 Advantages:  See your top customers  See any changes in top customer behaviors.  Start a reward system for top customers.  Send out e-mails and.

Slides:



Advertisements
Similar presentations
M1-How to write the comparison
Advertisements

FROM RED TO BLACK Managing your debt and credit Marilyn Williams, CD, BBA, MBA, CFP UNBSJ, 1983, 1993.
Copyright 2007 Thomson South-Western Chapter 3 Income and Purchasing Power.
Chapter 11 Customer Relationship Management McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
Source: Google Post-Holiday Learnings for 2011 Shopper Marketing Q3 Report: Learning What Motivates Shoppers What helps all shoppers make a purchase decision?
© South-Western Educational Publishing Chapter 20 Personal Decision Making  Making Better Decisions  Spending Habits.
Personal Decision Making
© South-Western Educational Publishing Chapter 20 Personal Decision Making  Making Better Decisions  Spending Habits.
By: Angela and Shayla.  CRM Is the process of analyzing the customer database and converting the data into information that will help retailers develop.
Introduction to Management Information Systems Chapter 9 Business Intelligence and Knowledge Management HTM 304 Fall 07.
Chapter Extension 14 Database Marketing © 2008 Pearson Prentice Hall, Experiencing MIS, David Kroenke.
*Goes along with team objective -Inelastic -Higher price for higher quality -Increase advertising and public relations.
3 Chapter Needs Assessment.
By Meghan Clarke and Julie Scherer.
Chapter Extension 15 Database Marketing. Q1:What is a database marketing opportunity? Q2: How does RFM analysis classify customers? Q3: How does market-basket.
Chapter Extension 12 Database Marketing.
Misc Topics 2 Amol Deshpande CMSC424. Topics OLAP Data Warehouses Information Retrieval.
Customer relationship management (CMR)
Lesson 5-5 Example Solve. CLOTHING Cynthia went school shopping. She spent $ for pants, $58.90 on tops, and $60.24 on shoes. She also purchased.
Section 29.1 Marketing Research
Data Mining By Andrie Suherman. Agenda Introduction Major Elements Steps/ Processes Tools used for data mining Advantages and Disadvantages.
Business to Business Marketing Collateral Final Project Patti Bowes University of St. Thomas.
Agenda for Define Key Terms Read & Take Notes The Persuaders
Chapter 4 Understanding Demand Yoliann Pons Period.5
Bell Ringer  List some reasons why you think that some new businesses have almost immediate success while others fail miserably. The main idea: Successful.
Chapter 9 Business Intelligence and Information Systems for Decision Making.
Marni McSween-Farmer Marco LuzuriagaRoss RyanAnnmarie Yoos Collaboration Exercises #2, pg. 366.
Marketing A market is never saturated with a good product, but it is very quickly saturated with a bad one. Henry Ford - Henry Ford Henry Ford.
Demand Chapter 4 Section 1. Key Terms demand: the desire to own something and the ability to pay for it law of demand: consumers will buy more of a good.
Final Exam Review. The following is a list of items that you should review in preparation for the exam. Note that not every item in the following slides.
Marketing Research Process Chapter 29. What factors influence restaurants to add low fat menu items? How can they determine success of items? Journal.
Section 28.1 Marketing Information Systems
What are the challenges? To know how to translate word problems into a workable mathematical equation. To know where to start and how to go about figuring.
From the colonies to now.  Most people made everything they needed with their hands.  They bought only a few things from stores. The rest of it they.
Warm Up Turn to page 25 in your textbook Read “Consumer Action” What can Yolanda do to help her business be more profitable? How will she know if her price.
Chapter 4: Demand Section 1
Economic Choices Unlimited Wants What are we referring to when we say… Unlimited Needs.
Face-to-face sales interactions are typically viewed as the most valuable activity by Sales Leaders.
How To Produce Immediate Sales By Using Marketing? By: Alphasandesh.comAlphasandesh.com.
Chapter 11 Team Wiki Jen Ruzzi Katie Alexo Greg Friedrich Erin McCarthy.
Copyright © 2012 McGraw-Hill Companies, Inc., All right reversed McGraw-Hill/Irwin 14 Direct Marketing.
Setting Objectives. How do you know if you have succeeded or failed, won or lost? By setting objectives/goals.
E-COMMERCE. Definition of E-commerce It is the purchasing, selling and exchanging of goods and services over computer networks through which transactions.
Chapter 20 Personal Decision Making
Table of Contents Topic Page # /3.6 Ratios and Proportions Percents43 3.7B Solve Percent Problems45.
SCARCITY & DECISION MAKING Notes. THE BASIC ECONOMIC PROBLEM  Scarcity  Not having enough resources to satisfy every need  Requires Economic Decision-Making.
Economics Basic foundations to help us understand the economic impact of historical events on society.
1. Which situation below could represent the inequality 25x ≥ 500? a) A SALES PERSON EARNS A BASE SALARY OF $25 PER WEEK AND $311 PER SALE WANTS.
Information Management and Market Research. Marketing Research Links…. Consumer, Customer, and Public Marketer through information Marketing Research:
Praxe Malaga September – December 2010 Veronika Podnecká.
The Mystery of Two Families
Academic Year 2014 Spring Academic Year 2014 Spring.
 What was the last item of clothing you bought?  Why did you buy the item?  How much was it?  Were you satisfied with your purchase?  Why or why not.
Sunrise Deli Food Truck
Lesson Objectives: By the end of this lesson you will be able to: *Explain the law of demand *Describe how the substitution effect and the income effect.
Solving Addition & Subtraction Equations Honors Math – Grade 7.
PROBLEM FROM THE LAST WORKSHOP MOST PEOPLE DON’T BUY ANYTHINGS IN TIGER SHOP.
Conducting Marketing Research Chapter 29. Sec – The Marketing Research Process The steps in conducting marketing research The difference between.
What Are The Services Are Provided By The Online Flower Shop? Whole Blossoms.
Tactics to Keep Your Existing Customers Coming Back for More Call On: http://
 Step 1: Choose the operation  Step 2: Round the numbers to the smallest numbers highest place value  Step 3: Solve the problem using the estimated.
© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Slide 1 Consumer’s Role in the Economy Objectives: By the end of class, students will be able.
Calculation Summary Card Calculating Shopper Numbers Calculating an amount as a % = The value of the amount you want to know as a % The total number X.
Data Mining is the process of analyzing data and summarizing it into useful information Data Mining is usually used for extremely large sets of data It.
High School Financial Planning Program
What people look like Words, words, and words … people’s dress
Chapter 3 Income and Purchasing Power
Market Basket Analysis and Association Rules
Understanding Customer Behaviors with Information Technologies
MIS2502: Data Analytics Introduction to Advanced Analytics
Presentation transcript:

 Advantages:  See your top customers  See any changes in top customer behaviors.  Start a reward system for top customers.  Send out s and thank you cards Disadvantages: Having to keep up with it. May have to create a job to keep up with the reports

 An Olap tool can be used to solve the lost customer problem. Because it would show clearly the spending habits of the customers and if there are any significant decreases in sales from that customer. This would raise a red flag for Mary.  The Olap would list the customers in order of spending habits, showing what they bought each year and how much they spent.  Olap may not be the best way to show a lost customer because it only shows how much was spent, and not the frequency of the shopper.

 The decision tree analysis may not be the best application to avoid lost customers. There is still no physical interaction between Mary and her customers, only data of all the shoppers which can easily have the more important customers lost in the shuffle.

 R:(recently) F:(frequently) M:(money)  Using this application Mary can take a more direct approach to finding out just how many times a customer has been in the store, also when was the last time that a customer has shopped there, and finally how much money the customer has spent.  Depending on the rates for each customer Mary would be able to easily pick out the customers that she wants to target.

 MBA – is a data mining technique for determining sales patterns. (What else is in your basket).  Would not be used to solve the lost customer problem because all it shows is what products compliment each other. In other words what products customers buy together. Does not show individual customer buying habits, only all buying habits as a whole.

 If we owned Carbon Creek Gardens the application that we would choose would be the RFM application.  This program seems to satisfy the needs of being able to target lost customers and the top buyers.