MKT 3305 Lecture Notes - Lecture 5: Dbt Online Inc., Data Warehouse, Marketing Effectiveness
Document Summary
Crm : a key decision tool for marketers. What is share of a customer: % of a customer"s purchases in a category over time. What is the customer lifetime value (clv): baylor student, car buyer. Firms that successfully make use of crm have a different mind-set, different goals, different measures of success, and generally look at customers in a different way when compared to firms that don"t use crm. Crm leverages database technologies to customize customer interactions based on : share of customer, customer lifetime value, customer prioritization. Big data can come from many sources. Sources can be both within and outside of the organization and created and compiled from different groups. It is not uncommon today for consumers to either praise or condemn a product online. Mining of big data can provide marketers with valuable new insights, but also presents difficult new challenges: technological challenges, analytic challenges, ethical challenges.
