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The Targeting strategy

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Data strategy paper The business that I am going to examine is a typical business to consumer type dealing with music related product sales and distribution directly to customers (direct sell). All music is an e-commerce site that provides a large inventory of musical genres. It has a user friendly search engine to explore the huge music database of the site. It provides advanced searching methods that help the user to explore the database according to mood, genre, song and album title. All music provides moreover to the user an extra service that can give him/her the opportunity to become a registered member of the site (free) in order to gain specific information concerning: special prices, offers, music information according to his/her preferences, advanced search, expanded artist information (credits, songs), editorial features as well as the ability to listen audio samples (30 second duration) before purchasing the record. Moreover it uses a 5 star album rating system with 5 being the best rating in order to assist the customer about the specific release. Target Group The Targeting strategy that All music utilizes is based on market segmentation in order to collect and manipulate current and prospective buyers into groups (segments) ...read more.


information concerning subscription of a prospective customer in a web site music catalogue). Another external source that All music should get data elements is from the application of banners to music related sites in order to attract prospect customers. It is been advertised in big portals-search engines like yahoo, excite, google etc. When the prospective customer enters music related keywords a highlighted logo of All music site appears. Examining the internal sources All music manipulates customer information from the server of the company that is the pre existing database that is collected over the years .Another internal source that all music handles comes mainly from the current site of the company concerning the sales contact, the billing system, customer service system or through questionnaires. Through internal data All music is increasingly investing in customer-focused enterprise applications to link together internal databases and deliver a snapshot of interactions between the organization and its customers. Intended use/Rationale The main reason that All music collects the specific data fields is to avoid spam mails that irritates the customer and provide more interest specific information. From the customer search history(data field) ...read more.


With this approach All music can easily identifies which customers will traffic on the situation (take the cds and never buy) as well which customer will obey the agreement(take the offer and continue purchasing). A more combined strategy that should include all data fields from our marketing database is the RFM strategy. Through RFM (recency, frequency, monetary) All music from each data elements (descriptive and behavioral data) will be able to analyze customer behavior and defining market segments. To be more specific the recency (When was the last order?) attribute might be broken into three categories: customers with purchases within the last 90 days; between 91 and 365 days; and longer than 365 days. The frequency (How many orders have they placed with us?) will examine the number of times purchases made and the monetary(What is the value of their orders?) the dollar spent in the period(gross margin) This attribute will help All music to identify the interaction with their customers and will provide a lift in response rates for promotions. Conclusions With the appropriate use of marketing database All music can * Target the most qualified prospects * Focus on building stronger relationships with the highest-value opportunities * Minimize business risk * Cross-sell more effectively * Extend relationships across multiple buying groups more easily ...read more.

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