To put it briefly, “conquering the market” is what this discipline aims at. There are many theories that provide information on putting a product better on the market to tackle the competition. There have also been lots of scientific and practical studies on this discipline for a learning point of view.
What are the most known and used models and methods? What are their success stories and practical tips when you apply these? These posts are all about great free tools and methods that can help you to achieve your goal or understand certain aspects that come with this discipline.
RFM Segmentation enables marketers to focus on specific clusters of customers with communication that is much more relevant for their specific behaviour, therefore generating much higher response percentages, as well as increased loyalty and customer lifetime value. It’s an effective way to identify groups of customers for special treatment.
The Marketing Research Mix or the MR mix was made in 2004 and published in 2007 by Nigel Bradley. He’s a university professor of marketing at the University of Westminster in London. This type of research was designed as a framework to help researchers design or evaluate marketing research studies. Like the marketing mix, the marketing research mix also has four Ps. However, unlike the marketing mix, these elements are consecutive and belong to the most important phases that have to be observed. These four Ps are purpose, population, procedure, and publications.