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10 Cards in this Set
- Front
- Back
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Database Marketing
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marketing that emphasizes gathering all available customer, lead, and prospect information into a central database and using statistical techniques to develop models of customer behavior; heavy users of data warehouses
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Direct Marketing
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vending products to customers without use of other channel members; "call to action"
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Permission Marketing
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new form of direct marketing, which is promotional information that is sent only to consumers who give company permission to do so
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Steps in Development of Permission Marketing
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1. Obtain information from consumer
2. Offer consumer ongoing curriculum that is meaningful 3. Reinforce incentive to continue relationship 4. Increase level of permission 5. Leverage the permission to benefit both parties |
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Frequency Loyalty Program
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Incentive plan designed to encourage customers to make repeat purchases (Ex: frequent flyer miles)
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Reasons to use frequency loyalty program
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-maintain sales, margins, or profits
-increase loyalty of existing customers -preempt or match a competitor's program -induce cross-selling to existing customers -differentiate a parity brand -preempt the entry of a new brand -70% of US households participate in atleast one -82% use each time they shop -Primary reason for joining to save money -60% say it influences purchase decisions |
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Steps in Developing a Database
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1. determine objectives
2. collect data 3. build data warehouse 4. mine data for information 5. develop marketing programs 6. evaluate marketing programs and data warehouse |
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Sources of Data
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internal (telephone number, purchase behaviors can be used to determine best customers) and external (psychographic, lifestyles, attitude)
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Data Warehouse
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combine internal and external data and then use geocoding (ads geographic codes so can map out addresses of customers)
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Data Mining
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turning data into information; building profiles
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