What is the difference between customer profiles, market segments, and predictive modeling? How are they used in marketing?

Description

Mind Map on What is the difference between customer profiles, market segments, and predictive modeling? How are they used in marketing?, created by Michael Bayly on 06/16/2014.
Michael Bayly
Mind Map by Michael Bayly, updated more than 1 year ago
Michael Bayly
Created by Michael Bayly almost 9 years ago
63
2

Resource summary

What is the difference between customer profiles, market segments, and predictive modeling? How are they used in marketing?
  1. Customer Profiles
    1. Develop a profile of the ideal customer in any given situation
      1. What they wear, drive, live, job, behaviours - when asked to create a profile on a site
        1. Best Customer Analysis
          1. Electronic targeting - identifying and targeting with individualised content
            1. Birthday
          2. Market segments
            1. Different segments to handle and target
              1. Statistical analysis to find the group of best potential customers based on characteristics and product-related behaviours
                1. Regression
                  1. Assist with identifying relationships between variables that affect behaviour
                  2. Appropriate for the physical world as cost prohibitive
                    1. Suitable for conversion and retention programs - info on customers already in database
                      1. Online and offline
                    2. Predictive modelling
                      1. Predicting behaviour
                        1. Using programs to predict likelihoods
                          1. Can identify results of variable changes - price change, will demand change
                        2. Data burst - customer account information and products they’re likely to buy appear on the screen
                        3. They are analytical levels (compress data into summary statistics) used as individual data items to execute marketing programs
                          Show full summary Hide full summary

                          Similar

                          French Intermediate
                          PatrickNoonan
                          A-Level History: Nazi Germany
                          cian.buckley+1
                          Kwasi Enin - College Application Essay
                          philip.ellis
                          AQA GCSE Biology Unit 2.3
                          Matthew T
                          ICT Revision 2014
                          11RaceyG
                          Input Devices
                          Jess Peason
                          The Anatomy of the Heart
                          Shannan Muskopf
                          Physics P3 Fashcards
                          Holly Bamford
                          Which GoConqr Product is Right for Me?
                          Sarah Egan
                          AAHI_Card set 5 (Vital sign terminology)
                          Tafe Teachers SB
                          Anatomie - sistemul respirator 1
                          Eugeniu Nicolenco