IMC homework assignment
2. What is a data warehouse? What is the difference between an operational database and a marketing database? A data warehouse is something that holds all of the customer data. The difference between an operational database and a marketing database is that the operational database contains the individual’s transactions with the firm and follows accounting principles, the marketing database, contains information about current customers, former customers and prospects. 4. What is geocoding?
The process of adding geographic codes to each customer’s record so that customer addresses can be plotted on a map. 6. What are the two primary functions of data mining?
building profiles of customer segments
preparing models that predict future purchase behaviors based on past purchases 8. Explain how consumer proﬁle information is used when sending communications to customers. It allows the communication style to be more personalized, to allow the customer to feel special and unique rather than just another person making a purchase. With this information, companies are able to send out specialized messages such as birthday messages, discounts specific to that person etc. 10. What are the keys to an effective permission marketing program? -obtain permission from the customer
offer the consumer an ongoing curriculum that is meaningful
increase the level of permission
leverage the permission to benefit both parties
12. What is customer relationship management? Explain why most CRM programs have not been successful. successful CRM allows companies to use databases to customize products and communications with customers, with the goals of higher sales and profits. Most CRM programs have not been successful for several reasons including that the CRM programs focused on making sales rather than on enhancing relationships. 14. What is direct response marketing?
DRM involves the targeting of...
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