Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
In addition to demographic and psychographic information, we will also focus on triggers. For non-online customers, the main trigger is brand identification and reinforcement; for online customers it is direct action (Thiel, 2008) so that line of questioning will be structured differently for the two mediums. For the survey, we will use our 250,000 strong database.
Reaching competitor's customers is trickier. Without the benefit of a database, a smaller sample size will need to be used. We have a basic understanding of the demographics we serve. Our customers may serve other demographics, but those customers that do not fit with our demographics are unlikely to switch. Our survey design will therefore be focused on members of our key demographics. We will specifically ask about purchasing habits with respect to us or our key competitors and filter out those respondents who shop at our competitors. We will need to continue this exercise until we have gathered enough respondents in both the C. And D. categories as to be statistically significant.
Conclusion
As a mid-sized retailer of men's clothing, we have a strong internal database from which to draw research on our existing customers. Marketing to in-store customers, online customers and multichannel customers will be slightly different for each category. Therefore, we will run two surveys, one online and one in-store. We will separate customers immediately by which of the three categories they are, so that we have a sound breakdown of the demographic, psychographic, purchasing behavior and communication behavior for each...
The survey, once we have attained a statistically significant sample for each segment, will be similar to that used on our own customers. During the evaluation process, we will attempt to ascertain the differences between our customers and competitor's customers, to identify which of the key drivers are most important. Our objective in doing this will be to identify areas of competitor weakness that we can exploit, and to identify the customer segments that are the most potentially lucrative so that we can improve the focus of our marketing initiatives.
Works Cited:
Yulinsky, Corey. (2000). Multi-Channel Marketing. McKinsey. Retrieved March 31, 2009 from http://www.mckinsey.com/practices/retail/knowledge/articles/Multichannelmarketing.pdf
No author. (2008). The Five Essentials of Multi-Channel Marketing. CRM Today. Retrieved March 31, 2009 from http://www.crm2day.com/content/t6_librarynews_1.php?id=EpVFVEEFpEiAIkskdo
Daufeldt, Deb. (2008). Multi-Channel Marketing -- the Keys to Making it Work. Green Chair Marketing Group Retrieved March 31, 2009 from http://www.greenchair.net/articles/Multi-Channel-Marketing -- the-Keys-to-Making-it-Work.htm
Thiel, David. (2008). Diagram: Customer Lifecycle and Differences in Online & Offline Media Consumption. Etailology. Retrieved March 31, 2009 from http://etailology.com/blog/archives/tag/multichannel-marketing
Works Cited:
Yulinsky, Corey. (2000). Multi-Channel Marketing. McKinsey. Retrieved March 31, 2009 from http://www.mckinsey.com/practices/retail/knowledge/articles/Multichannelmarketing.pdf
No author. (2008). The Five Essentials of Multi-Channel Marketing. CRM Today. Retrieved March 31, 2009 from http://www.crm2day.com/content/t6_librarynews_1.php?id=EpVFVEEFpEiAIkskdo
Daufeldt, Deb. (2008). Multi-Channel Marketing -- the Keys to Making it Work. Green Chair Marketing Group Retrieved March 31, 2009 from http://www.greenchair.net/articles/Multi-Channel-Marketing -- the-Keys-to-Making-it-Work.htm
Thiel, David. (2008). Diagram: Customer Lifecycle and Differences in Online & Offline Media Consumption. Etailology. Retrieved March 31, 2009 from http://etailology.com/blog/archives/tag/multichannel-marketing
The majority are in the Developing Phase (45%) with just 3% in Optimizing. This indicates that there is a strong need for greater integration of social networking, permission marketing and customer information management in many e-commerce strategies today. The results shown in Figure 3 also indicates there is significant upside potential for companies who attempt to grow quickly through the integration of social networking, trust-based permission marketing based on
Marketing Schroder and Zaharia (2008) looked at the buying habits of retail consumers in Germany, in particular how consumers behaved with respect to multi-channel shopping. They had noticed a trend that retailers were running multiple channels, and that there were times when these channels would complement one another. An example would be a company that has an online store and bricks-and-mortar stores. A consumer might research the product in one, and
66). Furthermore, social software will only increase in importance in helping organizations maintain and manage their domains of knowledge and information. When networks are enabled and flourish, their value to all users and to the organization increases as well. That increase in value is typically nonlinear, where some additions yield more than proportionate values to the organization (McCluskey and Korobow, 2009). Some of the key characteristics of social software applications
The use of databases as the system of record is a common step across all data mining definitions and is critically important in creating a standardized set of query commands and data models for use. To the extent a system of record in a data mining application is stable and scalable is the extent to which a data mining application will be able to deliver the critical relationship data,