Customer-Centric Marketing: A Pragmatic Framework (MIT by R. Ravi,Baohong Sun

By R. Ravi,Baohong Sun

The revolution in substantial facts has enabled a game-changing method of advertising. The asynchronous and non-stop choice of buyer information consists of wealthy signs approximately shopper personal tastes and intake styles. Use of this knowledge could make advertising adaptive, dynamic, and aware of alterations in person client habit. This e-book introduces state of the art analytic and quantitative tools for customer-centric advertising and marketing (CCM). instead of utilizing a photograph from the knowledge to devise a unmarried campaign-centric advertising plan, those tools draw on state of the art learn in optimization and interactive advertising with the objective of maximizing long term make the most of information accrued over the years. the purpose is to educate readers to use optimization instruments to derive analytical strategies resulting in personalized, dynamic, proactive, and real-time advertising and marketing decisions.The ebook develops the CCM framework and illustrates it with 4 circumstances that span the lifestyles cycle of promoting: pricing, win-back, cross-sales, and customer support allocation. The textual content walks the reader via real-world examples of utilizing the framework (supported by means of spreadsheet types to be had online), then explains the major recommendations: modeling customer selection; segmenting shoppers into latent periods in keeping with sensitivity; computing patron lifetime price (CLV); and dynamic optimization. The reader then learns to include the continual studying of purchaser choice into an adaptive suggestions loop for advertising judgements. The ebook can be utilized as a textual content for MBA scholars or as a certified reference.This ebook is predicated on joint examine built at Carnegie Mellon college while either authors have been at the college on the Tepper institution of Business.

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