Meredith: Thanks to Good Marketing Information, Meredith Knows Women
You may not recognize the name Meredith Corporation but you have certainly heard of the magazines it publishes. Better Homes and Gardens, Ladies’ Home Journal, and Family Circle are some of its oldest and best-known titles. Meredith has been publishing magazines for more than 100 years and maintains many top-ten titles, both by category and overall. With a total of 21 subscription magazines, Meredith is also the creator of American Baby, Parents, Fitness, Midwest Living, and MORE. This powerhouse publisher also produces 150 special interest publications – the kind that are available only at retail outlets. Meredith’s magazines have a combined circulation of 30 million –
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Most companies have no idea how to process and handle all that information. But Meredith effectively puts it all into one place so that managers throughout the company can access it.
Beyond gathering information from internal sources, Meredith also conducts marketing research. Online and traditional surveys allow Meredith to dig deeper into attitudinal information. One of the focal points is questions about customers’ life events. “Are you having a baby, are your kids about to go to school, are your oldest kids about to graduate, are you thinking about retiring?” explains Cheryl Dahlquist, director of database marketing services at Meredith. “As much as we can, we’d like to know that information because we feel like those are the things that influence really what’s happening with someone.” Knowing a single life event can tell a lot about a person’s needs and wants. But possessing updated information on dozens of life events for a given person becomes very powerful.
All the information in the world means little unless you can make sense of it. Meredith is as skilled at analyzing and using database information as it is collecting it. Through complex statistical analysis, Meredith learns about each customer’s interests and how those interests evolve throughout the customer’s life. Through a concept Meredith calls “passion
He explains how big companies like ‘Xerox’ use data collected from social networks to hire people, or to collect data about what other things, company users like or dislike so they can change to make sure that users will like them even more.
Take advantage of data to offer customers useful and relevant experiences. Learn how to maximize your company’s
In the 21st Century there are many ways of marketing, promoting an idea, opinion, or product. Commercials, events, workshops, and the internet are ways that information can be obtained by consumers, and it also gives people opportunities to be enlightened or object to other person’s views or ideas. In addition, magazines are a useful tool for an individual to gain insight on different topics from one product and explore opinions from many reliable individuals. This essay will explore three magazines all from the same publisher; Parents Magazine. The target audience
There are 50 credit customers who were selected for the data collection on five variables such as location, income, size, years, and credit balance. In order to understand more about their customer, AJ DAVIS must use graphical, numerical summary to be able to interpret and better expand their business in the future.
Identifying your customer base, uncovering their needs, what issues they may have, and what’s important to them, helps to streamline your processes. Let’s play out a scenario: Sally is a single mother of 3 with no insurance because her employer doesn’t offer a plan. Sally just received her billing statement. By taking a moment to identify Sally’s needs you are able to find out she is able to pay her bill, but may need to set-up a payment plan. Working with your patient to resolve an issue rather than not taking the time to listen to their needs will boost patient satisfaction through the roof. And by offering solutions tailored to that specific customer, you are also improving your customer service efficiency. Streamlining employees time and cutting overhead.
Magazines have implicitly and explicitly been influencing humans for decades. They are continually more involved in the media, however the market is highly competitive. It is extremely important for magazines to maintain the readers’ interest and loyalty therefore they must excel in its appearance and content. Helen Brown created the Cosmopolitan magazine in 1965. It holds a spot as one of the most successful women’s magazines of all time, and proceeds to be the number one selling monthly magazine. (Ouellette, 360, 2005).
It has recently come to my attention that Target Co. utilizes data mining to extract a wide spectrum of information about its customers by accumulating, analyzing and storing data about customer purchases. While I understand that this practice enables Target Co. to simultaneously deliver individually targeted advertisements across its diverse customer groupings, thereby increasing the potential for sales and improving customer retention, I also understand that large amounts of data unearthed by data mining can be manipulated to uncover hidden purchasing patterns to predict and shape future purchase decisions. Therefore, although there are significant benefits to using data mining, there are also serious costs associated with data mining that
There are two main overall objectives of Harrah’s Database marketing (DBM) programs. First, Harrah’s strived to build, increase and retain customers’ loyalty to their brand, similar to the way people tend to be loyal to their mechanic or hair dresser. The strategy to achieve this goal was to ensure that they crafted and sustained a relationship with their customers and reinforced the emotional tie with personalized attention and fast service. The second objective piggy-backs on the first – that customer loyalty will yield incremental business and increase company revenue.
It is needed to analyze customer behavior and preference data. To generate the necessary data and understand customers’ preferences, Harrah’s had to mine the data.
Another example displaying the lack of unity between the manufacturing plants is the employee files. They are kept by individual managers who are responsible for tracking FMLA absences and any requests for accommodation under ADA. All this information is provided by Riordan Manufacturing's intranet site and is examples of the need for an integrated system. A new state-of-the-art integrated information system would undoubtedly make operations much more efficient, effective, and money saving.
The magazine’s mission (mandate or philosophy) is the magazine’s focus. It is what defines the
For the past year, I've developed new marketing channels on how to leverage today's relationship-centric business climate by combining data science, predictive analytics, technology and human motivation.
1. The case describes the data mining approach used by Target Corporation to predict when a woman is likely to be pregnant. What types of data/indicators would be helpful for Target to track for identifying changes in consumer buying behavior during other life stage events such as getting a divorce, leaving for college, or preparing for marriage?
Customers are assets, and their values grow and decline. Segmenting customers based on their lifetime value is a powerful way to target them because marketing mix activities can then aim at enhancing customer value. (Ho, 2006)
The merging of the customer data from sales and the call center interactions has created the more informed interactions with the customer (Petersen, 2004). The concept rang with the user organizations and mergers and acquisitions created a host of software that the vendors claimed to have an integrated set of capabilities that became known as customer relationship management (Petersen, 2004). Companies wanted to learn more about each and every individual customer and use the information to effectively take care of and manage their relationships, and yet increased customer satisfaction and profit.