Marketers Are Implementing The Next Best Offer Approach

Big data analytics can be used by company to make informed business decision by examining large amount of varied data to get customer preferences, market trends and other useful information. Company can use it to explore new revenue opportunities, improved operational efficiency, better customer service and competitive advantages over rivals.

The increasing dependence on online marketing around the world can be a challenge in keeping goods and services at a low price. A growth in populace is a nonstop link to an increase in products and services vital to withstand the population; this means that the essential products are not going to decrease but in fact increase significantly. Therefore, the marketing team must prepare its promotional strategy, it must transform the characteristics of the “4 P’s”, marketing strategy,” (place, product, price, and promotion). The products and the prices must be dependable, and the promotion of online shopping must be encouraged and with these strategies SAM’S would attract potential new consumers. Sam’s Club will target typical consumers that use

Technology companies are using big data to analyze millions of voice samples to deliver more reliable and accurate voice interfaces. Banks are using big data techniques to im- prove fraud detection. Health care providers are leveraging more detailed data to im- prove patient treatment. Big data is being used by manufacturers to improve warranty management and equipment monitoring, as well as to optimize the logistics of getting their products to market. Retailers are harnessing a wide range of customer interactions, both online and offline, in order to provide more tailored recommendations and optimal pricing.96

Big data technology is used to help produce useful information out of the massive amount of data collected from retail stores. According to Dylan Love,

A new approach to marketing needs to be established to boost sales and increase return customers, while at the same time lowering the overhead costs of marketing.

Big data affects in a different way depending on how privacy, security and welfare influence to the customers. There are different types of consumers depending on

For these consumers that didn’t or maybe couldn’t find the best deals, the best deals and finding them, making the purchase experience fast and convenient. And even for free, if enough of your friends buy a deal you recommended to them. In this sense, the buying experience has become a more interactive, social experience, where the best deals and shared and echoed online. This is making customers exponentially smarted, maybe not about the true cost of products and discounts, but certainly about what they and their friends are willing to pay for them.

For as long as business have been around companies have been using efficient marketing strategies to promote the growth of their companies. From this we have developed the most modern techniques possible while still staying true to old methods. This technique has allowed companies to reach multiple age ranges across the board. We will take our time to explain what it takes to market a company, while creating our own take on their strategy to renew it for the upcoming year.

Wolfsen (2013) asserts that it will attract more customers as customers would like to get their service done in less time. To minimize the time of customers spending on purchasing, one of the most efficient way is through big data. Matthew (2014) suggested that the technology of big

To stay competitive in today’s market, “companies are using big data analytics to understand and engage customers in a way that inspires greater loyalty” (Rackey, 2015). Better understanding our customers will result in opportunities for increased sales through up-selling and cross-selling while also improving customer satisfaction by catering to customer’s needs more efficiently. Developing a BI program using data, technology, analytics, and human knowledge allows us to transform data into useful BI solutions.

Businesses are profit-seeking entities. Hence, the main aim of businesses is to survive and grow. In order to achieve these objectives, businesses have to satisfy the consumers’ needs. Marketing helps to realise this through marketing activities. By helping to sell, marketing activities contribute to the creation of wealth. According to the CIM (Chartered Institute of Marketing) “Marketing is the management process responsible for identifying, anticipating and satisfying consumers’ requirements profitably.” In other words, marketing helps businesses to put a product on the market at the right place, at the right price, and at the right moment using the most suitable promotion. For example, a company has no interest in selling solar panel in countries where there are not a lot of sunshine pear year or in selling scholar supplies a long time after the back-to-school period. To elaborate plans for a good or a service, businesses therefore use marketing activities such as the process of segmentation of the market that leads to the identification of a target market (for example, a certain part of the population such as teenagers or family) In order to satisfy its target market, firms manipulation some controllable variables (price, promotion…) also known as Marketing Mix. However, for a company to survive and grow, identifying and trying to anticipate the consumers’ needs is not a sufficient condition. Companies also need to accommodate to the constant marketing environment

Big Data Analytics: One of the perspectives advertised by cloud computing is the capacity to take benefit from boundless amount of both sorted out and disorganized data o tackle the upside of detach business respect. Retailers and suppliers are also expelled out information which they got from buyers buying to concentrate on their raise and promote to particular couple of peoples .

Data can give you in-depth insight on your users’ purchasing patterns and online behaviors. With that knowledge, your team can focus on improving the customer experience.

In such a dynamic setting, the business players come to devise and put into practice numerous means by which to appeal to the customers, to attract them, and to retain them. In other words, the role of marketing in today's society is increasing at an exponential rate. At a generic level, marketing is understood as the totality of measures implemented by the economic agent in an effort to attract customers and support the sale of their products. In a more pragmatic formulation, marketing is defined as follows:

Marketing is one of the main the fundamentals of a successful business in the sense of profitability. It is the concept of selling your product or service to the market in the industry that specific business is competing. However, marketing involves a complex process beyond just letting people know about the products or services that a company has to offer. It is a tool that projects the business 's image to the public as a form of strategic approach to outperform the desired business plan. The field of marketing entails a wide variety of concepts, and as the communication has changed over time, it has also brought a whole new set of implications in the subject mattered. Marketing in the 21st Century is mainly focused on delivering a customer experience, customers are not as easily amused when it comes to new products, we are on a constant search for new, better and easier to use products, and with this, the marketing strategies have been keeping up with the changes as well.