Data Mining in Marketing

Data Mining in Marketing

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Data mining in marketing

Marketing refers to a science and an art of investigating, developing and delivering significant value in goods and services to meet the needs of the target market at the benefits of a particular company or business (Burns, 2009). In marketing a company identifies the unfulfilled desires and needs of the consumers. It creates solutions and quantifies the dimension of the target market and business profit potentials.

This paper will be looking at ways which “Shoprite Stores” will use in implementing a data mining project. The first will be to look at the customers demographic. This will help them understand what kind of customers they have.

Shoprite Stores has looked at the target market. In this situation, the customer is the main focus of the business or company when developing their strategies and activities, compared to the product of the company. The company’s model shifts in marketing needs in that the company builds a commitment to quality of goods and service and to critically listen to the needs of the customers to determine the market requirements and how the business can solve these needs effectively and efficiently (Burns, 2009).

Customer frequency usage is also an important factor that Shoprite Stores need to consider while implement a data mining project. This will give a hint on how long particular goods or service are sort after by clients. As a result, it will be easy to decide what stock or to purchase (Burns, 2009).

After all these are done, a business must be able to evaluate and measure the success of the marketing strategy they are using. Shoprite Stores should emphasize on developing strategies that are customer centred, and which will allow them evaluate the marketing strategy.

References

Burns, N. (2009). Understanding marketing research: Introduction to data mining, 2nd edn. Philadelphia: W.B. Saunders Company