on investment on marketing efforts: 2. Turning insights they gain into products and services that are better aligned with the desires of consumers: 3. Delivering communications on products and services to the marketplace more efficiently and effectively. Internet of things describes a system in which everyday objects are connected to the. Including demographic and other information about customers in database. Customer retention and loyalty: special offers for big spenders and loyal customers, 3. Customer abandonment: getting rid of a customer who is costing the firm too much, 4.
