Sources of Data
Although organizations of any size can employ database marketing, it is particularly well-suited to companies with large numbers of customers. This is because a large population provides greater opportunity to find segments of customers or prospects that can be communicated with in a customized manner. In smaller (and more homogeneous) databases, it will be difficult to justify on economic terms the investment required to differentiate messages. As a result, database marketing has flourished in sectors, such as financial services, telecommunications, and retail, all of which have the ability to generate significant amounts of transaction data for millions of customers.
Database marketing applications can be divided logically between those marketing programs that reach existing customers and those that are aimed at prospective customers.
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Famous quotes containing the words sources of, sources and/or data:
“No drug, not even alcohol, causes the fundamental ills of society. If we’re looking for the sources of our troubles, we shouldn’t test people for drugs, we should test them for stupidity, ignorance, greed and love of power.”
—P.J. (Patrick Jake)
“No drug, not even alcohol, causes the fundamental ills of society. If we’re looking for the sources of our troubles, we shouldn’t test people for drugs, we should test them for stupidity, ignorance, greed and love of power.”
—P.J. (Patrick Jake)
“Mental health data from the 1950’s on middle-aged women showed them to be a particularly distressed group, vulnerable to depression and feelings of uselessness. This isn’t surprising. If society tells you that your main role is to be attractive to men and you are getting crow’s feet, and to be a mother to children and yours are leaving home, no wonder you are distressed.”
—Grace Baruch (20th century)