CUSTOMERS (TECHNOPRENEURSHIP) Flashcards
ANALYZING TARGET CUSTOMERS involves these 3 methods
Data Analytics in Customer Identification
Market Research Methods
Importance of Customer Feedback
_________________ in customer identification involves the use of advanced techniques to analyze large datasets, uncovering patterns and trends that reveal insights into customer behavior and preferences.
Data analytics
Data analytics in customer identification involves the use of advanced techniques to analyze large datasets, _____________ ________ and ______that reveal insights into customer behavior and preferences.
uncovering patterns and trends
_____________________ plays a pivotal role in refining products, services, and marketing strategies to better align with customer needs and preferences.
Customer feedback
It provides valuable insights into the customer experience, highlighting areas of improvement and opportunities for innovation.
Customer feedback
involves grouping customers based on shared characteristics, preferences, and behaviors to better understand their needs and tailor marketing strategies accordingly.
Creating customer profiles and segments
are detailed descriptions of individual customers, including demographic information, psychographic traits, and purchasing habits
Customer profiles
on the other hand, are broader groups of customers who exhibit similar characteristics or behaviors
Segments,
______________ in customer profiling leverages _________________ and ____________ to automatically analyze vast amounts of customer data, enabling businesses to create detailed and dynamic profiles based on demographics, behavior, and preferences.
Artificial Intelligence (AI)
advanced algorithms
machine learning techniques
_________is a vital strategy for businesses to effectively target their marketing efforts and tailor their offerings to different groups of customers
Customer segmentation
THE 2 CHALLENGES WHEN BUSINESSES SEGMENT CUSTOMERS
Limited Data Availability
Overlapping Segment Criteria
__________________ in customer data usage are of paramount importance in today’s digital age, where businesses have unprecedented access to vast amounts of customer information.
Ethical considerations
The 6 ethical considerations
Informed Consent
Data Privacy and Security
Transparency
Purpose Limitation
Anonymization and Aggregation
Fairness and Bias
______________________ in an entrepreneurial venture is essential for sustaining business growth and success
Developing strategies for attracting and retaining customers
This involves implementing a combination of marketing, customer service, and relationship-building tactics tailored to the unique needs and preferences of the target market.
Developing strategies for attracting and retaining customers
