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Predictive Marketing is a New Buzzword in Marketing

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What is the relevance of software in predictive marketing? How it helps in segmenting consumers?

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Solution Summary

The solution explains how software algorithms have changed the way marketing is done with clustering based on multiple variable and more accurate market segmentation leading to a higher level of precision marketing.

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Predictive Marketing is an emerging area in marketing based on predictions about consumer behavior and accordingly proactively designing the products based on future consumer requirements, aggressive pricing to tap consumers in advance, promoting the products precisely to the right target segments and designing distribution channels proactively to reach the right target segments in advance. The storage of database of consumers has become easy with each and every online activity recorded or captured through google logins or android phone logins of consumers. This database can be easily integrate with any offline behavior by the retail stores and brand interaction with the consumers. These databases not only record the information about ...

Solution provided by:
Himanshu Mahobia, MBA
Education
  • BCom, M.D.S University, Ajmer
  • MBA, M.D.S University, Ajmer
  • PhD, Suresh Gyan Vihar University, Jaipur
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