Target Marketing Decisions

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

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.

It is Target since its inception in 1962 has turned out to be more or less effective in making a real image in the US and as a store that works to its best. People take this store as a partner in many aspects living with their family or friends to work ways out as intended to. There is an image that this company has had to keep looking aside to a fact that it is a necessity.

Target Corporation has recognized itself as one of the top retailers in the United States market on the basis of excellent service quality, customer experiences, operational excellence, strong financial position, and a wide array of product offerings. Through its high degree of service orientation at physical outlets and adoption of fair business practices, Target Corporation has become the most distinctive retailer in the eyes of its potential customers. Being one of the top-notch retailers in the United States, Target Corporation has to carefully strategize on its business operations and marketing tactics so as to keep itself in the row of competitive brands of the industry.

Perhaps the most misunderstood use of such information happens in the advertising business. Advertising companies specialize in selling products to clients, and what more efficient way is there than to use results extracted from datasets to make accurate speculation and target customers individually based on their purchase patterns? This is a practice known as customer profiling: creating a portrait of many individuals purchase patterns to discover correlations and more effectively advertise products. The misunderstanding lies in where the information that the companies use is obtained.

One of the largest and most successful retailers in the United States is Target Corporation. There have been many micro-environmental factors that have affected this company’s performance over the past few years. The micro-environment are the actors close to the company that affect its ability to serve its customers such as the company itself, suppliers, marketing intermediaries, customer markets, competitors and publics (Kotler and Armstrong, p.66) The company itself definitely played role in affecting its performance over the past few years. Target wanted to be perceived as a discount retail store but also carry top designer products (Kotler and Armstrong, p.94). The marketing plans for the company affected its sales negatively and

“Customer analytics enables organizations and enterprises to make data-driven business decisions for direct marketing, site selection, and customer relationship management. The result is a 360-degree view of customers,” says Molly Galetto, vice president of marketing communications at NGDATA.

A retailer collects data from various countries to: develop and implement a strategic plan, reach a given target market, and determine if there is a viable need for the given product. Data researched and analyzed can uncover who the target market is today, proving consumers with products to entice them. Understanding the psychographics, demographics and how target markets will change as our global community does, uncovers the market of tomorrow. Using the

Today’s competitive consumer market warrants retailers, such as Macy’s, and other big business owners to find solutions for managing enormous amounts of collected consumer data. This writer ascertains information management to be an imperative operational part of an organization because the compiled information is used to assess the past performance of a company as well as predict future events and happenings. (Accelops, 2015).

This paper will review about the term "lift" and it uses to data mining and commerce. Supplementary assessment of customer relationship management (CRM) and the advantages of its use in enterprise, and scalability of the product to assemble the requirements of a business. It also compare and contrast the cross-selling and affinity positioning, and real life examples and my personal experiences. Finally, recognizing and examining potential ethical issues concerning cross-selling, and advertising to targeted demographic population.

Early Bird Coffee 's target market is commuters using the Sawbridgeworth station that have the money, appreciation for coffee and little time to wait. We have found millennials (ages 16-34) are the biggest purchasers of coffee outside the home, the ages beyond that want quality coffee. (Mintel, 2016) to obtain both consumers we have chosen Lavazza coffee. Early Bird Coffee is located next to the ticket office giving direct access to everyone entering and leaving the station as well as people in the area. There is high visibility of the businesses brand and signage which the more they see the more alluring.

Wal-Mart’s advanced data-mining tools allow them to fine tune and improve customer responsiveness, giving customers what and when they want in offer. It can be compared to

According to Kotler and Keller (2012) Psychographic segmentation divides buyers into different groups based on psychological and personality traits, lifestyle, or values. The four groups with the highest resources are innovators, thinkers, achievers, and experiencers. The four groups with the lower resources are believers, strivers, makers, and survivors (Kotler & Keller, 2012). Given Coca-Cola’s long and storied history, individuals comprising the believers and survivors groups are exceptionally strong psychological groups for the company given the historical strength and customer loyalty these consumers have with the company. Somewhat in contrast, consumers fitting into the higher resource groups like innovators and high achievers are much more likely to be attracted niche alternatives. Coca-Cola has made several brand changes to better position the company in these higher-priced markets, which plays well to experiencers willing to try new products and thinkers

Exploiting the customer information hidden in large database can help identify valuable customers and predict future behavior, enable the company to become proactive with their campaign, implement knowledge-driven decisions and make it possible for the organization to limit the defect rate.

Marshall/ Johnston in Marketing Management 2001 referred marketing planning as the ongoing process of developing and implementing market-driven strategies for an organization and the resulting document that records the marketing planning process is the marketing plan.