Are you targeting the right customer – the answer lies in multidimensional customer segmentationLet’s face it – most retail marketers design their promotions based on recommendations from Merchandising department. What’s in inventory -selling fast, what’s not moving fast enough, what promotions the partners are offering…… the list goes on. The promotions are then sent out to clusters of customers going by the rule of average arrived at with demographic profiling. In this approach what to promote is on top of your mind, not who should receive what promotions when and how, right? Now, wait a minute, rewind to last promotions you designed, and ask yourself, were you customer centric in your approach?
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