Market analysis and management Flashcards
1
Q
Target Marketing
A
Finding patterns (Clusters) of similar customers (spending habits) and targets these people with certain products. Most cost effecient
2
Q
Cross market analysis
A
Supermarkets finding patterns (associations) between products and marketing accordingly.
3
Q
Customer relationship management
A
3 steps:
Acquiring new customers
inc value of the customer
retaining good customers
