Business

2 Pages 502 Words

Company & Product: Glow (Fabric Detergent)


Data & Demographics:

A properly organized database is essential to build the direct marketing strategy. Without it, each action remains independent of others. You can not build your understanding of complex customer reactions without recording all the interactions you have had with that individual or company. The value of the database depends on its being comprehensive and up to date.

Accessing the demographic data you need to expand your business, find new customers or design marketing campaigns.
• Analyze income and population trends, racial mix, housing values, and employment trends.
• Data available down to zip code level.
• Compare multiple Geographic’s side by side.


Statistics:

Probably the most often used descriptive statistic is the mean. The mean is a particularly informative measure of the “central tendency” of the cariable if it is reported along with its confidence intervals. The mean can offer information about the population. The “true” (population) mean is located (with a given level of certainty).

For example, if the mean in a sample is 23, and the lower and upper limits of the p=.05 confidence interval are 19 and 27 respectively, then you can conclude that there is a 95% probability that the population mean is greater than 19 and lower than 27.



Customer Relationship Management (CRM): CRM is the process that enables you to build long term profitable relationships with your customers and prospects.

The central element of CRM is the customer database essential for any direct marketing strategy. This includes much more than just the basic contact details of the customer. It must record and facilitate all outgoing and incoming communication with that customer by any member of your team-personal meeting, letters, telephone, fax, email. It must also provide an automated document management service to file all documents for e...